Interim report
Aspo Q3:
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 wasEUR 11.0 million , and adjusted earnings per share wereEUR 0.27 . - The operating profit of
ESL Shipping wasEUR 7.1 (-0.1) million, TelkoEUR 2.5 (4.2) million, and LeipurinEUR 0.6 (0.3) million. Telko segment’s adjusted operating profit, excluding Kauko’s impairment loss ofEUR 3.4 million , wasEUR 6.0 million . - Net cash from operating activities was
EUR 11.1 (9.4) million. Free cash flow wasEUR 7.2 (6.1) million. Rolf Jansson started as the CEO of Aspo onAugust 16, 2021 , after CEOAki Ojanen retired onAugust 15, 2021 .- In September,
ESL Shipping announced an investment ofEUR 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 ofESL 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 wasEUR 28.5 million , and adjusted earnings per share wereEUR 0.70 . - The operating profit of
ESL Shipping wasEUR 17.0 (2.8) million, TelkoEUR 12.5 (10.8) million, and LeipurinEUR 1.2 (1.2) million. Telko segment’s adjusted operating profit, excluding Kauko’s impairment loss ofEUR 3.4 million , wasEUR 16.0 million . - Net cash from operating activities was
EUR 33.3 (39.9) million. The impact of the change in working capital wasEUR -12.6 (11.4) million. Free cash flow wasEUR 23.4 (34.5) million.
Key figures *) | ||||||
7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | ||
Net sales, MEUR | 148.0 | 118.4 | 423.2 | 367.2 | 500.7 | |
Operating profit, MEUR | 7.6 | 3.6 | 25.1 | 11.7 | 19.3 | |
Operating profit, % | 5.1 | 3.0 | 5.9 | 3.2 | 3.9 | |
7.1 | -0.1 | 17.0 | 2.8 | 7.6 | ||
Telko, operating profit, MEUR | 2.5 | 4.2 | 12.5 | 10.8 | 14.9 | |
Leipurin, operating profit, MEUR | 0.6 | 0.3 | 1.2 | 1.2 | 1.4 | |
Earnings per share (EPS), EUR | 0.16 | 0.05 | 0.59 | 0.20 | 0.39 | |
Profit before taxes, MEUR | 6.6 | 2.5 | 22.2 | 8.4 | 14.8 | |
Profit for the period, MEUR | 5.4 | 2.0 | 19.6 | 7.3 | 13.4 | |
Net cash from operating activities, MEUR | 11.1 | 9.4 | 33.3 | 39.9 | 65.0 | |
Free cash flow, MEUR | 7.2 | 6.1 | 23.4 | 34.5 | 56.0 | |
Return on equity (ROE), % | 22.0 | 8.3 | 11.4 | |||
Equity ratio, % | 31.8 | 29.0 | 30.1 | |||
Gearing, % | 130.9 | 163.0 | 149.0 | |||
Equity per share, EUR | 3.97 | 3.56 | 3.63 |
*) Figures for the third quarter and January-September include an impairment loss of
Guidance for 2021
Aspo’s operating profit will be approximately EUR 30–36 (19.3) million in 2021. The guidance includes the impact of the impairment of Kauko’s goodwill of
Aspo had a very strong third quarter in 2021, driven by the financial performance of
To respond to the growing demand,
Telko’s good market situation continued. Growing demand and growth in sales of higher value-added products in line with the strategy supported Telko businesses’ record-breaking performance. High demand and disruptions in production and supply chains due to the coronavirus pandemic, had a negative impact on our businesses through problems with the availability of raw materials.
