Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Director Annika Ekman was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Mar 03
Lantmännen Ekonomisk Förening completed the acquisition of Leipurin business of Asbo Oyj (HLSE:ASPO) for €62 million. Lantmännen Ekonomisk Förening agreed to acquire Leipurin business of Asbo Oyj (HLSE:ASPO) for estimated €60 million on August 15, 2025. A cash consideration of €60 million will be paid by Lantmännen Ekonomisk Förening. As part of consideration, €60 million is paid towards assets of Leipurin business of Asbo Plc.
For the period ending December 31, 2024, Leipurin business of Asbo Plc reported total revenue of €133.1 million. The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is January 1, 2026 to March 31, 2026.
Jesse Kivisaari of Cobalt Legal acted as legal advisor for Asbo Oyj. Marcus Möller, Antti Luhtala, Ritva Aalto, Simo Autio, Pessi Honkasalo, Samu Lassila, Paul Raade and Salha Hanna of Krogerus acted as legal advisor for Asbo Oyj.
Lantmännen Ekonomisk Förening completed the acquisition of Leipurin business of Asbo Oyj (HLSE:ASPO) on March 2, 2026. The cash consideration payable at closing was €62 million. The transaction has received all required regulatory approvals. Announcement • Feb 17
Aspo Oyj announces Annual dividend, payable on April 28, 2026 Aspo Oyj announced Annual dividend of EUR 0.2500 per share payable on April 28, 2026, ex-date on April 20, 2026 and record date on April 21, 2026. Announcement • Jan 23
Aspo Oyj Announces Executive Changes Aspo announced in November 2025 that it will continue to evaluate the strategic alternatives for the company, with the main alternatives including a possible partial demerger of Aspo or a divestment of ESL Shipping. Aspo’s Executive Team changes as it has been agreed with Mikko Pasanen that he will leave his position as the Managing Director of Telko. The CEO of Aspo Rolf Jansson has been appointed as Managing Director of Telko as of 23 January, 2026. Announcement • Apr 25
Aspo Oyj Approves Dividend for 2024, Payable on May 7, 2025 and November 6, 2025 Aspo Oyj at its AGM held on April 25, 2025, approved the payment of a dividend totaling EUR 0.19 per share to be paid in two instalments. For the first dividend instalment (EUR 0.09 per share) the record date is April 29, 2025 and the payment date is May 7, 2025. For the second dividend instalment (EUR 0.10 per share) the record date is October 30, 2025, and the payment date is November 6, 2025. In addition, the Annual General Meeting authorized the Board of Directors to decide, if necessary, on a new record date and payment date for the second dividend instalment, should the rules of Euroclear Finland Oy or statutes applicable to the Finnish book-entry system be amended or other rules binding on the Company so require. Announcement • Feb 17
Aspo plc Proposes Dividend for the Financial Year 2024, Payable on May 7, 2025 and November 6, 2025 The Board of Directors of Aspo Plc proposed to the Annual General Meeting to be held on April 25, 2025, that EUR 0.19 per share be distributed in dividends for the 2024 financial year, and that no dividend is paid for shares held by Aspo Plc. The proposed dividend represents 49% of Aspo’s comparable earnings per share for 2024. It is proposed that the dividend is paid in two instalments. The first instalment of EUR 0.09 per share is proposed to be paid to shareholders registered on the record date of April 29, 2025 in the company’s register of shareholders maintained by Euroclear Finland Oy. The Board proposes that the payment date for the first dividend instalment would be May 7, 2025. The second instalment of EUR 0.10 per share is proposed to be paid to shareholders registered on the record date of October 30, 2025 in the company’s register of shareholders maintained by Euroclear Finland Oy. The Board proposes that the payment date for the second dividend instalment would be November 6, 2025. Announcement • Feb 16
Aspo Oyj to Report Fiscal Year 2024 Final Results on Mar 20, 2025 Aspo Oyj announced that they will report fiscal year 2024 final results at 10:00 AM, USSR Zone1 on Mar 20, 2025 Announcement • Oct 30
Aspo Oyj, Annual General Meeting, Apr 25, 2025 Aspo Oyj, Annual General Meeting, Apr 25, 2025. Location: helsinki Finland Reported Earnings • Oct 29
