OREANDA-NEWS. October 07, 2014. Neste Oil has revised the method used to calculate its comparable operating profit and switched to using non-recurring items.

The change will mean that comparable operating profit will reflect the underlying operating result of the company and its segments more accurately and will make comparing Neste Oil's profitability over different periods of time as transparent as possible.

Non-recurring items are linked to unpredictable events of a significant nature that do not form part of normal day-to-day business. They include among others impairment losses and reversals, gains and losses associated with the combination or termination of businesses, restructuring costs, and gains and losses on the sales of assets. Only items having an impact of more than EUR 1 million on Neste Oil's result will be classified as non-recurring items. A table of restated operating profit figures for 2012-2014 is enclosed. This change in accounting practice will not affect Neste Oil's consolidated IFRS result.

Neste Oil will start using the revised method for calculating its comparable operating profit from the Q3 2014 interim report onwards, due to be published on 23 October.