Telko and Leipurin segments both reported EUR 0.3m higher adjusted EBITA than we forecasted in Q1. ESL Shipping segment reported clean EBITA of EUR 4.1m compared to our forecast of EUR 4.1m in Q1. ESL Shipping segment has suffered from low activity and...

Trade policy shifts have led to softening cargo demand on a global basis, and hence we lower our full-year estimates for 2025. The Baltic Dry index was down by 39% in Q1 y/y, but Aspo is not greatly exposed to weak spot markets and could find some support...

Aspo’s Q4 figures weren’t yet great, even if they improved a bit y/y, as ESL particularly had to endure some more demand softness. EBITA has however already bottomed out.

Net sales were in line with our expectation, but clean EBITA was a bit weaker than we had forecast for Q4. The ESL Shipping and Telko segments were somewhat weak in Q4. The market weakness could continue in H1 2025, so we lower our full-year EBIT forecast...

Aspo’s Q4 earnings came in a bit soft relative to estimates, but the midpoint of FY’25 comparable EBITA guidance indicates the results could improve by more than EUR 10m this year.

ESL Shipping segment reported clean EBITA of EUR 4.3m compared to our forecast of EUR 4.8m in Q4. ESL Shipping segment suffered from low activity and from weak spot market in Q4. Shipping’s demand could remain weak in H1 2025. Telko segment reporte EBITA...

Aspo reported a weak Q4 that was affected by low industrial activity and low spot prices in ESL, whereas Telko and Leipurin delivered slightly improved financials. For 2025, Aspo expects comparable EBITA to be EUR 35-45m (EUR 29m in 2024), driven by ...