Aspo provides financial guidance for 2022: comparable operating profit to be EUR 27–34 million

Aspo Plc
Inside information
April 5, 2022 at 3:30 p.m.


Aspo provides financial guidance for 2022: comparable operating profit to be EUR 27–34 million


Aspo Plc withdrew its financial guidance, issued in connection with the financial statements release, due to the uncertainty caused by the war started by Russia and the resulting sanctions on March 2, 2022.

Although there is still a lot of uncertainty about the exceptional situation caused by the war, Aspo can now better assess its impact on its business and provide financial guidance for 2022, especially due to the positive outlook of ESL Shipping operating in the Western markets.

Aspo’s financial guidance for 2022:

Aspo Group's comparable operating profit will be EUR 27–34 (EUR 42.4) million in 2022.

Comparable operating profit is calculated by adjusting the operating profit by adding or subtracting capital gains and losses, goodwill impairment losses and other items affecting comparability.

The costs caused by the war in Ukraine affecting comparability are estimated to be approximately EUR 6 million in the first quarter, including the previously reported destroyed inventories of Telko and Leipurin in Ukraine. The war and decisions regarding operations in Russia may yet generate additional costs that would affect comparability. Similarly, as previously announced, ESL Shipping's Espa barge’s sales gains of approximately EUR 1.5 million will be recognized in the first quarter results. The above items are not included in comparable operating profit.

In line with its strategy, Aspo will invest in growing its business in the Western markets going forward. The operations in the Eastern markets will be adjusted and permanent country-specific presence will be critically assessed. Decisions regarding operations in Russia will be made in a controlled manner, also taking into account the status of employees and the restrictions of local legislation.

Aspo will publish its interim report for the first quarter of 2022 on Wednesday, May 4, 2022.


Aspo Plc

Rolf Jansson
CEO

Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, +358 400 600 264, rolf.jansson@aspo.com

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Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 18 different countries, and it employs a total of approximately 960 professionals.