Third quarter 2024 earnings released: EPS: €0.07 (vs €0.14 in 3Q 2023) Third quarter 2024 results: EPS: €0.07 (down from €0.14 in 3Q 2023). Revenue: €148.0m (up 14% from 3Q 2023). Net income: €2.80m (down 47% from 3Q 2023). Profit margin: 1.9% (down from 4.1% in 3Q 2023). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Industrials industry in Europe. Announcement • Oct 04
Aspo Oyj Appoints Karri Kivi as Senior Vice President, Corporate Development Aspo has appointed M.Sc. (Econ.) Karri Kivi (b. 1974) as the new Senior Vice President, Corporate Development. Karri reports to Rolf Jansson, CEO of the Aspo Group, and is a member of the Group Executive Committee. Karri’s responsibilities include development of the company’s portfolio strategy, supporting and developing business strategies in cooperation with Group subsidiaries and mergers and acquisitions. Karri will start in his new position latest in December 2024. Karri has wide experience from investment banking, in Finland and abroad, incl. Citigroup, Carnegie, Nomura International, Lincoln International and PwC. Karri has also worked for Wärtsilä as a director in M&A and corporate development. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: €0.07 (vs €0.05 in 2Q 2023) Second quarter 2024 results: EPS: €0.07 (up from €0.05 in 2Q 2023). Revenue: €154.6m (up 17% from 2Q 2023). Net income: €2.80m (up 87% from 2Q 2023). Profit margin: 1.8% (up from 1.1% in 2Q 2023). Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Industrials industry in Europe. Announcement • Jun 13
Aspo Oyj Announces Nomination Board Appointments Aspo Oyj as of May 31, 2024, are elected to Aspo's Shareholders' Nomination Board. The four largest shareholders of Aspo Plc have nominated the following members to Aspo's Shareholders' Nomination Board: Roberto Lencioni, Vehmas family including AEV Capital Holding Oy, Gustav Nyberg, Nyberg family including Oy Havsudden Ab, Pekka Pajamo, Varma Mutual Pension Insurance Company Karoliina Lindroos, Ilmarinen Mutual Pension Insurance CompanyThe Nomination Board elected Roberto Lencioni as the Chairman in its organizing meeting. In addition, Heikki Westerlund, Chairman of Aspo Board of Directors, acts as an expert member of the Nomination Board. Announcement • May 15
Aspo Oyj Updates Dividend Policy To support the growth strategy execution, Aspo’s dividend policy has been updated to reflect company strategy and growth ambition, the ongoing transition and specific business characteristics. Aspo's revised dividend policy: Aspo’s dividend growth is based on positive profitability development with the aim to pay-out annually up to 50% of net profit as dividend. The goal is to gradually increase the amount of dividends, while considering financing needs of growth initiatives with strategic priority. Reported Earnings • May 08
First quarter 2024 earnings released: €0.16 loss per share (vs €0.19 profit in 1Q 2023) First quarter 2024 results: €0.16 loss per share (down from €0.19 profit in 1Q 2023). Revenue: €132.9m (down 6.1% from 1Q 2023). Net loss: €4.60m (down 172% from profit in 1Q 2023). Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Industrials industry in Europe. Upcoming Dividend • Apr 08
Upcoming dividend of €0.24 per share Eligible shareholders must have bought the stock before 15 April 2024. Payment date: 23 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.8%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.8%). Declared Dividend • Mar 18
Final dividend of €0.24 announced Shareholders will receive a dividend of €0.24. Ex-date: 15th April 2024 Payment date: 23rd April 2024 Dividend yield will be 8.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not covered by earnings (104% earnings payout ratio). However, it is covered by cash flows (57% cash payout ratio). The dividend has increased by an average of 1.1% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control. EPS is expected to grow by 60% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. New Risk • Mar 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 5.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Dividend is not well covered by earnings (104% payout ratio). Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: €0.45 (vs €0.70 in FY 2022) Full year 2023 results: EPS: €0.45 (down from €0.70 in FY 2022). Revenue: €540.7m (down 16% from FY 2022). Net income: €16.2m (down 26% from FY 2022). Profit margin: 3.0% (down from 3.4% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Industrials industry in Europe. Announcement • Feb 16
