Aspo Group financial statements release, January 1

A year of successful strategy execution

This is a summary of the financial statements release of Aspo Plc. The compete report is attached to this release and available at www.aspo.com/en/news/news.

Figures from the corresponding period in 2023 are presented in brackets.

October–December 2024

• Net sales from continuing operations increased to EUR 159.8 (132.2) million

• Comparable EBITA from continuing operations grew to EUR 8.0 (7.2) million, 5.0% (5.5%) of net sales. The comparable EBITA of ESL Shipping was EUR 4.3 (5.0) million, Telko EUR 3.9 (2.6) million, and Leipurin EUR 1.1 (0.9) million

• EBITA from continuing operations was EUR 8.1 (6.8) million. EBITA of ESL Shipping was EUR 4.4 (4.4) million, Telko EUR 3.9 (2.6) million, and Leipurin EUR 1.1 (1.0) million

• Comparable ROE from continuing operations was 13.0% (9.9%)

• Comparable earnings per share from continuing operations were EUR 0.15 (0.10)

• Free cash flow was EUR -18.7 (0.3) million driven by investments

• On October 9, 2024, Aspo announced that ESL Shipping invests in four green handy vessels with a total value of approximately EUR 186 million. This investment takes place during the years 2024–2028

• Aspo made a commitment to Science Based Targets initiative (SBTi)

• On December 2, 2024, Aspo’s subsidiary Leipurin reached an agreement with Kartagena UAB to take over their food ingredients distribution business in Lithuania

January–December 2024

• Net sales from continuing operations increased to EUR 592.6 (536.4) million

• Comparable EBITA from continuing operations grew to EUR 29.1 (27.5) million, 4.9% (5.1%) of net sales. The comparable EBITA of ESL Shipping was EUR 16.9 (18.4) million, Telko EUR 12.6 (9.7) million, and Leipurin EUR 4.9 (4.5) million

• EBITA from continuing operations was EUR 21.2 (27.2) million. EBITA of ESL Shipping was EUR 9.2 (17.8) million, Telko EUR 12.5 (8.7) million, and Leipurin EUR 4.5 (5.9) million

• Comparable ROE from continuing operations was 9.2% (11.9%)

• Comparable earnings per share from continuing operations were EUR 0.39 (0.46)

• Free cash flow was EUR -36.1 (27.3) million driven by acquisitions and investments

• Net debt to comparable EBITDA, rolling 12 months ratio was 3.2 (2.7)

• Successful strategy execution including sale of a minority stake in ESL Shipping, sale of the supramax vessels, Telko’s expansion through acquisitions in Sweden and into new markets in France, Benelux and Germany, as well as Leipurin’s non-organic growth and successful transformation and ESL Shipping’s decision to invest in four green handy vessels

• Aspo’s vision is to split the company into two separate companies, i.e. Aspo Compounder (Telko and Leipurin) and Aspo Infra (ESL Shipping), before Aspo turns 100 years in 2029

• The Board proposes a dividend of EUR 0.19 per share for the financial year 2024