Stock Exchange Release
April 9, 2020 9:25 am
Aspo Plc withdraws its financial guidance for 2020
Aspo Plc withdraws its financial guidance for 2020. Due to the effects of the coronavirus pandemic, the company estimates that it is not yet possible to make reasonable estimates and provide financial guidance based on them.
Aspo’s previous guidance for 2020, given in connection with the financial statements release on February 13, 2020, was: Aspo’s operating profit in 2020 will be higher than in 2019 (EUR 21.1 million).
Aspo will today publish preliminary information on its first quarter 2020 results in a separate stock exchange release and will publish its interim report in accordance with the previously announced schedule on May 5, 2020.
Aspo's businesses have so far suffered relatively little from the weakened market situation caused by the coronavirus, but during the second quarter the company estimates that the market situation will deteriorate in all its business segments. Restrictions on movement and work enforced by various countries reduce the demand for products and transport services, hamper Telko's and Leipurin’s sales operations and slow down the movement of ESL Shipping's vessels, especially in ports. The pace of the market recovery and its timing after the coronavirus pandemic is difficult to predict, so the market outlook for the second half of 2020 cannot be estimated either.
Aki Ojanen, CEO
tel. +358 400 106 592, firstname.lastname@example.org
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.