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Aspo’s Q3 EUR 8.7m comparable EBITA didn’t quite reach estimates, but in our opinion there remain many drivers for Q4’24 as well as FY’25 EB...
Net sales came 4% below consensus (LSEG) in Q3. The company's clean Q3 EBITA was 10% under our expectations.
Aspo’s Q3 earnings didn’t quite reach estimates as ESL’s EBITA remained low while Telko’s EUR 4.
Shipping market was soft in Q3. ESL Shipping segment reported clean EBITA of EUR 3.
Weak shipping volumes and declining crude oil prices could keep organic revenue growth relatively modest.
ESL Shipping will buy four new fossil-free handy sized vessels for total of EUR 186m.
Aspo’s results have seen ups and downs in recent years, but the stabilized environment and recent investments should now drive major earning...
Aspo’s Q2 earnings were basically in line with estimates.
Net sales and EBITA were close to our expectations, excluding several one-off items in Q2.
Net sales without EUR 12.8m one-of item was close to our expectation of EUR 142m in Q2.
Aspo’s Q2 results were mostly as expected as ESL’s profitability topped estimates while Telko fell somewhat short.
Aspo had a weak start to the year in Q1, but yields in the dry bulk sector have been good in Q2.
Aspo’s CMD elaborated on major investment plans as both ESL and Telko will expand their operations also in the future.
Aspo held a CMD event on 14 May. The company is heading for EUR 1bn in net sales in 2028 which is almost 100% above the last year.
Aspo’s Q1 EBIT was soft relative to estimates, yet markets have now mostly stabilized; all three segments can improve organically but also w...
Strikes and severe winter ice conditions led to clean EBIT coming in below LSEG Data & Analytics consensus in Q1.
Aspo’s Q1 results were burdened by political strikes in Finland especially in the case of ESL, which also had to operate in exceptionally ic...
Net sales and clean EBIT were below market consensus (LSEG) in Q1.
Aspo expands its operations in Sweden by acquiring Swed Handling.
The share price has been relatively weak despite net sales and operating profit looking set to improve clearly y/y for 2024.
Aspo will receive EUR 34m in cash by divesting two Supramax vessels.
Aspo acquired industrial lubricants distribution businesses from Petrus.
Aspo’s Q4 showed some positive trends while EBIT remained quite low.
In Q4, ESL Shipping reported net sales and EBIT above consensus (LSEG), while Telko and Leipurin segments came in below.
Aspo’s Q4 figures came in soft relative to estimates as all three segments missed profitability estimates.
Net sales and clean EBIT were below market consensus (LSEG) in Q4 but ESL Shipping segment were slightly above consensus in Q4.
2023 was a weak year for the dry bulk sector, reflected in ESL Shipping's clean EBIT declining by 50% y/y.
Aspo sells 15.4% of its ESL Shipping segment for EUR 30m to OP Suomi Infra Ky.
Aspo’s Q3 results delivered a positive surprise due to Telko.
In Q3, Aspo reported net sales below consensus (Refinitiv), while adjusted EBIT came in above.
The biggest positive surprise in Aspo’s Q3 result was profitability in Telko segment.
Aspo’s EUR 7.4m Q3 EBIT landed well above estimates.
ESL Shipping volumes may have been weak in Q3. SSAB has already said that demand was weak in Q3 and the company guides for somewhat lower q/...
Aspo’s outlook worsened this spring, and Q2 results fell below reduced estimates.
Q2 2023 results were a bit weaker than consensus expected.
The overall freight market activity slowed down significantly compared to the previous year in Q2.
Aspo’s Q2 results fell short of estimates especially due to the loss-making Supramax vessels and certain other dry bulk market challenges, w...
It is difficult to imagine Aspo posting any positive surprises in the near future.
Q1 showed weakening for ESL this year, yet the guidance downgrade and recent Supramax comments indicate larger short-term headwinds than see...
The main reason for Aspo's 2023 EBIT guidance downgrade on 12 May was ESL Shipping, but the outlook is also challenging for the Telko and Le...
Aspo’s Q1 results came in quite close to estimates.
Q1 revenues were 3% below Refinitiv consensus and clean EBIT was 7% below.
Aspo’s Q1 results were a bit lower than estimated. We find there to have been mixed development underneath as Telko on the one hand beat our...
We expect a relatively good first quarter for ESL Shipping, due to increased q/q volumes, despite Finland's port strike and low yields in th...
Aspo’s Q4 didn’t hold big news, however the segments’ EBIT paths may diverge a bit this year after a very strong FY ’22.
Q4 net sales came in 1% above our estimate, but clean EBIT was 7% below our expectation.
ESL Shipping segment was a positive surprise compared to our estimates in Q4, one reason being coal shipments during the quarter.
Aspo’s Q4 results landed relatively close to estimates.
Last year was very good for Aspo despite the Russia exit, in our view.
Aspo achieved again very high profitability, this time even with Russia mostly neutralized.
Q3 net sales were 11% above Refinitiv consensus. A strong shipping market, raw material prices and acquisitions supported sales growth.
Revenues were 11% above Refinitiv consensus in Q3. Clean operating profit of EUR 13m was EUR 2.
Aspo’s Q3 results topped estimates. In our view the beat was driven by ESL, where Q3 was again a very strong quarter.
Aspo upgraded its FY ‘22 guidance, thanks to ESL’s continued strong performance, and gave an update on exits.
Aspo sold its Telko Segment’s Russian operations for EUR 9.
Aspo’s record high H1 results are to face headwinds in H2, but in our view EBIT may well stay above EUR 40m also next year thanks to ESL and...
The last two quarters have been the best ever in terms of clean EBIT, despite all the problems in Eastern markets.
Aspo’s Q2 results were broadly higher than expected as all three segments reached record-high quarterly profitability levels.
Net sales were 11% above our expectations meanwhile clean EBIT came 33% over our forecast in Q2.
We raise our full-year group clean EBIT forecast by ~50%.
Aspo’s guidance upgrade arrived sooner than we expected.
Aspo’s Q1 results beat estimates. Uncertainty persists around H2, but we are now more confident towards Telko.
Aspo actively continues its investigation into strategic alternatives for its operations in Russia, but we expect the outcome to be Aspo exi...
Aspo’s Q1 results clearly topped estimates, however the previous full-year guidance is retained for now as much uncertainty persists around ...
Net sales were 17% above consensus in Q1. Comparable operating profit was even 82% above market (Infront) consensus in Q1.
Aspo resumed guidance relatively fast due to ESL’s current strong positioning, however much uncertainty remains around Telko’s performance i...
A strong shipping market could have led Aspo to post a record year of earnings in 2022, but the Ukraine crisis changed the investment story.
The war raises questions around Telko and Leipurin, but we view the recent sell-off a bit overdone despite the risks.
Aspo’s Q4 adj. EBIT reached EUR 13.9m; we believe ESL’s and Telko’s results are resilient while the guidance doesn’t appear to set the bar v...
A particularly good shipping market was the main reason for Aspo's clear EBIT beat versus market consensus (Infront) in Q4.