Prices for Leipurin’s products generally increased, even though price volatility remained high. Structural changes in Leipurin’s market, accelerated by the coronavirus pandemic, affect net sales. Industrial bakeries are still strong in a difficult market situation. Relative sales of basic products increased driven by the growing significance of industrial sales channels. However, the impact is market-specific, and the coronavirus pandemic still had a significant impact on Leipurin’s sales in the Baltic countries and
Our core operations consist of owning, leading and developing business operations over the long term. All in all, Aspo is in a good position to take the next development steps. We will announce more news about Aspo’s strategy and the outlook of Aspo’s businesses at our Capital Markets Day on
ASPO GROUP
Financial results and targets
With its current structure, Aspo targets an operating profit rate of 6%, return on equity (ROE) of more than 20% on average, and gearing of at most 130%.
The operating profit rate increased significantly to 5.9% (3.2%). Return on equity improved significantly and was 22.0% (9/2020: 8.3%). Return on equity, excluding Kauko’s impairment loss of
At the end of 2020, Aspo’s Board of Directors defined a new long-term sustainability target, according to which the businesses Aspo owns will be forerunners in sustainability in their respective fields. The work to set new business-specific sustainability targets has continued, and the targets will be announced at our Capital Markets Day on
Operating environment
Aspo’s operating environment is recovering from the negative business impacts caused by the coronavirus pandemic. Demand for goods and services has grown rapidly, which has improved Aspo’s operating conditions. At the same time, however, increased demand, and the shortage of shipping containers and components, has slowed down supply chain operations and increased price pressures. In western markets, business operations have increased rapidly close to the pre-pandemic level. In eastern markets, the Russian ruble has remained weak in relation to the euro, even though the price of oil has increased markedly. Demand has also grown rapidly in
Net sales by market area | |||||
1-9/2021 | Share | 1-9/2020 | Share | Change | |
MEUR | % | MEUR | % | % | |
139.5 | 33 | 129.8 | 35 | 7 | |
Scandinavia | 77.2 | 18 | 56.2 | 15 | 37 |
Baltic countries | 38.9 | 9 | 34.0 | 9 | 14 |
111.3 | 26 | 103.9 | 28 | 7 | |
Other countries | 56.3 | 13 | 43.3 | 12 | 30 |
Total | 423.2 | 100 | 367.2 | 100 | 15 |
The Group’s main market areas are
Cash flow and financing
The Group’s net cash flow from operating activities in January–September was
9/2021 | 9/2020 | 12/2020 | |
MEUR | MEUR | MEUR | |
Interest-bearing liabilities | 186.1 | 210.0 | 201.4 |
Cash and cash equivalents | 23.7 | 28.5 | 32.3 |
Net interest-bearing debt | 162.4 | 181.5 | 169.1 |
Net interest-bearing liabilities decreased to
Net financial expenses in January–September decreased to
The Group’s liquidity position remained strong. Cash and cash equivalents were
Short-term risks and uncertainties in business operations
Globally, there are many geopolitical risk clusters, the development of which is difficult to predict. Changes in these regions may be very rapid and unpredictable, which is why it is difficult to estimate their impact on Aspo’s businesses. International sanctions have been imposed, which may also affect Aspo’s businesses directly or indirectly. Furthermore, various countries have imposed import duties or other trade restrictions on each other’s products. However, for now they have not had any direct impact on Aspo’s business operations.
Increased financial activities have caused the prices of many raw materials, components and logistics services to increase rapidly, and increased uncertainties over the functioning of logistics in certain market situations. Aspo may temporarily benefit from this increase in prices, while the prices of purchased raw materials or leased capacity, such as leased vessels, are increasing at the same time. Longer delivery times for spare parts, components and raw materials, and any rapid price changes in different market situations, are also increasing risks.
The coronavirus pandemic continues to have an impact on Aspo’s businesses. Any new variants of the coronavirus and their rapid spread may lead to various interruptions and financial losses.
Because the future estimates presented in this interim report are based on the current situation, they involve risks and other uncertainties, due to which actual future outcomes may differ from the estimates.
