Q3 2025 Aspo Oyj Earnings Call Transcript
Key Points
- Aspo PLC (FRA:ZYD) reported an improvement in EBITA by over EUR6 million year-to-date, reaching EUR27.5 million for the first three quarters.
- The company achieved a sales growth of nearly 6% and an EBITA margin of 6% for the same period.
- New vessels in ESL Shipping are outperforming older ones, contributing positively to profitability.
- The transformation of Leipurin is progressing well, with a successful sale to Lantmannen expected to generate a sales gain of approximately EUR60 million.
- Telko's focus on higher value-added products and services has improved profitability, with a record high profit in Q3 driven by organic growth and acquisitions.
- Aspo PLC (FRA:ZYD) reported a negative free cash flow of EUR8.5 million due to investments in green coasters and increased working capital.
- The net debt to EBITDA ratio is high at 3.9, driven by growth investments that are yet to generate EBITA.
- ESL Shipping faced challenges with a weak spot market and lower demand in the forest segment, impacting profitability.
- Safety performance has been below target, with a safety frequency of 9.5 against a target of 4.
- The company faces uncertainty due to trade tensions and geopolitical factors, impacting market conditions and profitability.
Welcome to the financial reporting Q3 2025 of Aspo. I will start by briefly going through the numbers, then I will present the progress when it comes to our vision for Aspo, and then our CFO will go through the financials in more detail. And finally, I will sum up our presentation.
If we start by looking at year-to-date performance, Q1 to Q3 this year, we have improved our EBITA with a bit more than EUR6 million compared to last year, EUR27.5 million of EBITA for the first three quarters. We have sales growth of 6% or close to 6%, and we also have an EBITA of 6%. If we look at ESL Shipping, what's interesting, as I see it, is that the new vessels are clearly outperforming the old vessels when it comes to profitability. That's a key driver of the performance of ESL.
We see a clear shift from volume products to more value-added products, which then has a positive profitability impact. And also, we are benefiting from the acquisitions made last year. And when it comes to Leiporin, the transformation
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