Q2 2024 Aspo Oyj Earnings Call Transcript
Key Points
- Aspo PLC (FRA:ZYD) reported a strong growth in net sales by 16%, indicating a return to a growth track after previous quarters of stagnation.
- The company successfully executed its strategy by selling two supramax vessels and introducing two green coasters in the Baltic Sea, enhancing its sustainability efforts.
- Aspo PLC (FRA:ZYD) improved its cash flow and strengthened its balance sheet, demonstrating good liquidity and financial health.
- The company made strategic acquisitions in Germany and Sweden, strengthening its market position and expanding its business operations.
- ESL Shipping showed good contract volume demand and improved profitability, supported by favorable market conditions and strategic asset sales.
- Leipurin experienced a 6% decline in sales, impacted by market deflation and strategic shifts away from low-margin products.
- The company faced a flat profitability development in the first half of 2024, with external factors like strikes and weather conditions negatively impacting results by EUR4.2 million.
- Aspo PLC (FRA:ZYD) incurred EUR2.5 million in M&A costs, affecting its comparable EBITDA.
- Telko's market demand remained weak, although the company managed to gain market share, indicating challenges in the broader market environment.
- The sale of supramax vessels resulted in a loss of EUR7.2 million, highlighting the financial impact of strategic asset divestments.
Welcome to the Q2 reporting of Aspo 2024. If we look at the header, our successful strategy execution and improved profitability, I think that's a good summary of our Q2 performance. Strong growth in net sales, 16%, a comparable EBITDA of EUR7.4 million as strengthening cash flow, actually also the balance sheet developing in a good direction, good liquidity and even sustainability, very good development.
And on top of that, good development, when it comes to strategy execution, we sold two supramax vessels. We have now two green coasters in traffic here in the Baltic Sea and build cost, made acquisitions entering into Germany, strengthen our position in Sweden and then also Leipurin has strengthened our position in Sweden via Kebelco.
Looking into sustainability and emissions, emissions were a lot lower in Q2 compared to Q1. The reason is that at market conditions, basically the ice conditions and then in addition, during Q2, we had good sales growth and hence the emission intensity is 0.35, a lot
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