ASPO’S BUSINESSES
7-9/2021 | 7-9/2020 | Change,% | 1-9/2021 | 1-9/2020 | Change,% | |
Net sales, MEUR | 47.3 | 31.6 | 49.7 | 136.7 | 107.2 | 27.5 |
Operating profit, MEUR | 7.1 | -0.1 | 7200.0 | 17.0 | 2.8 | 507.1 |
Operating profit, % | 15.0 | -0.3 | 12.4 | 2.6 |
Demand and transportation volumes among all ESL Shipping’s main customers increased to the expected strong level. Transportation volumes among all steel industry customers increased significantly from the exceptionally weak comparative period. Demand for loading and unloading of vessels at sea was at a good level during the third quarter, while fluctuations in demand were occasionally considerable. In the forest and chemical industries, demand for transportation was at a high level, as expected.
All of the shipping company’s vessels have operated in their ideal regions, including
ESL Shipping’s solid operational expertise enabled the extremely effective operation of its vessels during the third quarter. Ports have continued to be very congested in the shipping company’s main operating areas due to higher traffic volumes, and partly due to the impact of the coronavirus pandemic on port operations.
The long-term development of sustainability and the maintenance of a high level of safety are essential to the shipping company’s operations. During the third quarter, the coronavirus pandemic continued to have an impact on crew changes, maintenance and spare parts deliveries on ESL Shipping’s vessels due to insufficient flight connections and various travel restrictions. Advance testing and quarantine arrangements for crew members continued to increase costs.
During the third quarter, the company made planned investments in the environmental friendliness of its vessels by docking five larger and two smaller vessel units. In total, there were 116 dockage days. The dockage of one larger vessel was postponed to the final quarter for a reason attributable to the shipyard. Smaller time-chartered vessels were out of service more than usual because of prolonged docking and coronavirus infections, among other reasons.
In September, AtoB@C, ESL Shipping’s Swedish subsidiary, announced that it would build a series of six energy-efficient next-generation hybrid vessels to respond to growing demand. The vessels will be built at the
ESL Shipping’s net sales in January–September increased significantly from the weak comparative period, amounting to
Outlook for
Demand for transportation in the company’s main market area in
The impact of the coronavirus pandemic on the market situation has decreased, but various measures limiting the functioning of societies may continue to affect demand and the shipping company’s operating activities during the rest of the year. Measures to protect employees’ health and safety will continue at their current level for the time being.
In
Telko
Telko is a leading expert in and supplier of plastic raw materials, industrial chemicals and lubricants. It operates as a responsible partner in the value chain by bringing together well-known international principals and customers. Its competitive advantages include technical support, efficient logistics and local expert service in both the east and the west. Kauko, reported as part of the Telko segment, is a specialist in demanding work environments, building smart device and service packages that ensure effective and seamless daily activities for employees, even in the most demanding working conditions. The Telko segment has companies in
7-9/2021 | 7-9/2020 | Change,% | 1-9/2021 | 1-9/2020 | Change,% | |
Net sales, MEUR | 73.0 | 62.5 | 16.8 | 205.1 | 185.6 | 10.5 |
Operating profit, MEUR | 2.5 | 4.2 | -40.5 | 12.5 | 10.8 | 15.7 |
Operating profit, % | 3.4 | 6.7 | 6.1 | 5.8 |
The Telko segment’s net sales increased significantly during the third quarter to
The strong increase in net sales, continuing in Telko’s business operations, raised Telko business’s operating profit during the third quarter to a record-breaking level. Demand remained high in all business operations, while difficulties in availability continued to restrict the development of volumes. Prices remained high, but fairly stable, during the quarter.
In the third quarter, Telko business’s net sales increased by 26.8% to
The net sales of the plastics business increased by 27% during the third quarter, amounting to
The net sales of the chemicals business increased by 18% to
The net sales of the lubricants business increased by 52% to
The Telko segment’s net sales increased by 11% during January–September to
Kauko’s net sales decreased by 55% during the third quarter, amounting to
Outlook for Telko for 2021
Telko’s short-term outlook is still associated with uncertainties. The availability situation will continue to be challenging, even though gradual improvements can be seen in some product groups. Transportation costs will remain high.
