Finland's Neste Oil's comparable operating profit decreased by 5.73% to €378 million in the first quarter of 2019, from €401 million in the same period of 2018, the company said on Friday.
The fall in the company's profit was mainly because of decreased production at its Nynas refinery.
"Comparable operating profit was €34 million weaker than in the corresponding period of 2018, mainly due to the poor financial performance of Nynas," the company explained.
However, the company's renewable products delivered a record best quarterly comparable operating profit as a result of successful margin optimization.
Renewable products' comparable sales margin totaled $692 per ton in the first quarter of 2019, compared to $525 per ton for the same period of 2018.
By Murat Temizer