Aspo's Capital Markets Day: Aspo updates its financial targets and keeps its guidance unchanged
(Thomson Reuters ONE) -
ASPO Plc STOCK EXCHANGE RELEASE November 27, 2013 at 8:45
As announced previously, Aspo will arrange a Capital Markets Day in Vantaa
today, November 27, 2013, starting at 9 a.m. At the event, Aspo's management
will introduce the company's strategy and the development stages of its
different businesses. In addition, the subsidiary management will introduce the
strategy and position of each business in different market areas. Presentation
material in Finnish will be available today at 9 a.m. on the company's website
at www.aspo.fi.
Summary:
Aspo will update its financial targets. The company is seeking an operating
profit level which is closer to 10% than 5%, ROE which is over 20% on average
and net gearing of up to 100%. Previous financial targets: The company is
seeking an operating profit level which is closer to 10% than 5%, ROE and ROI
which are over 20% on average, and will distribute an annual dividend which is,
on average, at least half of the annual profit.
Aspo is keeping its dividend division policy unchanged. Aspo will distribute an
annual dividend which is, on average, at least half of the annual profit.
The guidance for 2013 issued in the interim report for January to September will
remain unchanged. Aspo aims to increase its operating profit and to achieve the
previous year's level in net sales.
The strategy of Aspo Group remains unchanged. The key factors of the strategy
are diversity, operating in the eastern growth markets and the ability to
implement structural changes.
At the event, Aspo's management will introduce the benefits of being a
conglomerate, the role of different businesses in Aspo Group, the structural
changes implemented by the group in recent years, and the value to the owners
the changes have created.
Aspo's businesses are at different stages of development. Leipurin and Telko
have grown profitably and strengthened their positions, especially in the
eastern growth markets. ESL Shipping has an established position as a
transporter of dry bulk cargo. Kaukomarkkinat, which is in the initial stages of
development, invests in business based on energy-efficient property technology.
In a separate stock exchange release today, Aspo has announced that it is
reviewing the preconditions for listing Leipurin on the Helsinki stock exchange.
ASPO Plc
Aki Ojanen
CEO
Further information:
Aki Ojanen, Managing Director, Aspo Plc, phone +358 9 5211 or +358 400 106 592
aki.ojanen(at)aspo.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.aspo.com
Aspo is a conglomerate that owns and develops business operations in the
Northern Europe and growth markets focusing on demanding B-to-B customers. Our
strong company brands - ESL Shipping, Leipurin, Telko and Kaukomarkkinat - aim
to be the market leaders in their sectors. They are responsible for their own
operations, customer relationships, and the development of these. Together they
generate Aspo's goodwill. Aspo's Group structure and business operations are
continually developed without any predefined schedules.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aspo Oyj via GlobeNewswire
[HUG#1745988]
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"Aspo's Capital Markets Day: Aspo updates its financial targets and keeps its guidance unchanged"
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