(Reuters) -Finnish biofuel maker and oil refiner Neste expects U.S. tariffs will only have a limited impact on its business, it said on Tuesday, but warned of continuous oversupply in renewable fuel and market volatility.
“We expect the European policymakers to safeguard a level playing field and competitiveness of European industrial companies,” Neste Chief Executive Officer Heikki Malinen said in a statement.
The company’s comparable first-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 62% to 210 million euros from a year earlier.
Analysts in a company-provided consensus had expected 211.7 million euros on average.
Excess supply of renewable fuel, weak demand and global economic uncertainty have hit the profitability of the Finnish group, which warned in February of continuous challenges ahead.
(Reporting by Boleslaw Lasocki; Editing by Andrew Heavens, Kirsten Donovan)
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