Company & press releases

Consolidated key figures 1.1.-30.6.2026 1.1.-30.6.2025 2025 Net sales, MEUR 4,766.6 3,511.9 7,234.2 Operating profit/loss, MEUR 350.6 -5.3 110.0 Operating profit as % of net sales 7.4 -0.2 1.5 Profit/loss for the financial period, MEUR 299.1 -3.4 99.2 Return on equity, % 38.1 -0.5 6.8 Equity ratio, % 58.4 54.9 59.0 St1 Group's net sales for the first half of 2026 amounted to EUR 4.8 billion, approximately EUR 1.3 billion more than in the same period last year. The increase in net sales was due to a sharp rise in oil product prices caused by the conflict in the Middle East. The net sales of the comparison period, in turn, were reduced by the partial maintenance shutdown at St1's refinery in Gothenburg. Sales volumes in the retail market and of marine fuels increased somewhat compared to the same period last year. Of net sales, 55% came from Sweden, 23% from Norway, and 22% from Finland. The impact of the UK business on net sales remained below one percent, as the main customer of our UK-based subsidiary, which processes waste- and residue-based feedstocks, is St1's biorefinery in Gothenburg. Operating profit was EUR 350.6 million, while operating profit for the corresponding period last year was a loss of EUR -5.3 million. Profit after tax was EUR 299.1 million, compared to a loss of EUR -3.4 million in the comparison period. The result for the first half of the year was strongly affected by the rise in world market prices caused by the conflict in the Middle East and by improved refining margins. The refining margins of renewable diesel and Sustainable Aviation Fuel were supported by growing global demand. Refining margins were exceptionally strong following the first months of the year. The impact of inventory and valuation items compared to the previous year was almost EUR 150 million. Cash flow from operations was strong at EUR 323.9 million. Investments totalled EUR 44.6 million. The largest investments were directed to improvement and maintenance work at the refinery, the development and maintenance of the station network, the electric vehicle charging network, and information systems. In addition, St1 continued its investments in the Novatron Fusion Group, which is developing fusion energy. The Group's equity was EUR 1,657.6 million at the end of the period, and the equity ratio was 58.4. The Annual General Meeting of St1 Oy authorized the Board of Directors to acquire the company's own shares, and the Board decided to acquire the offered 52,056 shares. Henrikki Talvitie, St1 Oy’s CEO: We had a strong first half of the year across our operations. Our oil and renewable products value chains delivered record performance, with our St1 Refinery, Gothenburg Biorefinery and Brocklesby all achieving the highest refining and production volumes in their history. As our operations have grown beyond the Nordic countries, we also shortened our name from St1 Nordic Oy to St1 Oy. This step better reflects the scope of our business today and supports our growth strategy going forward. Scaling our low-emissions operations We entered into an agreement to supply Sustainable Aviation Fuel (SAF) from our Gothenburg biorefinery to ten regional Swedish airports, as part of one of the largest coordinated SAF procurement in Sweden to date. Deliveries are handled through a Book & Claim model, which supports growth in a market where SAF supply is still limited. Our biogas business, managed through our joint venture St1 Biokraft, continued to grow across the Nordics. St1 Biokraft acquired Danish Bio Commodities (DBC), extending into Denmark and adding meaningful production and pipeline capacity. We expanded our liquefied biogas network for heavy-duty transport, opening two new refuelling points and bringing the Nordic total to 15. The Nurmo biogas plant in Finland started operations, further strengthening our biogas supply. The plant was developed by Nurmon Bioenergia Oy, whose majority shareholder is Suomen Lantakaasu Oy and minority shareholder is Atria Suomi Oy. Suomen Lantakaasu is a joint venture between St1 Biokraft and Valio. We continued to expand our EV charging network by opening five new sites in Sweden, adding to our growing charging network across the Nordics. Strong collaboration Together with Valio, we established a new joint venture, Ekviton Oy, to advance emission reductions in Finland through the distribution obligation's flexibility mechanism. We also joined ABB, Fortum and the Walter Ahlström Foundation in a combined EUR 9 million donation to Aalto University to support the launch of its House of Energy Transition competence centre. The energy transition relies on the development and scaling of new energy solutions, which requires new expertise, continuous innovation, and above all a comprehensive energy strategy. That is why our EUR 3 million share funds two professorships in energy strategy and new energy technologies. Unaudited financial information: St1 Oy Interim Financial Statements January-June 2026, including: Consolidated income statement 1.1.2026-30.6.2026, 1.1.2025-30.6.2025, 1.1.2025-31.12.2025 Consolidated balance sheet 30.6.2026, 31.12.2025 Consolidated cash flow statement 1.1.2026-30.6.2026, 1.1.2025-31.12.2025 St1 Oy will publish its financial statements release for 2026 on 31 March 2027.

