Slide 1: Aspo Q1 2020
1 Q1 May 5, 2020 Aspo Q1 2020 May 5, 2020 CEO Aki Ojanen
Slide 2: Aspo Q1 2020
2 Q1 May 5, 2020 Aspo Q1 2020 Q1 2020 net sales decreased by 6% and were EUR 133.2 million Q1 2020 operating profit was Earnings per share were (141.5). EUR 4.0 million (4.9). EUR 0.07 (0.10). Net cash from operating activities continued to develop We expect the market situation Due to the rapidly c
Slide 3: Net sales by quarter
3 Q1 May 5, 2020 Net sales by quarter M€ 180 Q1 2020 net sales decreased 157 160 151 148 147 by 6% and were EUR 133.2 142 million (141.5). 140 133 136 133 120 115 100 80 60 Net sales of Telko and ESL 40 Shipping were weakened by 20 the collapsed price of oil and smaller transportation 0 2018 2019 20
Slide 4: Operating profit by quarter
4 Q1 May 5, 2020 Operating profit by quarter M€ 10 Q1 2020 operating profit was EUR 4.0 million (4.9). 8 7,4 *) 7,1 7,2 6,7 6 4,9 5,4 4,1 4,0 4 3,7 2 2,6 All in all, the Group’s operating profit for Q1 was satisfactory 0 given the unusually 2018 2019 2020 challenging market conditions. Q1 Q2 Q3 Q4 *
Slide 5: Long-term financial targets
Long-term financial targets 5 Q1 May 5, 2020 Operating profit rate (cum.) Return on equity (cum.) Gearing Target level 6% in 2023 Target level > 20% in 2023 Target level 130% in 2023 196 181 174 4,74,7 *) 162 159 4,4 155154 15,6 3,8 13,5 14,0 3,5 3,6 13,1 13,5 12,4 *) 119 3,2 3,1 3,6 11,7 3,0 103 8,
Slide 6: Net cash from operating activities
6 Q1 May 5, 2020 Net cash from operating activities M€ 60 Net cash from operating activities 52,5 was EUR 13.9 million (1.9). 50 40 Free cash flow was 33,6 EUR 13.3 million (-1.1) . 30 20,3 20 14,6 13,9 10 7,6 Net cash from operating 1,9 0 activities increased due to -1,2 -1,2 improved inventory -10
Slide 7: Aspo is a balanced entity
7 Q1 May 5, 2020 Aspo is a balanced entity Net sales by segment, Q1 2020 Net sales by market area, Q1 2020 Finland 46,5 M€ 13 % Scandinavia 20,7 M€ 32 % ESL Shipping 42,7 M€ 35 % 48 % Leipurin 26,9 M€ Baltic countries 11,5 M€ 28 % Telko 63,6 M€ Russia, other CIS countries and Ukraine 20 % 15 % 37,4
Slide 8: Russia, other CIS countries and Ukraine
8 Q1 May 5, 2020 Russia, other CIS countries and Ukraine M€ Net sales 50 47,5 46,2 45,6 46,0 Net sales in the eastern 45 44,5 42,8 markets remained 40 37,9 37,4 approximately flat at 35 EUR 37.4 million (37.9). 32,6 30 25 20 15 Continued sales growth for 10 Leipurin, Telko’s net sales in the eastern
Slide 9: ESL Shipping
9 Q1 May 5, 2020 ESL Shipping Leading marine logistics provider for bulk cargo
Slide 10: ESL Shipping
10 Q1 May 5, 2020 ESL Shipping Q1 2020 net sales were EUR 42.7 million (43.7). Q1 2020 operating profit weakened to EUR 2.3 million (3.2). Restrictions related to the coronavirus pandemic increased uncertainty by lowering the demand and market prices. General operating environment weakened significa
Slide 11: ESL Shipping key figures
11 Q1 May 5, 2020 ESL Shipping key figures M€ Net sales 50 46,4 45,3 45 43,7 42,6 43,4 42,7 Q1 2020 net sales were 40 EUR 42.7 million (43.7). 35 30,6 30 25 22,6 20,5 20 15 Some customers have already announced production 10 restrictions, which will have a 5 significant negative impact on 0 estimate
Slide 12: ESL Shipping key figures
12 Q1 May 5, 2020 ESL Shipping key figures M€ Operating profit 5,0 Q1 2020 operating profit 4,4 4,4 4,5 4,3 weakened to 4,0 4,2 EUR 2.3 million (3.2). 4,0 3,5 3,2 3,0 2,6 2,6 2,5 2,3 2,0 1,5 1,0 0,5 Operating profit rate was 5.4% (7.3). 0,0 2018 2019 2020 Q1 Q2 Q3 Q4
Slide 13: Baltic Dry Index
13 Q1 May 5, 2020 Baltic Dry Index
Slide 14: Leipurin
14 Q1 May 5, 2020 Leipurin From bread and recipes to a comprehensive selection
Slide 15: Leipurin
15 Q1 May 5, 2020 Leipurin Operating profit increased in Q1 and was Q1 2020 net sales were EUR 26.9 million (25.9). EUR 0.6 million (0.5). Operating profit rate in Q1 was 2.2% (1.9). The pandemic had a very rapid and strong Leipurin maintained its good operating impact on Leipurin’s customers, altho
Slide 16: Leipurin key figures