Aspo plc Proposes Dividend for the Year 2023, Payable on April 23, 2024 The Board of Directors proposes to the Annual Shareholders’ Meeting of Aspo Plc to be held on April 12, 2024, that EUR 0.24 per share be distributed in dividends for the 2023 financial year. The dividend of EUR 0.24 per share would be paid to shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd. on the record date of April 16, 2024. The Board of Directors proposes that the dividend be paid on April 23, 2024. The Board of Directors will decide at its meeting scheduled to be held latest in November 2024, on the possible distribution of capital from the invested unrestricted equity fund in the maximum amount of EUR 0.23 per share, which would be paid in November 2024 to shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd. on the record date. Buying Opportunity • Jan 18
Now 20% undervalued Over the last 90 days, the stock is up 8.3%. The fair value is estimated to be €7.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 0.7% per annum. Earnings is also forecast to grow by 27% per annum over the same time period. Buying Opportunity • Nov 24
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €7.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 7.4%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is also forecast to grow by 27% per annum over the same time period. New Risk • Nov 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (93% net debt to equity). Dividend is not well covered by earnings (145% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Announcement • Nov 03
Aspo Oyj Appoints Susanna Kemppinen as Communications and Sustainability Director Aspo Oyj announced that Susanna Kemppinen (M.Sc. Econ.) has been appointed Aspo Group’s Communications and Sustainability Director. She will start in this position on December 1, 2023. Susanna Kemppinen joins Aspo from Neste, where she has worked as Investor Relations Manager and as Communications Manager. Before that she worked as Financial Communications Manager at Stora Enso. Kemppinen will report to Taru Uotila, SVP Legal, HR and Sustainability. New Risk • Nov 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (93% net debt to equity). Dividend is not well covered by earnings (145% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). New Risk • Aug 11
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks High level of debt (102% net debt to equity). Dividend is not well covered by earnings (150% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: €0.05 (vs €0.35 in 2Q 2022) Second quarter 2023 results: EPS: €0.05 (down from €0.35 in 2Q 2022). Revenue: €134.0m (down 17% from 2Q 2022). Net income: €1.50m (down 86% from 2Q 2022). Profit margin: 1.1% (down from 6.8% in 2Q 2022). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Industrials industry in Europe. Announcement • Aug 10
Aspo Reaffirms Earnings Guidance for the Full Year 2023 Aspo reaffirmed earnings guidance for the full year 2023. Aspo Group’s comparable operating profit will be EUR 25–35 million in 2023 (2022: EUR 55.3 million). Announcement • Jun 07
Aspo Plc Announces Board Appointments Aspo Plc announced the Representatives of the four large shareholders registered in Aspo’s shareholder register as of May 31, 2023, are elected to Aspo's Shareholders' Nomination Board. The four large shareholders of Aspo Plc have nominated the following members to Aspo's Shareholders' Nomination Board: Roberto Lencioni, Vehmas family including AEV Capital Holding Oy; Gustav Nyberg, Nyberg family including Oy Havsudden Ab; Pekka Pajamo, Varma Mutual Pension Insurance Company; Annika Ekman, Ilmarinen Mutual Pension Insurance Company. The Nomination Board elected Roberto Lencioni as the Chairman in its organizing meeting. In addition, Heikki Westerlund, Chairman of Aspo Board of Directors, acts as an expert member of the Nomination Board. The Shareholders' Nomination Board of Aspo is an organ established by the Annual Shareholders Meeting consisting of shareholders or representatives of shareholders to prepare and present proposals to Annual Shareholders Meeting concerning the number and members of the Board of Directors and the remuneration of the Board of Directors and its committees. Announcement • May 27