Demand is expected to remain fairly strong. Production difficulties due to the availability of raw materials and components independent of Telko will have a negative impact on Telko’s certain customer groups. This will have an indirect impact on demand for products offered by Telko.
Product prices are expected to remain high as a result of increases in crude oil prices and difficulties in deliveries. Growth is expected to remain strong in all markets, especially in eastern markets.
After the review period Aspo announced that Telko will acquire all shares of Estonian company Mentum AS. Mentum is a Castrol ambassador, and it operates in the premium lubricants business in automotive, industrial and marine business in the Baltic countries. The acquisition will increase Telko’s sales by
Leipurin
Leipurin is a wholesaler specializing in bakery, food industry and foodservice solutions. Leipurin’s business operations are divided into two areas: the bakery business and the machinery business. The solutions offered by the bakery business comprise raw materials, recipes, product range development, training, as well as foodservice and food business operations. As part of its machinery business, Leipurin delivers and maintains bakery equipment, in-store bakeries and other machinery and equipment for the food industry. The machinery business also includes
7-9/2021 | 7-9/2020 | Change,% | 1-9/2021 | 1-9/2020 | Change,% | |
Net sales, MEUR | 27.7 | 24.3 | 14.0 | 81.4 | 74.4 | 9.4 |
Operating profit, MEUR | 0.6 | 0.3 | 100.0 | 1.2 | 1.2 | 0.0 |
Operating profit, % | 2.2 | 1.2 | 1.5 | 1.6 |
Leipurin’s sales developed positively during the third quarter, even though the market situation remained challenging due to the coronavirus pandemic. Price level for Leipurin’s raw materials generally increased, even though price volatility remained high. The share of technical products has decreased, and the relative sales of basic products have increased. Consumer demand has shifted to lower priced product groups. The restrictions continue to make it difficult to complete product development projects. Structural changes in Leipurin’s market, accelerated by the coronavirus pandemic, affect net sales. Industrial bakeries are still strong in a difficult market situation.
Leipurin's net sales grew especially in
Leipurin’s net sales increased by 14% in the third quarter, amounting to
Net sales of the bakery business increased by 11% in the third quarter and stood at
Net sales of the machinery business increased by 64% to
Leipurin’s net sales in January–September increased by 9% to
Outlook for Leipurin for 2021
Restrictions related to the coronavirus pandemic vary in Leipurin’s operating countries. The markets and the circumstances of Leipurin’s customers are expected to normalize, provided that restrictions continue to be lifted. Demand in domestic markets will recover, while the lack of tourists will have a negative impact on demand in the Baltic region and
Other operations
Other operations include Aspo Group’s administration, the financial and ICT service center, and a small number of other functions not covered by business units. The operating result for other operations was
COMPANY INFORMATION
Aspo is a conglomerate that owns, leads and develops its businesses in
Aspo’s businesses –
Share capital and shares
Aspo Plc’s registered share capital on
During January–September 2021, a total of 3,031,732
The company had 11,498 shareholders at the end of the review period. A total of 1,269,726 shares, or 4.04% of the share capital, were nominee registered or held by non-domestic shareholders.