St1 Biokraft, a leading Nordic biomethane player, has signed an agreement to acquire Danish Bio Commodities (DBC), a Denmark-based biogas and biomethane company. The transaction adds more than 350 GWh of production capacity and approximately 900 GWh in the development pipeline, establishes St1 Biokraft in Denmark and marks an important step in the company’s Nordic growth journey.

Donations from ABB, Fortum, St1 and the Walter Ahlström Foundation will be used to establish new professorships. At the same time, the donations support the establishment of Aalto University House of Energy Transition.

St1 Nordic Oy (2082259-7) has shortened its name to St1 Oy (in Swedish St1 AB and in English St1 Corporation) as of June 1, 2026. The company’s Business ID will remain unchanged, and the name change will have no impact on the company’s operations, the position of its employees, or its contracts.

St1, together with biomethane company St1 Biokraft, continues the expansion of its heavy-duty biogas network in Finland. The new liquefied biogas (LBG) refuelling points opened in Liperi and Imatra this spring increase the network to nine LBG stations.

Energy company St1 and food company Valio are establishing a new joint venture, Ekviton Oy, to advance emission reductions and carbon removals in Finland. Ekviton utilises the flexibility mechanism of the distribution obligation, which entered into force in 2025 and enables alternative ways to fulfil the renewable fuels distribution obligation.

St1 Nordic Oy has submitted an application to shorten its name to St1 Oy (in Swedish St1 Ab and in English St1 Corporation) as part of its efforts to clarify and harmonise the naming structure of St1 Group companies.

The Annual General Meeting of St1 Nordic Oy will be held on Tuesday 14 April 2026, starting at 1.00 pm, at Original Sokos Hotel Tripla in Pasila, at Fredrikanterassi 1 B, 00520 Helsinki. Signs will be displayed in the hotel to guide you to the venue, and staff will be on hand to assist.

