ASPO INTERIM REPORT JANUARY 1 - JUNE 30, 2006
2006-08-24T08:01:17 CETNet sales grew to EUR 102.5 million, operating profit EUR 4.0 million
- Aspo Group's net sales in January-June amounted to EUR 102.5 million (EUR 94.9 million)
- Operating profit stood at EUR 4.0 million (EUR 7.7 million)
- Pre-tax earnings amounted to EUR 3.1 million (EUR 7.1 million)
- Earnings per share stood at EUR 0.09 (EUR 0.21)
- The financial performance for the rest of the year is expected to improve over the first half of the year. Net sales will continue to increase but the comparable full-year operating profit for 2006 will probably fall short of last year.
Gustav Nyberg, CEO of Aspo:
"Aspo's net sales increased in January-June 2006, mostly on the strength of general market conditions that continued to be moderately strong. We were able to increase the efficiency of our operations in the second quarter but, due to a variety of factors, our earnings performance was modest.
The Chemicals Division recorded the best performance in the first half of the year. Market conditions remained stable petrochemical prices following the upward trend in crude oil prices. Net sales continued to increase at a pace of more than 20%, and there was a clear improvement in the operating profit.
Market conditions for the Shipping Division only started to improve close to the end of the period. Expensive fuels and problems with the availability of raw materials being shipped substantially hampered the Division's profitability.
Even though the year started favorably for the Systems Division, its performance deteriorated towards the end of the period. Net sales increased but earnings remained well in the red. In order to rectify the situation, an action plan has been initiated. The aim of the plan is to improve efficiency, cut the costs of the Autotank Group and ensure positive earnings development."
ASPO Plc
Gustav Nyberg
CEO
For further information, contact:
Gustav Nyberg, tel. +358 9 7595 256 or +358 40 503 6420