Remuneration
On
The rewards to be paid under the 2021–2023 share-based incentive plan are based on the Group’s earnings per share (EPS) during the 2021 financial year. The shares paid as reward may not be transferred during the restriction period, which will end on
The share-based incentive plan is directed at around 20 people, including the members of the Group Executive Committee. The rewards payable based on the plan correspond to a maximum total value of 204,000
Decisions of the Annual Shareholders’ Meeting
Dividend
Aspo Plc’s Annual General Meeting held on
The second installment of
The Board of Directors and the auditor
Mammu Kaario,
The Authorized Public Accountant firm
Board authorizations
Authorization of the Board of Directors to decide on the acquisition of treasury shares
The Annual General Meeting on
Authorization of the Board of Directors to decide on a share issue of treasury shares
The Annual General Meeting on
Authorization of the Board of Directors to decide on a share issue of new shares
The Annual General Meeting on
FINANCIAL INFORMATION
Aspo Group’s condensed consolidated statement of comprehensive income
7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | |
MEUR | MEUR | MEUR | MEUR | MEUR | |
Net sales | 148.0 | 118.4 | 423.2 | 367.2 | 500.7 |
Other operating income | 0.2 | 0.2 | 0.4 | 0.4 | 0.5 |
Share of profits accounted for using the equity method | 0.0 | -0.1 | -0.1 | -0.1 | -0.4 |
Materials and services | -92.1 | -76.6 | -259.4 | -234.1 | -315.8 |
Employee benefit expenses | -13.3 | -10.2 | -38.9 | -32.0 | -44.0 |
Depreciation, amortization, and impairment losses | -7.3 | -3.9 | -15.5 | -11.8 | -15.8 |
Depreciation, leased assets | -3.4 | -3.2 | -10.1 | -9.8 | -13.2 |
Other operating expenses | -24.5 | -21.0 | -74.5 | -68.1 | -92.7 |
Operating profit | 7.6 | 3.6 | 25.1 | 11.7 | 19.3 |
Financial income and expenses | -1.0 | -1.1 | -2.9 | -3.3 | -4.5 |
Profit before taxes | 6.6 | 2.5 | 22.2 | 8.4 | 14.8 |
Income taxes | -1.2 | -0.5 | -2.6 | -1.1 | -1.4 |
Profit | 5.4 | 2.0 | 19.6 | 7.3 | 13.4 |
Other comprehensive income | |||||
Items that may be reclassified to profit or loss in subsequent periods: | |||||
Translation differences | 0.8 | -3.5 | 2.3 | -7.5 | -7.8 |
Cash flow hedging | 0.1 | 0.1 | |||
Other comprehensive income for the period, net of taxes | 0.8 | -3.5 | 2.3 | -7.4 | -7.7 |
Total comprehensive income | 6.2 | -1.5 | 21.9 | -0.1 | 5.7 |
Profit attributable to shareholders | 5.4 | 2.0 | 19.6 | 7.3 | 13.4 |
Total comprehensive income attributable to shareholders | 6.2 | -1.5 | 21.9 | -0.1 | 5.7 |
Basic earnings per share, EUR | 0.16 | 0.05 | 0.59 | 0.20 | 0.39 |
Diluted earnings per share, EUR | 0.16 | 0.05 | 0.59 | 0.20 | 0.39 |
Aspo Group’s condensed consolidated balance sheet
9/2021 | 9/2020 | 12/2020 | |
Assets | MEUR | MEUR | MEUR |
Intangible assets | 51.4 | 51.0 | 55.2 |
Tangible assets | 167.5 | 174.0 | 169.1 |