Arto Meitsalo to Leave as CFO of Aspo Oyj Aspo Plc announced that Arto Meitsalo, Aspo Group’s CFO, will leave the company after turning 60 years. The search for his successor is starting and Meitsalo will work as the CFO until his successor has been chosen and has got familiar with Aspo’s strategy and finances. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: €0.19 (vs €0.22 in 1Q 2022) First quarter 2023 results: EPS: €0.19 (down from €0.22 in 1Q 2022). Revenue: €142.1m (down 11% from 1Q 2022). Net income: €6.40m (down 11% from 1Q 2022). Profit margin: 4.5% (in line with 1Q 2022). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Industrials industry in Europe. Upcoming Dividend • Mar 29
Upcoming dividend of €0.23 per share at 5.5% yield Eligible shareholders must have bought the stock before 05 April 2023. Payment date: 17 April 2023. Payout ratio is a comfortable 66% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (3.0%). Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: €0.69 (vs €0.86 in FY 2021) Full year 2022 results: EPS: €0.69 (down from €0.86 in FY 2021). Revenue: €646.7m (up 13% from FY 2021). Net income: €23.5m (down 13% from FY 2021). Profit margin: 3.6% (down from 4.7% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Industrials industry in Europe. Announcement • Jan 18
Aspo Oyj to Report Fiscal Year 2022 Final Results on Mar 10, 2023 Aspo Oyj announced that they will report fiscal year 2022 final results at 10:00 AM, USSR Zone1 on Mar 10, 2023 Announcement • Dec 16
Aspo Oyj Announces Board Changes Taru Uotila appointed Aspo Group’s director of legal affairs, HR and sustainability and a member of Aspo’s Group Executive Committee. Taru Uotila (LL.M) has been appointed Aspo Group's director of legal affairs, HR and sustainability and a member of Aspo's Group Executive committee. She will start in her position on January 2, 2023. Previously Uotila worked as VR Group's General Counsel from 2017 to 2022 and as a member of VR Group's management team from 2019. In VR Group's management team, Uotila was responsible for legal, regulatory and sustainability matters. In addition, she served as VR Group's interim human resources director in early 2022. Uotila has more than 20 years of experience in various positions in business law at law firms, Fortum and GE Healthcare. Announcement • Dec 08
Aspo Group Announces the Leaving of Toni Santalahti as Director of Legal Affairs and A Member of the Group Executive Team Toni Santalahti, Aspo Group’s Director of Legal Affairs and a member of the Group Executive Team, will leave the company to take on new challenges outside the company. Santalahti will leave his position by the end of March 2023. Toni has had a long and meritorious career at Aspo Group. Announcement • Nov 18
Aspo Oyj Announces Board Changes and Nomination Board for AGM The Nomination Board of Aspo Plc’s shareholders consists of the representatives of the four largest shareholders. The following representatives of the largest shareholders were members of the Nomination Board which prepared proposals for the Annual Shareholders' Meeting 2023: Roberto Lencioni, Chairman (Vehmas family, including AEV Capital Holding Oy); Gustav Nyberg (Nyberg family, including Oy Havsudden Ab); Pekka Pajamo, (Varma Mutual Pension Insurance Company); and Annika Ekman (Ilmarinen Mutual Pension Insurance Company). In addition, Heikki Westerlund, Chairman of Aspo Board of Directors, has acted as an expert member of the Nomination Board. The Nomination Board also announced that Aspo’s long-term Board member and Chairman of the Audit Committee Mammu Kaario steps down from the Board after the current term. Reported Earnings • Nov 07
Third quarter 2022 earnings released: EPS: €0.31 (vs €0.26 in 3Q 2021) Third quarter 2022 results: EPS: €0.31 (up from €0.26 in 3Q 2021). Revenue: €157.8m (up 9.1% from 3Q 2021). Net income: €9.60m (up 12% from 3Q 2021). Profit margin: 6.1% (up from 5.9% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.1% p.a. on average during the next 3 years, while revenues in the Industrials industry in Europe are expected to grow by 4.5%. Announcement • Nov 02
Signal Partners Oy acquired Kauko Oy from Aspo Oyj (HLSE:ASPO). Signal Partners Oy acquired Kauko Oy from Aspo Oyj (HLSE:ASPO) on November 1, 2022. The divestment will generate an expense of approximately €1 million including the sales loss and transaction costs. In 2021, Kauko had 22 employees and its net sales amounted to approximately €13 million.Signal Partners Oy completed the acquisition of Kauko Oy from Aspo Oyj (HLSE:ASPO) on November 1, 2022. Announcement • Oct 26
