Aspo Oyj — Earnings Release 2019

Aug 1, 2019

Aspo lowers its guidance for 2019

Aspo lowers its guidance for 2019

ASPO Plc  

Stock Exchange Release    

August 1, 2019 at 1 p.m.

Aspo lowers its guidance for 2019Based on the preliminary unaudited results of Q2 2019 and the business performance in July, Aspo Plc lowers its guidance for full year 2019.

Aspo’s operating profit for Q2 2019 will be lower than in the comparative period in 2018. The main reason for the soft Q2 operating profit has been the significantly weaker result in ESL Shipping where the Supramax vessels operated at a loss. Furthermore, the shipping volumes of main customers decreased substantially which weakened the operational efficiency during the summer months.   

New guidance

Aspo's operating profit will be EUR 24–30 (20.6) million in 2019

Previous guidance

Aspo's operating profit will be EUR 28–33 (20.6) million in 2019

Aspo will publish its Half Year Report for January-June 2019 on Wednesday, August 14, 2019, at approximately 10 a.m. Finnish time

ASPO PLC

Aki Ojanen

CEO

For further information, please contact:

Aki Ojanen, CEO, Aspo Plc, +358 400 106 592, aki.ojanen@aspo.com

Distribution:  

Nasdaq Helsinki

Key media

www.aspo.com

Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets, focusing on demanding B2B customers. The aim of our strong corporate brands – ESL Shipping, Leipurin, Telko and Kauko – is to be the market leaders in their sectors. They are responsible for their own operations, customer relationships, and their development. Together they generate Aspo’s goodwill.