Aspo Plc
Stock Exchange Release
Other information disclosed according to the rules of the Exchange
May 14, 2024, at 8:05 a.m.
Aspo's financial targets and dividend policy updated, and profitability metric
of the guidance changed
Aspo holds a Capital Markets Day today, May 14, 2024, starting at 9.30 a.m.
((EEST)) in Helsinki. Aspo Group's new portfolio vision, disclosed earlier
today, along with the adjusted long-term financial targets, ESG commitment,
business strategies, dividend policy as well as current state of Aspo's business
operations and prospects will be presented at the event.
Revised financial targets
Aspo's long-term financial targets remain fundamentally unchanged, but they have
been slightly adjusted to consider the compounder strategy and management of
growth financing. Key changes include change from operating profit (EBIT) to
operating profit excluding amortization of intangible assets (EBITA) to mitigate
the impact of amortization in M&A transactions, which will gradually build-up
due to the compounder strategy, as well as replacing the gearing target with a
target for Net debt / comparable EBITDA of below 3.0, to manage the growth
financing in relation to development of financial performance.
Aspo's adjusted long-term financial targets are:

  * EBITA of 8% (New: operating profit excluding amortization of intangible
    assets (EBITA), previously operating profit (EBIT))
      * Telko 8%
      * Leipurin 5%
      * ESL 14%
  * Net sales growth 5-10% per year (New: defined as the minimum annual growth
    level to be achieved)
  * Return on equity over 20%
  * New: Net debt / comparable EBITDA below 3.0 (previously: Gearing less
    than 130%)

Updated dividend policy
To support the growth strategy execution, Aspo's dividend policy has been
updated to reflect company strategy and growth ambition, the ongoing transition
and specific business characteristics. Aspo's revised dividend policy:
* Aspo's dividend growth is based on positive profitability development with
the aim to pay-out annually up to 50% of net profit as dividend. The goal is

    to gradually increase the amount of dividends, while considering financing
    needs of growth initiatives with strategic priority.

Profitability metric of the guidance changed from EBIT to EBITA, assumptions
behind the guidance for year 2024 remain unchanged
Assumptions behind the guidance for year 2024 remain unchanged. The guidance for
year 2024 has been changed to the new profitability metric operating profit
excluding amortization of intangible assets (EBITA) (previously operating profit
(EBIT)). New guidance for 2024 is:
Aspo Group's comparable EBITA is expected to exceed EUR 32 million in 2024
(2023: EUR 27.9 million)
For reference, Aspo Group's previous guidance for 2024 with the old
profitability metric operating profit was:
Aspo Group's comparable operating profit is expected to exceed EUR 30 million in
2024 (2023: EUR 26.5 million).
Capital Markets Day webcast and presentation materials
The webcast can be followed live on Aspo's website (www.aspo.com
(https://www.globenewswire.com/Tracker?data=AHzxp5FaznCI4IxbcCcHSBZjK8OqEho09Jjq
SDzEVP9nTLY-e8SFz2049RMtQK4KcUF-JeuzKEoE4Po8vzb7JA==)) from 9.30 a.m. today.
Webcast recording and presentation materials (in English) will be available on
the website after the event.
"We are delighted to continue to execute clear and successful business
strategies for all three segments. ESL Shipping is focused on sustainability-
driven growth, combined with commercial and operational excellence. Telko's
strategy is focused on organic growth supported by M&A and scalability. Leipurin
continues its path to full profit potential through prioritised growth
initiatives and development of commercial, supply chain and sourcing
capabilities. We are also keen for sustainability to continue to shape our
business strategies. Aspo Group's ambition is that Aspo and its businesses will
commit to Science Based Targets by the end of 2024. Each of Aspo's businesses
aim to be a sustainability forerunner in its industry", says Rolf Jansson, CEO
of Aspo Group.
ASPO Plc
Rolf Jansson
CEO
Further information:
Rolf Jansson, CEO, tel. +358 400 600 264, rolf.jansson@aspo.com
Erkka Repo, CFO, tel. +358 405 827 971, erkka.repo@aspo.com
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