The key market risks related to Neste's profitability are risks related to utility prices and currencies.
The following table details the approximate impact that movements in Neste's key price and currency exposures would have on its IFRS operating profit in 2022, based on assumptions regarding the Group's reference market and operating conditions, but excluding the impact of hedge transactions.
Approximate impact on IFRS operating profit, excluding hedges
|+/- 10 % in the EUR/USD exchange rate||-289/+353 EUR million|
|+/- 1.00 USD/bbl in Oil Products total refining margin||+/- 90 USD million|
|+/- 10 USD/bbl in crude oil price for Oil Products*||+/- 85 USD million|
|+/- 100 USD/t in Renewable Products' raw material price*||+/- 150 USD million|
|+/- 50 USD/t in Renewable Products' refining margin**||+/- 160 USD million|
* Inventory gains/losses excluded from comparable operating profit.
** Based on name-plate capacity.