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Aspo: Sales growth set as a focus area - Nordea

Third party research 02.12.2021 8:49 Aspo

At its CMD event on 1 December, Aspo kept its 2021 EBIT guidance unchanged but upgraded its long-term EBIT margin guidance to 8% (6% previously). A sales growth target, which has been missing from guidance, was also introduced at 5-10%. Small acquisitions will be used to support revenue growth in Telko. Aspo is also seeking a new business segment that can offer an organic growth platform in the long term. Based on our estimates, we calculate a fair value range of EUR 11.2-13.8 per share based on equally weighted DCF, P/E and SOTP valuations. Marketing material commissioned by Aspo.

Source: Finwire News.

Aspo is a conglomerate that specializes in demanding B-to-B customers. It owns and develops its businesses in Northern Europe and in selected growing markets. Aspo's wholly owned subsidiaries ESL Shipping, Leipurin, Telko and Kauko operate under their own strong brands and provide value for their customers. The objective of the trade and logistics businesses is to be the market leaders in their sectors. Aspo's value is produced by the entity formed by its businesses.