Miska Kuusela Appointed as A Member of the Group Executive Committee of Aspo Group M.Sc. (Tech.) Miska Kuusela (b. 1969) has been appointed as a member of the Group Executive Committee of Aspo Group. Kuusela will start in his position on January 2, 2023. Miska Kuusela joins from Myllyn Paras Finland, where he held the position of the CEO. Kuusela has extensive experience in leadership positions in the food industry, and he has previously been the CEO of Dava Foods Finland and Helsingin Mylly, among other roles. Announcement • Oct 17
Aspo Upgrades Earnings Guidance for Full Year 2022 Aspo Oyj upgraded earnings guidance for the full year 2022. For the period, Company announces Comparable operating profit will be EUR 52 million to EUR 57 million (EUR 42.4 million). Announcement • Oct 12
Aspo Oyj Announces Executive Appointments Aspo Oyj Announced that the four largest shareholders of Aspo Plc have nominated the following members to Aspo's Shareholders' Nomination Board: •Roberto Lencioni, Vehmas family including AEV Capital Holding Oy •Gustav Nyberg, Nyberg family including Oy Havsudden Ab •Pekka Pajamo, Varma Mutual Pension Insurance Company •Annika Ekman, Ilmarinen Mutual Pension Insurance Company. The Nomination Board elected Roberto Lencioni as the Chairman in its organizing meeting. In addition, Heikki Westerlund, Chairman of Aspo Board of Directors, acts as an expert member of the Nomination Board. Announcement • Aug 24
Aspo Group Announces Executive Committee Changes Keijo Keränen, Group Treasurer and a member of Aspo Group Executive Committee, will leave the company to pursue new challenges outside the company. Keränen will continue in his current position until the beginning of November. During the transition period, the treasury responsibilities will be transferred to CFO Arto Meitsalo, sustainability development to Mikko Heikkilä, VP Corporate Development, and Communications & IR function to CEO Rolf Jansson. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: €0.35 (vs €0.24 in 2Q 2021) Second quarter 2022 results: EPS: €0.35 (up from €0.24 in 2Q 2021). Revenue: €161.7m (up 13% from 2Q 2021). Net income: €10.9m (up 40% from 2Q 2021). Profit margin: 6.7% (up from 5.5% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 9.9% compared to a 6.5% growth forecast for the industry in Germany. Announcement • Jun 15
Aspo Plc Upgrades Earnings Guidance for the Fiscal Year 2022 Aspo Plc upgrades earnings guidance for the fiscal year 2022. For the period, the company expects comparable operating profit will improve from previous year (EUR 42.4 million). Announcement • Apr 06
Aspo Oyj Provides Financial Guidance for 2022 Aspo Oyj provided financial guidance for 2022. Comparable operating profit will be EUR 27million – EUR 34 million (EUR 42.4 million) in 2022. Announcement • Mar 04
Aspo Plc Withdraws Financial Guidance for 2022 Aspo Plc withdrawer its financial guidance for 2022. Due to the uncertainty caused by Russia's military action and the resulting sanctions, the company estimates that it is not yet possible to make reasonable estimates and provide financial guidance based on them. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €7.20, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 18x in the Industrials industry in Europe. Reported Earnings • Feb 17
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €0.85 (up from €0.39 in FY 2020). Revenue: €573.3m (up 14% from FY 2020). Net income: €28.3m (up 136% from FY 2020). Profit margin: 4.9% (up from 2.4% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 6.5%, compared to a 8.5% growth forecast for the industry in Germany. Announcement • Feb 16
Aspo Oyj Proposes Dividends for the 2021, Payable on April 19, 2022; Announces Second Dividend Distribution, Payable on November 2022 The board of directors proposes to the Annual Shareholders’ Meeting of Aspo Plc to be held on April 6, 2022, that EUR 0.23 (2021: 0.35) per share be distributed in dividends for the 2021 financial year. The dividend of EUR 0.23 per share will be paid to shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd. on the record date of April 8, 2022. The board of directors proposes that the dividend be paid on April 19, 2022. The Board of Directors will decide at its meeting to be held on November 2, 2022, about the second dividend distribution in the maximum amount of EUR 0.22 per share, which would be paid in November 2022 to shareholders who are registered in the shareholders’ register maintained by Euroclear Finland Ltd. on the record date. 
