The Renewable Products margin was a record $945/t, an impressive 20% jump yoy and 25% qoq, well above the guidance range. The adjusted EBITDA was strong at €830m (+44% yoy) thanks to flat results from Renewable Products and Oil Products. The market will remain volatile in Q2 and Oil Products will lend less support to the results while the Renewable Products division is looking to increase sales volumes with the start of new refineries and could benefit from declining feedstock costs.
