Finland · Delayed Price · Currency is EUR Aspo Oyj Earnings Call Transcripts
Fiscal Year 2026
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Profitability was stable with EBITA at EUR 7.1 million, strong free cash flow, and reduced leverage. Leipurin divestment improved financials, while ESL Shipping faced fuel cost headwinds and Telko saw gains in specialty products. Guidance for higher EBITA remains unchanged.
Fiscal Year 2025
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EBITA grew 25% to EUR 36.5 million in 2025, driven by Telko and Leipurin, while ESL Shipping faced weak coaster demand. Transformation continues with Leipurin's sale and plans for ESL Shipping, and guidance points to higher EBITA in 2026.
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EBITA improved year-over-year, driven by new vessel performance in ESL Shipping and a shift to specialty products in Telko, despite flat sales and challenging market conditions. The sale of Leipurin and strategic plans to split or divest ESL aim to unlock value and reduce debt.
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Profitability improved across all segments in Q2 and H1 2025, with record EBITDA and strong cash flow despite challenging markets. The sale of Leipurin advances the strategic split into two companies, while guidance remains unchanged amid ongoing geopolitical and market uncertainties.
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Net sales rose 14% year-over-year to EUR 151 million, with EBITA up to EUR 8.8 million and all segments improving profitability. Despite weak industrial demand and market uncertainty, strategic acquisitions and efficiency measures drove growth, and guidance for 2025 EBITDA is EUR 35–45 million.
Fiscal Year 2024
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Net sales grew 10% in 2024 with EBITA at EUR 29.1 million, despite soft demand and challenging markets. Strategic acquisitions and vessel investments set the stage for 2025 profit growth, with EBITA guidance of EUR 35–45 million and a continued focus on organic and acquisition-driven expansion.
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Q3 2024 saw 13% revenue growth and EUR 8.7 million EBITA, driven by strategic investments and acquisitions, despite soft markets. Major investments in green shipping and chemicals distribution, plus a full Russia exit, position the group for long-term growth.
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Net sales grew 16% year-over-year, with Q2 comparable EBITA at EUR 7.4 million and improved cash flow. Strategic moves included vessel sales, minority equity injection, and major acquisitions. Outlook for H2 is cautious, with stable contract volumes and limited market support expected.