Net sales and clean EBIT were below market consensus (LSEG) in Q4 but ESL Shipping segment were slightly above consensus in Q4. Last year was a weak year for Aspo and Q1 2024 could still be seasonally weak due to tough winter conditions and strikes. However, full year 2024 guidance of over 30m adjusted EBIT could lead market consensus to be upgraded by 3-6% we believe. Dividend proposal of EUR 0.47 was in line with consensus. Aspo has now sold 21.4% of its in ESL Shipping segment and the company has a CMD event on May 14 where it will highlight the growth strategy.
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