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Aspo (ASPO) investor relations material
Aspo Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales grew 9.7% year-over-year to EUR 314.0 million in H1 2025, with all segments improving profitability despite challenging market conditions.
Comparable EBITA increased to EUR 18.0 million for H1 2025, up from EUR 12.4 million, with all business units contributing positively.
Announced divestment of Leipurin to Lantmännen for EUR 63 million, expected to generate a EUR 16 million sales gain upon closing in Q1 2026, supporting the vision to split into two companies.
Focused on maximizing benefits from acquisitions, organic growth, and performance improvement actions, with continued investment in fleet renewal and sustainability progress.
Sustainability achievements include reduced emissions and high ESG ratings for both Telko and ESL Shipping.
Financial highlights
Q2 2025 net sales rose 6% year-over-year to EUR 162.8 million, marking the highest quarterly net sales in recent history.
Comparable EBITA in Q2 2025 was EUR 9.2 million (5.6% margin); H1 2025 EBITA totaled EUR 18.0 million (14.3% margin).
Free cash flow in H1 2025 was EUR 8.8 million, despite significant investments in Green Coaster vessels.
Operating cash flow in H1 2025 was EUR 23.5 million, with all businesses contributing positively.
EPS for H1 2025 was EUR 0.27; comparable EPS EUR 0.31.
Outlook and guidance
2025 comparable EBITA expected at EUR 35–45 million, including Leipurin.
ESL Shipping demand expected to remain weak in H2 2025, with gradual recovery anticipated in Q4.
Telko and Leipurin expected to maintain stable development, focusing on integration and organic growth.
Market environment remains challenging due to geopolitical and trade uncertainties.
Achieving upper guidance range depends on market recovery and success of profit improvement measures.
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