Leased assets | 19.4 | 18.4 | 20.1 |
Investments accounted for using the equity method | 0.9 | 1.3 | 1.0 |
Other non-current assets | 0.8 | 0.6 | 0.8 |
Total non-current assets | 240.0 | 245.3 | 246.2 |
Inventories | 51.6 | 43.8 | 42.4 |
Accounts receivable and other receivables | 78.3 | 71.4 | 63.2 |
Cash and cash equivalents | 23.7 | 28.5 | 32.3 |
Total current assets | 153.6 | 143.7 | 137.9 |
Total assets | 393.6 | 389.0 | 384.1 |
Equity and liabilities | |||
Share capital and premium | 22.0 | 22.0 | 22.0 |
Other equity | 102.1 | 89.4 | 91.5 |
Total equity | 124.1 | 111.4 | 113.5 |
Loans and overdraft facilities | 116.4 | 164.8 | 149.1 |
Lease liabilities | 6.8 | 6.6 | 7.2 |
Other liabilities | 4.3 | 4.3 | 4.5 |
Total non-current liabilities | 127.5 | 175.7 | 160.8 |
Loans and overdraft facilities | 49.8 | 26.3 | 32.5 |
Lease liabilities | 13.1 | 12.2 | 13.4 |
Accounts payable and other liabilities | 79.1 | 63.4 | 63.9 |
Total current liabilities | 142.0 | 101.9 | 109.8 |
Total equity and liabilities | 393.6 | 389.0 | 384.1 |
*) Right-of-use assets in accordance with IFRS 16 standard have been renamed leased assets starting from
Aspo Group’s condensed consolidated cash flow statement
1-9/2021 | 1-9/2020 | 1-12/2020 | |
MEUR | MEUR | MEUR | |
CASH FLOWS FROM/USED IN OPERATING ACTIVITIES | |||
Operating profit | 25.1 | 11.7 | 19.3 |
Adjustments to operating profit | 26.5 | 21.2 | 29.2 |
Change in working capital | -12.6 | 11.4 | 23.0 |
Interest paid | -3.0 | -2.6 | -4.4 |
Interest received | 0.2 | 0.6 | 0.7 |
Income taxes paid | -2.9 | -2.4 | -2.8 |
Net cash from operating activities | 33.3 | 39.9 | 65.0 |
CASH FLOWS FROM/USED IN INVESTING ACTIVITIES | |||
Investments | -11.1 | -5.7 | -7.2 |
Investment subsidy | 1.0 | 2.5 | |
Proceeds from sale of tangible assets | 0.2 | 0.2 | 0.2 |
Acquisition of businesses | -4.7 | ||
Dividends received | 0.1 | 0.1 | |
Net cash used in investing activities | -9.9 | -5.4 | -9.0 |
CASH FLOWS FROM/USED IN FINANCING ACTIVITIES | |||
Change in current loans | -6.8 | -6.0 | 0.8 |
Repayments of non-current loans | -8.8 | -1.8 | -18.9 |
Payments of lease liabilities | -10.0 | -9.7 | -13.0 |
Hybrid bond repayment | -25.0 | -25.0 | |
Proceeds from Hybrid bond issue | 20.0 | 20.0 | |
Hybrid bond, interest paid | -1.7 | -1.6 | -1.6 |
Hybrid bond, transaction costs paid | -0.3 | -0.3 | |
Dividends paid | -5.6 | -3.4 | -6.9 |
Net cash used in financing activities | -32.9 | -27.8 | -44.9 |
Change in cash and cash equivalents | -9.5 | 6.7 | 11.1 |
Cash and cash equivalents | 32.3 | 23.7 | 23.7 |
Translation differences | 0.9 | -1.9 | -2.5 |
Cash and cash equivalents at period-end | 23.7 | 28.5 | 32.3 |
*)
Share capital and premium | Other reserves | Hybrid bond | Translation differences | Retained earnings | Total | |
MEUR | ||||||
Equity | 22.0 | 16.5 | 20.0 | -26.9 | 81.9 | 113.5 |
Comprehensive income: | ||||||
