In 2018, Aspo made significant investments to ensure future growth and reach its financial targets. We expect Aspo’s strong financial development to continue, and indebtedness to decrease.
2018 was a year of good growth for Aspo, and we made the best operating profit in our history before the impairment loss recognized on goodwill. The shipping company’s new vessels and the business acquisition completed in Sweden, combined with investments in expanded operations, for example in Central Asia, enabled Aspo’s strong financial development to continue and indebtedness to decrease.
+51.1 % (2017)
-1.1 % (2017)
+1.5 % (2017)
-13.0 % (2017)
+9.3 % (2017)
+22.5 % (2017)
+3.1 % (2017)
+4.2 % (2017)
+5.1 % (2017)
+11.9 % (2017)
+6.5 % (2017)
+12.0 % (2017)
-2250.0 % (2017)
* Operating profit adjusted by an impairment loss of EUR 4.8 million recognized on Kauko's goodwill
** The percentage is calculated from total operating profit of segments, without operating profit of Other operations -segment
Aspo has the skills, determination and resources to develop its businesses in light of its far-reaching strategic vision, from generation to generation. The company aims to increase and internationalize medium-sized companies specialized in demanding B2B customers. Aspo has extensive experience in building profitable operations in emerging markets. Operating in multiple fields enables the steady development of profit and diversified risks. As a conglomerate, Aspo also has significant profit-making potential.
Offering an extensive strategic understanding of the operating environment.
Enabling larger investments, which single businesses would not necessarily have the prerequisites for.
Forming a balanced entity with dispersed cash flows according to both business and geographical region.
Establishing a structure that balances fluctuations in economic situations because of cycles that differ from one subsidiary to another.
Performing
long-term developments from generation to generation.
Enabling structural arrangements. Businesses can be developed dynamically and independently.
We believe that socially, financially and environmentally sustainable operations are fundamental for long-term value creation. As an active owner, we continuously want to develop our operations and advance good operating practices in our operating countries.
Following our own requirements, which are partly stricter than general regulations, is crucial particularly in less developed markets. In the social responsibility of our businesses that represent trade and logistics, the questions of human rights in our supply chains play an important role among other things. Along with managing impacts of our operations, we want to help our customers to develop responsible operations by offering sustainable options, for example, for logistics.
Aspo’s application to join the UN’s Global Compact initiative was approved and thus Aspo has committed to adopt, support and implement the ten principles in the areas of human rights, labour, environment and anti-corruption within our scope of influence.
We believe the only way to develop maritime transport is through solutions based on automation and environmental efficiency. ESL Shipping’s new dry bulk carriers ms Viikki and ms Haaga, which are among the lowest emission vessels in the world, started operating in the Baltic Sea in fall 2018.
Food waste, i.e. unnecessarily produced food, is a problem for the environment, as it causes unnecessary greenhouse gas emissions. The goal of Leipurin is to reduce its environmental footprint by minimizing food waste and the volume of waste in general.
Aspo Group’s employees are its key resources. All employees must be able to work in an inspiring and motivating atmosphere. Occupational safety is one of the most important factors related to wellbeing at work.
Open interaction, compliance with agreements and mutual trust are key factors in the success of Telko and its subcontractors. Telko is currently developing the responsible management of the supply chain.
Reaching our long-term financial targets by 2020 is proceeding as planned. The investments and business acquisitions completed in 2018 strengthen our future cash flow even further.
Aspo's goal is to annually increase the amount of dividends.
Aspo revised its dividend policy in November 2018. In 2017, Aspo was among the first Finnish companies to distribute dividends twice a year.
Through the business transaction, ESL Shipping’s position strengthens in the smaller vessel category. Its operations expand as a result of new customers and new material flows.
(29.06.2018)Danish Square Oil is a service and distribution company for lubricants. It is specialized in demanding industrial lubrication customers. Its largest client is BP Castrol.
