Company Overview
Aspo is a Finnish conglomerate with a diverse range of businesses operating in various sectors, including energy, transportation, and consumer goods. With a strong presence in the Nordic region, Aspo has established itself as a reliable partner for companies seeking to expand their operations in the region.
The company's primary mission is to create long-term value for its shareholders by delivering sustainable growth and profitability through its various business segments. Aspo's core values include a commitment to safety, quality, and customer satisfaction, as well as a focus on innovation and continuous improvement.
Key Products/Services
Aspo's key products and services include:
- Energy solutions: Aspo offers a range of energy-related products and services, including renewable energy systems and energy-efficient solutions.
- Transportation services: The company provides transportation services for various industries, including oil and gas, mining, and construction.
- Consumer goods: Aspo's consumer goods segment includes brands such as Leipurin, ESL Shipping, and Telko, offering a range of products from household goods to industrial equipment.
The benefits of Aspo's products and services include improved efficiency, reduced costs, and increased competitiveness in the market. By leveraging Aspo's expertise and resources, customers can gain access to innovative solutions and improve their overall performance.
Outlook and Opportunities
Aspo's outlook for the future is positive, with a focus on sustainable growth and profitability. The company is well-positioned to capitalize on emerging trends in the energy and transportation sectors, including the increasing demand for renewable energy solutions.
Opportunities for Aspo include expanding its presence in new markets, investing in research and development, and improving operational efficiency. By leveraging its diverse range of businesses and expertise, Aspo can create long-term value for its shareholders and stakeholders.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 31.4 | 31.4 | 31.4 | 31.4 | 31.4 | 31.4 | 31.4 |
| Target Valuation (MEur) | 310.9 | 245.6 | 226.5 | 368.3 | 369.4 | 337.7 | 337.7 |
| Targer Price | 9.9 | 7.82 | 7.21 | 11.72 | 11.76 | 10.75 | 10.75 |
| Potential, % | 20.7 | 30.7 | 48.6 | 79.7 | 61.9 | 48.0 | 48.0 |
| Recommendation | Hold | Buy | Buy | Buy | Buy | Buy | Buy |
| MCAP (MEur) | 257.6 | 187.9 | 152.4 | 204.9 | 228.1 | 228.1 | 228.1 |
| Price | 8.2 | 5.98 | 4.85 | 6.52 | 7.26 | 7.26 | 7.26 |
| EV | 413.0 | 353.0 | 340.0 | 418.0 | 420.0 | 394.0 | 375.0 |
| P/S | 0.4 | 0.35 | 0.26 | 0.38 | 0.44 | 0.39 | 0.38 |
| EV/S | 0.64 | 0.66 | 0.57 | 0.77 | 0.8 | 0.67 | 0.62 |
| EV/EBIT | 12.19 | 13.69 | 18.3 | 11.63 | 13.2 | 13.7 | 16.11 |
| P/E | 11.87 | 12.04 | 20.87 | 8.03 | 7.85 | 9.91 | 12.26 |
| P/B | 1.79 | 1.34 | 0.94 | 1.43 | 1.26 | 1.12 | 1.02 |
| P/OCF | 3.81 | 3.95 | 4.7 | 4.19 | 12.0 | 3.01 | 3.25 |
| EV/OCF | 6.11 | 7.42 | 10.51 | 8.54 | 22.07 | 5.21 | 5.34 |
| P/FCF | 7.49 | 6.88 | -4.22 | 7.73 | 7.95 | 9.01 | 11.57 |
| EV/FCF | 12.02 | 12.93 | -9.43 | 15.76 | 14.61 | 15.58 | 18.99 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 643.4 | 536.4 | 592.6 | 541.4 | 524.2 | 586.8 | 601.9 |
| Rev. Growth, % | 12.2 | -16.6 | 10.5 | -8.6 | -3.2 | 11.9 | 2.6 |
| Ebit | 33.9 | 25.8 | 18.6 | 35.9 | 31.8 | 28.8 | 23.2 |
| Ebit Growth, % | -8.1 | -23.9 | -27.9 | 93.0 | -11.4 | -9.4 | -19.4 |
| Ebit, % | 5.3 | 4.8 | 3.1 | 6.6 | 6.1 | 4.9 | 3.9 |
| Profit | 21.7 | 15.6 | 7.3 | 25.5 | 29.1 | 23.0 | 18.6 |
| EPS | 0.69 | 0.5 | 0.23 | 0.81 | 0.93 | 0.73 | 0.59 |
| Profit Growth, % | -13.9 | -28.1 | -53.2 | 249.3 | 14.1 | -21.0 | -19.1 |
| Profit, % | 3.4 | 2.9 | 1.2 | 4.7 | 5.6 | 3.9 | 3.1 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 69.9 | 59.2 | 84.2 | 61.5 | 83.3 | 79.6 | 76.4 |
| Acc. Receivable | 69.3 | 74.1 | 89.5 | 63.3 | 77.9 | 86.8 | 89.4 |
| Cash | 21.7 | 30.7 | 36.4 | 44.0 | 16.2 | 41.5 | 61.2 |
| Equity | 143.7 | 140.5 | 161.3 | 143.5 | 181.1 | 204.1 | 222.7 |
| ROE, % | 15.1 | 11.1 | 4.5 | 17.8 | 16.1 | 11.3 | 8.4 |
| ROCE, % | 10.6 | 7.7 | 4.8 | 9.0 | 8.2 | 7.0 | 5.4 |
| Net Debt | 155.7 | 165.2 | 188.0 | 212.8 | 191.5 | 166.2 | 146.5 |
| Gearing, % | 108.4 | 117.6 | 116.6 | 148.3 | 105.8 | 81.4 | 65.8 |
| Equity ratio, % | 34.6 | 34.3 | 31.5 | 27.9 | 36.2 | 40.4 | 43.7 |
| Acc. Payable | 72.3 | 66.2 | 74.7 | 65.8 | 70.3 | 66.5 | 68.6 |
| Total Assets | 415.9 | 409.7 | 512.0 | 513.5 | 500.0 | 505.1 | 510.1 |
| ROA, % | 5.2 | 3.8 | 1.4 | 5.0 | 5.8 | 4.6 | 3.6 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 67.7 | 47.6 | 32.4 | 48.9 | 19.0 | 75.7 | 70.1 |
| Investment Cash Flow | -33.3 | -20.3 | -68.5 | -22.4 | 9.7 | -50.4 | -50.4 |
| Free Cash Flow | 34.4 | 27.3 | -36.1 | 26.5 | 28.7 | 25.3 | 19.7 |
| OCF/CAPEX | 2.03 | 2.34 | 0.47 | 2.18 | 0.0 | 1.5 | 1.39 |
| Financial Cash Flow | -16.5 | -32.3 | 42.5 | -18.8 | -56.8 | 0.0 | 0.0 |
Disclaimer
Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
The data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
Contact: quant@quantfactory.eu