Stock releases

Aspo Capital Markets Day: Aspo changes Its dividend policy

Published Nov 21, 2018 9:32:47 AM

Aspo Plc
Stock exchange release
November 21, 2018 at 9:30 a.m.


The Aspo conglomerate will be holding a Capital Markets Day in Helsinki today, November 21, 2018, starting at 11:00 a.m.

Aspo will change its dividend policy. Long-term financial targets remain unchanged.

According to its new dividend policy, Aspo's goal is to annually increase the amount of dividends. Previously, Aspo's goal was to pay, on average, at least half of the profit for the period in dividends.

Aspo's financial targets remain unchanged. With its current structure, Aspo is looking for an operating profit rate of 7%, ROE over 20% on average and gearing of up to 100%. Aspo aims to reach the financial targets set by 2020.

ESL Shipping aims at net sales of EUR 200 million and an operating profit rate of 12-15% in 2020

ESL Shipping aims at net sales of EUR 200 million and an operating profit rate of 12-15% in 2020. As a result of its new eco-friendly LNG-fueled vessels and the acquisition of the AtoB@C shipping company, ESL Shipping is striving for a significantly higher euro-denominated operating profit level.

Telko continues to grow and improve its profitability

Telko estimates that its net sales will be at EUR 300-350 million and its operating profit will increase to 6-7% in 2020.

Telko's growth is supported by the expected positive development in the distribution market and the increased demand for customized products and services. Telko will continue to develop services that produce added value and is looking for even higher profitability by continuously improving the efficiency of its operations. Telko is expected to mainly grow organically and possibly through business acquisitions.

Leipurin aims at operating profit of EUR 7 million and an operating profit rate of 5% in 2022

Leipurin will continue its profitable growth in the east. Leipurin aims to gain a significant market position in foodservice operations, in which profitability will be higher than in traditional bakery raw material operations.

Aspo's guidance for 2018 remains unchanged

Aspo's operating profit will be EUR 25-31 (23.1) million in 2018.

Presentation material and recordings related to the Capital Markets Day

A live webcast (in Finnish) will begin on November 21, at 11.30 a.m. Finnish time at An on-demand version of the webcast will be available on the company's website later on the same day.

The presentation material (in English) will be available at on Wednesday, November 21, at approximately 11:30 a.m.

Presentation material


Aki Ojanen

Further information, please contact:

Aki Ojanen, CEO, Aspo Plc, tel. +358 400 106 592,;
Harri Seppälä, Group Treasurer, Aspo Plc, tel. +358 400 617 201,

Nasdaq Helsinki
Key media

Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets focusing on demanding b-to-b customers. Our strong company brands - ESL Shipping, Leipurin, Telko and Kauko - aim to be the market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these. Together they generate Aspo's goodwill. Aspo's Group structure and business operations are continually developed without any predefined schedules