(16.08.2018)The 160-meter, LNG-fueled vessel of 25,600 dwt produces more than 50% fewer carbon dioxide emissions than the previous vessel generation. The vessel significantly reduces environmental emissions in customers’ transport chains and increases the flexibility of deliveries.
(20.08.2018)The 160-meter, LNG-fueled vessel of 25,600 dwt produces more than 50% fewer carbon dioxide emissions than our previous vessel generation. The vessel significantly reduces environmental emissions in customers’ transport chains and increases the flexibility of deliveries.
(04.09.2018)Petter Ruda (M.Sc. Econ.) is appointed ESL Shipping’s new CFO. He starts in his position on October 1, 2018.
(01.10.2018)Telko’s new address is Keilaranta 17, FI-02150 Espoo, Finland.
(12.11.2018)The change is based on Aspo’s goal to distribute annually increasing dividends.
(21.11.2018)ESL Shipping aims at net sales of EUR 200 million and an operating profit rate of 12–15% by 2020. The goal is boosted by the new LNG-fueled vessels and the acquisition of shipping company AtoB@C.
(21.11.2018)Leipurin seeks net sales of EUR 7 million and an operating profit rate of 5% by 2022. Leipurin continues its profitable growth in Russia and other eastern markets. Its goal is to gain a significant position in the foodservice sector.
(21.11.2018)Telko is still successfully carrying out its mission defined in 1908. During its history, Telko has expanded to dozens of countries in Europe and Asia through its 17 subsidiaries.
(25.11.2018)The operations of HH plastkombi consist of the distribution of technical plastics, masterbatches and BOY injection molding machines in Denmark, and the sale of different supplies in the plastic industry.
(29.11.2018)Aspo’s new address is Mikonkatu 13 A, FI-00101 Helsinki, Finland.
(03.12.2018)Aspo’s application to join the UN’s Global Compact initiative was approved and thus Aspo has committed to adopt, support and implement the ten principles in the areas of human rights, labour, environment and anti-corruption within our scope of influence.
(04.12.2018)Aspo is a conglomerate that creates value by developing and internationalizing businesses in Northern Europe and growth markets. Aspo’s value comes from its wholly owned independent businesses, which specialize in demanding B2B customers. ESL Shipping, Leipurin and Telko are strong business brands in the field of trade and logistics, and they are seeking the leading position in their respective markets. Aspo develops its group structure and businesses responsibly, and in the long term.
ESL Shipping is the leading carrier of dry bulk cargo in the Baltic Sea region. At the end of the financial period, the shipping company’s fleet comprised 49 vessels with a combined deadweight tonnage of 464,000 tons. ESL Shipping's competitive edge is based on its ability to secure product and raw material transportation for industrial and energy productions around the year, even in difficult weather conditions. The shipping company’s vessels are able to efficiently and safely load and unload other vessels, also at sea. In fall 2018, ESL Shipping’s two the world’s most environmentally friendly bulk carriers, ms Viikki and ms Haaga, started their operations.
Leipurin is a unique provider of comprehensive solutions in bakery, confectionery product and foodservice markets. Leipurin operates in Finland, Russia, the Baltic countries, Poland, Ukraine, Kazakhstan and Belarus.
Telko is the leading expert and supplier of plastic raw materials and industrial chemicals in Finland and its neighboring areas. Telko’s strengths include efficient logistics, technical customer service and deliveries customized according to the customers’ production processes. Telko operates in Finland, the Baltic countries, Scandinavia, Poland, the Czech Republic, Slovenia, Ukraine, Russia, Belarus, Kazakhstan, Turkmenistan, Tajikistan, Kyrgyzstan, Azerbaijan, Georgia, and China.
Aki Ojanen
Chief Executive Officer
+358 40 010 6592
aki.ojanen@aspo.com
Harri Seppälä
Group Treasurer
+358 40 061 7201
harri.seppala@aspo.com