Consolidated key figures 2025 2024 Net sales, MEUR 7 234.2 7 960.7 Operating profit/loss, MEUR 110.0 171.9 Operating profit as % of net sales 1.5 2.2 Profit/loss for the financial period, MEUR 99.2 131.7 Return on equity % 6.8 9.4 Equity ratio 59.0 57.2 St1 Nordic Group’s net sales for 2025 was EUR 7.2 billion, a decrease of approximately 9% compared to EUR 8.0 billion in the previous year. The decline was mainly driven by a partial maintenance shutdown at the Gothenburg refinery in spring 2025, as well as lower global market prices for oil products. Overall sales volumes increased slightly, particularly in marine fuels. The geographical distribution of net sales remained similar to previous years: 20.9% from Finland, 53% from Sweden, 25.9% from Norway and 0.3% from the United Kingdom. The Group’s operating profit was EUR 110.0 million, which was EUR 61.9 million lower than the previous year. Refining margins materialised at higher levels than in 2024, but changes in oil product prices resulted in an inventory loss at the end of the year. The cash flow from operations totalled EUR 314.8 million. Investments amounted to EUR 181.2 million, including investments in associated companies. The Group’s most significant investment was the rebranding of the Nordic energy station network entirely to St1, in line with the One Brand strategy. In addition, the Gothenburg refinery underwent a smaller planned maintenance shutdown. St1 also expanded its electric vehicle charging network across Finland, Sweden and Norway. Investments in low-emissions energy production and its distribution network amounted to EUR 32.3 million. St1 entered into a strategic industrial partnership with the Swedish fusion energy developer Novatron Fusion Group AB (NFG) with a EUR 13.0 million investment. Investments in biogas operations were made through St1’s associated company St1 Biokraft Group AB. The Group’s equity at the end of the fiscal year was EUR 1,484.1 million, and the equity ratio strengthened to 59.0%. The Board of Directors of St1 Nordic Oy proposes to the Annual General Meeting that a dividend of EUR 3.00 per share, totalling EUR 113.2 million, be distributed. In addition, the Board proposes that the Annual General Meeting authorises the Board, at its discretion, to decide on the distribution of an additional dividend of up to EUR 1.50 per share, totalling up to EUR 56.6 million, during 2026. Henrikki Talvitie, CEO, St1 Nordic Oy: A strong year in advancing the energy transition Our energy transition ambition guides our strategic decision-making. In a year defined by geopolitical instability, armed conflicts, and increasingly rapid swings in global economic and regulatory cycles, St1 has remained firmly on course, and we have continued to advance our strategy as planned, in line with our long-term ambitions. We have continued to drive the energy transition with balance and resilience, safeguarding the reliability of existing energy systems while investing in new low-emissions solutions. The primary target of our energy transition execution is to grow our low-emissions energy portfolio. One Brand strategy The unified cross-Nordic St1 network is a strong channel for us to introduce more low-missions energy products to our customers. The rebranding of our entire Shell-branded network to St1 has been finalised as planned: keeping on schedule, ensuring quality, staying within budget, and achieving the zero serious incidents target. In total, we have rebranded 624 sites in Finland, Sweden, and Norway. The One Brand strategy and the strong cross-Nordic network are crucial components of St1’s energy transition execution and of building a profitable business in the long-term. Strong performance across our value chains Our new value chains are performing well, and we succeeded to increase profitability through our value chains throughout the year. The cornerstone of our hydrotreated vegetable oil (HVO) value chain, the Gothenburg Biorefinery, has had a stable year of production. Moreover, it is breaking production records with a high utilization rate. The market has revived and the demand for SAF and HVO diesel are strong. Our biogas value chain is managed in our joint venture St1 Biokraft, which has now completed its first full year of operation. Biogas growth plans continued progressing as planned and a new 138 GWh production plant was commissioned last year in Sweden. St1 Biokraft and Valio’s joint venture Suomen Lantakaasu is currently constructing production plants in Finland with a combined capacity of 248 GWh, and commissioning is expected to take place in 2026. By the end of 2025, the Nordic liquified biogas (LBG) refuelling network had already reached 13 locations, which is one quarter of the target by 2028. Our Electric vehicle (EV) charging value chain continued growing, and we added 44 new St1 Charge sites to the Nordic network. St1 opened its first solar park in Gothenburg, Sweden in 2025. Additionally, we established a new Power Business Unit with the aim of developing potential new value chains. In 2025, St1 joined forces with Novatron Fusion Group (NFG) to accelerate fusion energy in the Nordics. We believe that NFG has a game-changing formula, and as a lead investor with a long-term mindset, we are excited to help accelerate the work towards limitless fossil-free energy. It is important to increase awareness of the limitless opportunities offered by fusion energy and to promote its development through education, investments, and societal support, while creating a shared fusion strategy for the Nordic countries. Leading by data supports our energy transition target to grow the low‑emissions energy portfolio and decrease the carbon intensity of our sales, while maintaining profitability. It enables our commitment to be a partner to our customers in their energy transition process by offering insights and support in developing and executing their energy transition. St1 Nordic Oy has published its Game Changer Annual Review on 31 March 2026. Financial information: 2025 Financial Statements including the auditor’s report St1 Nordic Oy will publish the first-half interim report on 31 August 2026.

St1 has divested its subsidiary, St1 Lähienergia Oy, to Geonova Oy, a company specialized in geothermal heating solutions. The transaction became effective on 11 February 2026.