Aspo
5.86 EUR -1.68%Aspo operates in the transport and logistics industry. The company is run as a conglomerate with the vision of being an active actor in the acquisitions and development of companies, mainly in the emerging markets in Eastern Europe. The industries in which the company holds interests include, for example, the grocery trade, industry, and the IT sector. The head office is located in Helsinki.
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![Kasper Mellas Kasper Mellas](https://www.inderes.se/cdn-cgi/image/format=auto,width=128,height=128,quality=90,fit=cover/https://core.inderes.fi/sites/default/files/2023-08/Kasper_Mellas.jpg)
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Financial calendar
Major OwnersSource: Millistream Market Data AB
Owner | Capital | Votes |
---|---|---|
Aev Capital Holding Oy | 10.4 % | 10.4 % |
Havsudden Oy Ab | 10.4 % | 10.4 % |
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Insider Transactions
Insider | Date | Total value |
---|---|---|
Miska Kuusela | 15.08.2023 | 15,330EUR |
Salla Pöyry | 02.03.2023 | 403,000EUR |
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Income statement
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Revenue | 500.7 | 573.3 | 643.4 | 536.4 | 603.6 | 623.7 | 646.5 | 672.3 |
growth-% | -14.8 % | 14.5 % | 12.2 % | -16.6 % | 12.5 % | 3.3 % | 3.7 % | 4.0 % |
EBITDA | 49.4 | 68.4 | 67.5 | 58.8 | 62.2 | 78.2 | 81.0 | 84.8 |
EBIT (adj.) | 19.3 | 42.4 | 55.3 | 25.7 | 31.2 | 36.0 | 38.0 | 40.0 |
EBIT | 19.3 | 33.9 | 31.1 | 25.9 | 23.2 | 36.0 | 38.0 | 40.0 |
Profit before taxes | 14.8 | 30.0 | 24.8 | 2.0 | 13.5 | 29.0 | 31.7 | 33.8 |
Net income | 12.0 | 23.7 | 18.5 | -1.0 | 7.2 | 21.4 | 24.6 | 26.2 |
EPS (adj.) | 0.38 | 1.02 | 1.36 | 0.46 | 0.48 | 0.68 | 0.78 | 0.83 |
growth-% | -17.9 % | 168.4 % | 32.6 % | -66.5 % | 6.4 % | 40.1 % | 15.3 % | 6.3 % |
Dividend | 0.35 | 0.45 | 0.46 | 0.47 | 0.48 | 0.49 | 0.50 | 0.51 |
Dividend ratio | 91.7 % | 59.7 % | 78.1 % | -1,491.6 % | 208.6 % | 72.2 % | 63.9 % | 61.4 % |
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Profitability and return on capital
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
EBITDA-% | 9.9 % | 11.9 % | 10.5 % | 11.0 % | 10.3 % | 12.5 % | 12.5 % | 12.6 % |
EBIT-% (adj.) | 3.9 % | 7.4 % | 8.6 % | 4.8 % | 5.2 % | 5.8 % | 5.9 % | 6.0 % |
EBIT-% | 3.9 % | 5.9 % | 4.8 % | 4.8 % | 3.8 % | 5.8 % | 5.9 % | 6.0 % |
ROE | 10.2 % | 19.5 % | 13.5 % | -0.7 % | 4.5 % | 11.8 % | 13.0 % | 13.2 % |
ROI | 5.9 % | 10.8 % | 9.6 % | 3.5 % | 6.7 % | 9.9 % | 10.1 % | 10.5 % |
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Valuation
2020 | 2021 | 2022 | 2023 | 2024e | 2025e | 2026e | 2027e | |
---|---|---|---|---|---|---|---|---|
Share price (EUR) | 8.40 | 11.36 | 8.20 | 5.98 | 5.86 | 5.86 | 5.86 | 5.86 |