16 Q1 May 5, 2020 Leipurin key figures M€ Net sales 35 31,2 31,6 31,9 30,2 29,9 Q1 2020 net sales were 30 28,0 28,0 26,9 EUR 26.9 million (25.9). 25,9 25 20 15 10 5 Net sales growth in both bakery and machinery business. 0 2018 2019 2020 Q1 Q2 Q3 Q4
Slide 17: Leipurin key figures
17 Q1 May 5, 2020 Leipurin key figures M€ Operating profit 1,2 Operating profit increased in 1,1 Q1 and was EUR 0.6 million 1 (0.5). 0,9 0,8 0,8 0,8 0,8 0,8 Operating profit rate in Q1 0,6 0,6 was 2.2% (1.9). 0,6 0,5 0,4 0,2 Operating profit growth slowed 0 down by weakened sales mix. 2018 2019 2020
Slide 18: Net sales in Russia, other CIS countries and Ukraine
Net sales in Russia, other CIS countries 18 Q1 May 5, 2020 and Ukraine M€ Net sales in the market area MRUB Net sales of the Russian company 14,0 800 693 11,8 700 665 12,0 11,1 600 559 10,0 9,5 535 9,0 514 8,6 8,3 8,6 478 481 475 489 8,2 500 8,0 7,7 400 6,0 300 4,0 200 2,0 100 0,0 0 2018 2019 2020 2
Slide 19: Telko
19 Q1 May 5, 2020 Telko Raw material solutions for the industry
Slide 20: Telko
20 Q1 May 5, 2020 Telko Net sales of Telko segment in Q1 decreased Operating profit of Telko segment in Q1 and were EUR 63.6 million (71.9). was EUR 2.4 million (2.4). Sales volume in Telko business decreased by 19% year-on-year. The exceptional conditions and the collapsed price of oil reduced the
Slide 21: Telko key figures
21 Q1 May 5, 2020 Telko key figures M€ Net sales 90 80,6 Net sales of Telko segment in 80 74,7 71,7 71,9 Q1 decreased and were 70 67,3 69,5 69,8 *) EUR 63.6 million (71.9). 63,6 60 57,7 50 40 30 The sales volume is expected 20 to decrease towards the end of the year, and the decline is 10 expected t
Slide 22: Telko key figures
22 Q1 May 5, 2020 Telko key figures M€ Operating profit Operating profit of Telko 4,0 segment in Q1 3,6 3,4 3,5 was EUR 2.4 million (2.4). 3,0 2,9 2,5 2,4 2,4 2,4 2,3 2,2 2,0 Operating profit of Telko 1,5 business in Q1 was EUR 2.5 million (2.3). 1,0 0,9 0,5 Kauko’s Q1 2020 net sales were 0,0 EUR 4.
Slide 23: Net sales in Russia, other CIS countries and Ukraine
Net sales in Russia, other CIS countries and 23 Q1 May 5, 2020 Ukraine M€ Net sales in the market area MRUB Net sales of the Russian company 40,0 1400 36,5 1258 35,3 34,8 35,5 34,4 1195 1211 35,0 1200 1149 31,6 1131 29,2 30,0 1004 974 26,9 1000 868 25,0 24,0 794 800 20,0 600 15,0 400 10,0 5,0 200 0,
Slide 24: Equity ratio and gearing
Q1 May 5, 2020 Equity ratio and gearing % 40 250 Gearing continued to 35 decrease due to strong net 200 30 cash from operating activities and lower 25 investments. 150 20 100 15 10 50 Equity ratio remained at 5 the year-end’s level and was 29.9% 0 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1
Slide 25: Debt profile and maturities
Q1 May 5, 2020 Debt profile and maturities Interest bearing liabilities Maturity of loan agreements (MEUR) without lease liabilities (MEUR) 100 26 2 90 4 80 18 70 144 60 50 Loans Commercial papers Tyel pension loan 40 Bond Others 30 20 Liquidity position (MEUR) 10 0 27 40 2020 2021 2022 2023 2024+ H
Slide 26: Hybrid loan restructuring
Q1 May 5, 2020 Hybrid loan restructuring • On April 30, 2020, , Aspo issued a new hybrid bond of EUR 20 million with a fixed interest rate of 8.75 percent. The hybrid bond does not have a specified maturity date, but the company is entitled to redeem it for the first time on May 2, 2022. • At the sa
Slide 27: Decisions of the Aspo Annual Shareholders’ Meeting
Q1 May 5, 2020 Decisions of the Aspo Annual Shareholders’ Meeting • The Annual Shareholders' Meeting of Aspo Plc held on May 4, 2020, approved the company's and consolidated financial statements 2019 and discharged the members of the Board of Directors and the CEO from the liability. • The sharehold
Slide 28: Additional material
28 Q1 May 5, 2020 Additional material
Slide 29: Shareholders / allocation
29 Q1 May 5, 2020 Shareholders / allocation Number of shareholders Distribution of ownership on March 31, 2020 by ownership group, % 11 000 4% 1% 10 538 10 500 10 260 19 % Institutions 10 000 Group Executive 9 502 0% Committee 9 500 Board of Directors 9 236 9 060 Private investors 9 000 54 % 22 % No