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Aspo: Strong Q2 shipping market - Nordea

Third party research 05.08.2021 12:32 Aspo

A very good demand environment has led Aspo to upgrade its 2021 EBIT guidance to EUR 30-36m, the midpoint being 6.5% above market (Refinitiv) consensus. The company's EPS declined in 2018-20, but the tone has clearly changed and Aspo is fulfilling its earnings capability for the first time since the [email protected] acquisition. We upgrade our 2021 EBIT forecast by 9%, putting our estimate (EUR 35m) close to the upper end of the guidance. Based on our new estimates, we calculate a fair value range of EUR 9.7-12.0 (9.0-11.2) per share. 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.