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2021-10-27

Aspo Group interim report, January 1 to September 30, 2021: ESL Shipping and Telko business reached record-breaking results again

Aspo Plc
Interim report
October 27, 2021 at 9:30 am

Aspo Group interim report, January 1 to September 30, 2021

Aspo Q3: ESL Shipping and Telko business reached record-breaking results again

July–September 2021
Figures from the corresponding period in 2020 are presented in brackets.

  • Aspo’s net sales increased by 25% to EUR 148.0 (118.4) million.
  • Operating profit more than doubled from the comparative period and was EUR 7.6 (3.6) million.
  • The operating profit rate was 5.1% (3.0%).
  • Profit for the third quarter was EUR 5.4 (2.0) million.
  • Earnings per share increased and were EUR 0.16 (0.05).
  • An impairment loss of EUR 3.4 million was recognized on Kauko’s goodwill reported in Telko segment. The operating profit adjusted by the impairment loss was EUR 11.0 million, and adjusted earnings per share were EUR 0.27.
  • The operating profit of ESL Shipping was EUR 7.1 (-0.1) million, Telko EUR 2.5 (4.2) million, and Leipurin EUR 0.6 (0.3) million. Telko segment’s adjusted operating profit, excluding Kauko’s impairment loss of EUR 3.4 million, was EUR 6.0 million.
  • Net cash from operating activities was EUR 11.1 (9.4) million. Free cash flow was EUR 7.2 (6.1) million.
  • Rolf Jansson started as the CEO of Aspo on August 16, 2021, after CEO Aki Ojanen retired on August 15, 2021.
  • In September, ESL Shipping announced an investment of EUR 70 million in the next generation’s hybrid vessels.

January–September 2021

  • Aspo’s net sales increased by 15% to EUR 423.2 (367.2) million.
  • Operating profit more than doubled to EUR 25.1 (11.7) million, driven by the record performance of ESL Shipping and Telko business.
  • The operating profit rate was 5.9% (3.2%).
  • Profit for the period increased and was EUR 19.6 (7.3) million.
  • Earnings per share improved to EUR 0.59 (0.20).
  • The operating profit adjusted by Kauko’s EUR 3.4 million impairment loss was EUR 28.5 million, and adjusted earnings per share were EUR 0.70.
  • The operating profit of ESL Shipping was EUR 17.0 (2.8) million, Telko EUR 12.5 (10.8) million, and Leipurin EUR 1.2 (1.2) million. Telko segment’s adjusted operating profit, excluding Kauko’s impairment loss of EUR 3.4 million, was EUR 16.0 million.
  • Net cash from operating activities was EUR 33.3 (39.9) million. The impact of the change in working capital was EUR -12.6 (11.4) million. Free cash flow was EUR 23.4 (34.5) million.
Key figures *)     
  7-9/20217-9/20201-9/20211-9/20201-12/2020
       
Net sales, MEUR148.0118.4423.2367.2500.7
Operating profit, MEUR7.63.625.111.719.3
Operating profit, %5.13.05.93.23.9
       
 ESL Shipping, operating profit, MEUR7.1-0.117.02.87.6
 Telko, operating profit, MEUR2.54.212.510.814.9
 Leipurin, operating profit, MEUR0.60.31.21.21.4
       
Earnings per share (EPS), EUR0.160.050.590.200.39
Profit before taxes, MEUR6.62.522.28.414.8
Profit for the period, MEUR5.42.019.67.313.4
Net cash from operating activities, MEUR
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