Profit for the period | 19.6 | 19.6 | ||||
Translation differences | 2.3 | 2.3 | ||||
Total comprehensive income | 2.3 | 19.6 | 21.9 | |||
Transactions with owners: | ||||||
Dividend payment | -10.9 | -10.9 | ||||
Interest on hybrid bond | -1.3 | -1.3 | ||||
Share-based incentive plan | 0.9 | 0.9 | ||||
Total transactions | -11.3 | -11.3 | ||||
with owners | ||||||
Equity | 22.0 | 16.5 | 20.0 | -24.6 | 90.2 | 124.1 |
Equity | 22.0 | 16.4 | 25.0 | -19.2 | 77.8 | 122.1 |
Comprehensive income: | ||||||
Profit for the period | 7.3 | 7.3 | ||||
Translation differences | -7.5 | -7.5 | ||||
Cash flow hedging | 0.1 | 0.1 | ||||
Total comprehensive income | 0.1 | -7.5 | 7.3 | -0.1 | ||
Transactions with owners: | ||||||
Dividend payment | -3.4 | -3.4 | ||||
Hybrid bond | -5.0 | -5.0 | ||||
Hybrid bond interest and transacion costs | -1.5 | -1.5 | ||||
Share-based incentive plan | -0.6 | -0.6 | ||||
Total transactions | -5.0 | -5.5 | -10.5 | |||
with owners | ||||||
Equity | 22.0 | 16.5 | 20.0 | -26.7 | 79.6 | 111.4 |
Accounting principles
Aspo Plc’s interim report has been prepared in accordance with the principles of IAS 34 Interim Financial Reporting. As of
Personnel
At the end of the quarter,
Net sales and segment information
Aspo Group’s reporting segments are
Net sales by business area | |||||
7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | |
MEUR | MEUR | MEUR | MEUR | MEUR | |
47.3 | 31.6 | 136.7 | 107.2 | 148.4 | |
47.3 | 31.6 | 136.7 | 107.2 | 148.4 | |
Telko | |||||
Plastics business | 38.1 | 30.0 | 107.0 | 91.1 | 122.9 |
Chemicals business | 22.2 | 18.8 | 60.2 | 57.7 | 74.6 |
Lubricants business | 9.3 | 6.1 | 28.0 | 18.3 | 27.4 |
Kauko | 3.4 | 7.6 | 9.9 | 18.5 | 26.4 |
73.0 | 62.5 | 205.1 | 185.6 | 251.3 | |
Leipurin | |||||
Bakery business | 25.4 | 22.9 | 70.6 | 66.4 | 90.6 |
Machinery business | 2.3 | 1.4 | 10.8 | 8.0 | 10.4 |
27.7 | 24.3 | 81.4 | 74.4 | 101.0 | |
Total | 148.0 | 118.4 | 423.2 | 367.2 | 500.7 |
Net sales by timing of revenue recognition | |||||
7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | |
MEUR | MEUR | MEUR | MEUR | MEUR | |
At a point in time | 0.7 | 0.7 | 2.7 | 1.6 | 2.3 |
Over time | 46.6 | 30.9 | 134.0 | 105.6 | 146.1 |
47.3 | 31.6 | 136.7 | 107.2 | 148.4 | |
Telko | |||||
At a point in time | 72.9 | 62.3 | 204.7 | 185.1 | 250.7 |
Over time | 0.1 | 0.2 | 0.4 | 0.5 | 0.6 |
73.0 | 62.5 | 205.1 | 185.6 | 251.3 | |
Leipurin | |||||
At a point in time | 26.5 | 23.8 | 77.8 | 70.9 | 97.2 |
Over time | 1.2 | 0.5 | 3.6 | 3.5 | 3.8 |
27.7 | 24.3 | 81.4 | 74.4 | 101.0 | |
Total | |||||
At a point in time | 100.1 | 86.8 | 285.2 | 257.6 | 350.2 |
Over time | 47.9 | 31.6 | 138.0 | 109.6 | 150.5 |
148.0 | 118.4 | 423.2 | 367.2 | 500.7 |
Net sales by market area | |||||
7-9/2021 | 7-9/2020 | 1-9/2021 | 1-9/2020 | 1-12/2020 | |
MEUR | MEUR | MEUR | MEUR | MEUR | |
21.3 | 13.8 | 64.1 | 50.6 | 69.4 | |
Scandinavia | 11.2 | 9.0 | 36.7 | 29.9 | 41.3 |