Shares | 31.4 | 31.4 | 31.4 | 31.4 | 31.5 | 31.5 | 31.5 | 31.5 |
Market cap | 264.0 | 356.9 | 257.6 | 187.9 | 184.4 | 184.6 | 184.6 | 184.6 |
Enterprise value | 453.9 | 544.3 | 454.3 | 397.9 | 412.0 | 412.8 | 414.9 | 403.9 |
EV/S | 0.9 | 0.9 | 0.7 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 |
EV/EBITDA | 9.2 | 8.0 | 6.7 | 6.8 | 6.6 | 5.3 | 5.1 | 4.8 |
EV/EBIT (adj.) | 23.5 | 12.8 | 8.2 | 15.5 | 13.2 | 11.5 | 10.9 | 10.1 |
EV/EBIT | 23.5 | 16.1 | 14.6 | 15.4 | 17.8 | 11.5 | 10.9 | 10.1 |
P/E (adj.) | 22.0 | 11.1 | 6.0 | 13.1 | 12.1 | 8.6 | 7.5 | 7.0 |
P/E | 22.0 | 15.1 | 13.9 | - | 25.5 | 8.6 | 7.5 | 7.0 |
P/B | 2.3 | 2.8 | 1.8 | 1.3 | 1.0 | 1.0 | 1.0 | 0.9 |
P/S | 0.5 | 0.6 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 |
Dividend yield | 4.2 % | 4.0 % | 5.6 % | 7.9 % | 8.2 % | 8.4 % | 8.5 % | 8.7 % |
Equity ratio | 29.5 % | 31.8 % | 34.6 % | 34.3 % | 39.8 % | 40.3 % | 40.9 % | 42.7 % |
Gearing ratio | 149.7 % | 129.4 % | 116.0 % | 117.6 % | 85.8 % | 83.2 % | 80.3 % | 70.8 % |
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Quarter data
Q2/23 | Q3/23 | Q4/23 | 2023 | Q1/24 | Q2/24e | Q3/24e | Q4/24e | 2024e | |
---|---|---|---|---|---|---|---|---|---|
Revenue | 132.6 | 130.0 | 132.2 | 536.4 | 132.7 | 152.8 | 155.8 | 162.3 | 603.6 |
EBITDA | 10.9 | 16.6 | 14.5 | 58.8 | 4.7 | 14.8 | 17.1 | 18.0 | 62.2 |
EBIT | 2.8 | 8.1 | 6.4 | 25.9 | -3.2 | 7.0 | 9.2 | 10.1 | 23.2 |
Profit before taxes | -6.6 | 4.2 | -3.1 | 2.0 | -5.7 | 4.5 | 6.7 | 7.6 | 13.5 |
Net income | -7.0 | 3.2 | -4.4 | -1.0 | -4.5 | 2.6 | 4.6 | 5.3 | 7.2 |
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Aspo’s revised financial key figures
Members of the Shareholders’ Nomination Board of Aspo
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The sale of Aspo's subsidiary ESL Shipping's Supramax vessels has been completed on June 11 2024
Aspo's subsidiary Telko expands its operations further via a strategic acquisition in Germany
![Aspo as an Investment | Investor Day May 27, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/12b9f072-5915-4d25-be65-6d3f1648d97e.png)
Aspo as an Investment | Investor Day May 27, 2024
![Investor Day May 27, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/a54df762-c63c-496f-ab18-c2838ca83bbe.png)
Investor Day May 27, 2024
![Aspo Oyj CMD 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/67bba5a1-3d72-4f5d-af18-7b9ec56d6be3.png)
Aspo Oyj CMD 2024
Aspo's financial targets and dividend policy updated, and profitability metric of the guidance changed
Inside information: Aspo's new strategic portfolio vision
![Aspo Oyj, Q1, 2024](https://www.inderes.se/cdn-cgi/image/format=auto,width=640,height=358,quality=90,fit=cover/https://content.inderes.se/assets/1cbc8a90-9354-4934-9b94-3832fd76c76f.png)