Aspo upgrades its financial guidance for 2022: Comparable operating profit will be EUR 52–57 million (42.4 Me)

Aspo Plc
Inside information
October 17, 2022 at 8:00 a.m.

Aspo upgrades its financial guidance for 2022: Comparable operating profit will be EUR 52–57 million (42.4 Me)

Aspo Plc upgrades its financial guidance for full-year 2022 especially due to the better-than-estimated development of ESL Shipping and outlook for the rest of the year.

Aspo’s new financial guidance for 2022:
Aspo Group's comparable operating profit will be EUR 52–57 (EUR 42.4) million in 2022.

Previous guidance for 2022 (issued on June 14, 2022):
Aspo Group’s comparable operating profit will improve from previous year (EUR 42.4 million).

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.

Previously Aspo had estimated that items affecting comparability will cause an estimated total expense of EUR 15–20 million. These include the expenses caused by the war in Ukraine, decisions regarding Telko’s and Leipurin’s operations in selected Eastern countries, and other items affecting comparability. The new estimate for the total expense of the aforementioned cost items is approximately EUR 25 million. This figure includes all the items affecting comparability in the first half of 2022 totaling EUR -7.3 million that have been previously reported.

In accordance with IFRS, the exit from Telko’s and Leipurin’s selected Eastern operations would also trigger the reclassification of translation differences from equity to the statement of comprehensive income. Based on the exchange rate of the Russian ruble at the end of September, translation differences of approximately EUR 5 million would be recognized as expense. The recognition does not reduce the equity of the Group as the translation differences have according to IFRS been recognized as a reduction of equity when incurred.

Aspo Plc

Rolf Jansson
CEO

Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, tel. +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 900 professionals.