Baltic countries | 0.5 | 0.9 | 1.2 | 1.1 | 2.2 |
0.8 | 1.0 | 1.9 | 3.3 | 5.4 | |
Other countries | 13.5 | 6.9 | 32.8 | 22.3 | 30.1 |
47.3 | 31.6 | 136.7 | 107.2 | 148.4 | |
Telko | |||||
15.5 | 17.7 | 44.9 | 50.1 | 67.7 | |
Scandinavia | 13.0 | 8.3 | 38.3 | 26.3 | 36.6 |
Baltic countries | 4.8 | 4.0 | 15.5 | 12.4 | 16.0 |
31.2 | 26.3 | 83.3 | 77.0 | 104.4 | |
Other countries | 8.5 | 6.2 | 23.1 | 19.8 | 26.6 |
73.0 | 62.5 | 205.1 | 185.6 | 251.3 | |
Leipurin | |||||
11.2 | 9.2 | 30.5 | 29.1 | 39.8 | |
Scandinavia | 0.6 | 0.0 | 2.2 | 0.0 | 0.0 |
Baltic countries | 8.1 | 7.3 | 22.2 | 20.5 | 27.9 |
7.6 | 7.5 | 26.1 | 23.6 | 31.7 | |
Other countries | 0.2 | 0.3 | 0.4 | 1.2 | 1.6 |
27.7 | 24.3 | 81.4 | 74.4 | 101.0 | |
Total | |||||
48.0 | 40.7 | 139.5 | 129.8 | 176.9 | |
Scandinavia | 24.8 | 17.3 | 77.2 | 56.2 | 77.9 |
Baltic countries | 13.4 | 12.2 | 38.9 | 34.0 | 46.1 |
39.6 | 34.8 | 111.3 | 103.9 | 141.5 | |
Other countries | 22.2 | 13.4 | 56.3 | 43.3 | 58.3 |
148.0 | 118.4 | 423.2 | 367.2 | 500.7 |
Segment information | ||||||
Reconciliation of segment operating profit to the group's profit before taxes | ||||||
1-9/2021 | ||||||
Telko | Leipurin | Unallocated | Group | |||
MEUR | items | total | ||||
Operating profit | 17.0 | 12.5 | 1.2 | -5.6 | 25.1 | |
Net financial expenses | -2.9 | -2.9 | ||||
Profit before taxes | 22.2 | |||||
1-9/2020 | ||||||
Telko | Leipurin | Unallocated | Group | |||
MEUR | items | total | ||||
Operating profit | 2.8 | 10.8 | 1.2 | -3.1 | 11.7 | |
Net financial expenses | -3.3 | -3.3 | ||||
Profit before taxes | 8.4 | |||||
Investments by segment | ||||||
Telko | Leipurin | Unallocated | Group | |||
MEUR | items | total | ||||
Investments | 1-9/2021 | 9.6 | 0.4 | 0.1 | 0.0 | 10.1 |
Investments | 1-9/2020 | 5.4 | 0.3 | 0.0 | 0.0 | 5.7 |
Segment assets and liabilities | ||||||
Telko | Leipurin | Unallocated | Group | |||
MEUR | items | total | ||||
Assets | 210.4 | 77.7 | 59.9 | 36.1 | 384.1 | |
Assets | 213.6 | 93.1 | 59.5 | 27.4 | 393.6 | |
Liabilities | 27.7 | 32.7 | 19.9 | 190.3 | 270.6 | |
Liabilities | 30.3 | 40.4 | 16.9 | 181.8 | 269.4 |
Board of Directors
Press and analyst conference
A press, analyst and investor conference will be held at FLIK’s Studio Eliel in Sanomatalo, Töölönlahdenkatu 2, 00100 Helsinki, on
The interim report will be presented by CEO
The press conference will be held in Finnish, and it can also be followed by a live webcast at https://aspo.videosync.fi/2021-q3-results, or by calling +358 9 817 103 10310 (62598237#) 5 to 10 minutes before the beginning of the press conference. The recording of the event will be available on the company’s website later on the same day.
CEO | CFO |
For more information, please contact:
DISTRIBUTION:
Nasdaq
Key media
www.aspo.com
Aspo is a conglomerate that owns and develops businesses in
Attachment
Aspo Plc Interim Report Q3 2021
© OMX, source