The goal of our strategy is to maximize the shareholder value
INCREASING THE SHAREHOLDER VALUE IN THE LONG TERM
Aspo’s strategy is to create value by owning and developing businesses sustainably in the long term. We seek market leadership in all our business areas. Our key focus areas are:
- profitable organic growth,
- strategic acquisitions,
- investments in new environmentally friendly vessels, and the continuous development of operations.
TWO SEPARATE COMPANIES AS A VISION
Aspo’s vision is to form two separate companies in the future: Aspo Compounder and Aspo Infra.
- Aspo Compounder will focus on the operations of Telko and Leipurin that are based on continuous growth and improved profitability organically and through business acquisitions.
- Aspo Infra will focus on ESL Shipping, which is investing significantly in the green transition and new technologies.
The companies’ business models differ from one another in several areas, including growth investments, business timeframes, needs for funding and sustainability goals.
The shareholder value will be maximized regarding the implementation and timing of the change. Options include a demerger, initial public offering and business divestments. Timing depends on such factors as growth investments, business performance and the market situation. During the change process, Aspo’s operations will focus on implementing business strategies and improving profitability.
TARGETS FOR 2028
Aspo has set a financial target to achieve in 2028:
- 1 billion euros in net sales
- 8 percent EBITA
Achieving this target requires a total investment of approximately EUR 300–350 million between 2024 and 2028, of which approximately EUR 205 million has already been committed. The investment focuses on Telko's and Leipurin's acquisitions and investments in ESL Shipping's new capacity.
BUSINESSES WITH SEPARATE STRATEGIES
Aspo’s business areas have different strategies customized according to their individual needs and markets.
ESL Shipping: Enabling the green transition for Nordic industry. This can be achieved by investing in an environmentally friendly and fossil-free fleet, as well as technologies. The company’s business-specific target is to achieve net sales of more than EUR 300 million and an EBITA rate of 14% by 2028.
Telko: Organic growth supported by business acquisitions and scalability. The goal is to be the leading European specialist in and distributor of special products. The company’s
business-specific target is to achieve net sales of more than EUR 500 million and an operating profit (EBITA) rate of 8% by 2028.
Leipurin: Organic growth and improved profitability. Leipurin’s growth focuses on prioritized segments, including the food industry, industrial bakeries and new markets. The company’s business-specific target is to achieve net sales of more than EUR 200 million and an EBITA rate of 5% by 2028.
SUSTAINABLE DEVELOPMENT SUPPORTS PROFITABILITY
Sustainability and profitability go hand in hand in Aspo’s business operations. This is why Aspo Group has set ambitious sustainable development goals and strives to lead the way in sustainable business practices. Aspo and its businesses became committed to the Science Based Targets initiative (SBTi) at the end of 2024. Each Aspo business strives to lead the way in sustainability in its respective sector.
DIVIDEND POLICY ALIGNED WITH THE STRATEGY
The dividend policy has been adapted according to the company’s strategy and growth targets, the ongoing change, and the special characteristics of business operations. Dividend growth takes into account the needs for funding in strategically important growth projects and is based on the positive development of profitability. The goal is to annually distribute at most 50% of profit for the period in dividends.