Aspo
Industrial conglomerate managing shipping and chemicals distribution.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | €30.0m | Post IPO Debt | |
| Total Funding | 000k | ||
| EUR | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 14 % | 12 % | (17 %) | 10 % | 7 % | 5 % | 3 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 13 % | 11 % | 11 % | 10 % | 10 % | 11 % | 12 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 4 % | 3 % | - | 1 % | 3 % | 4 % | 4 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Equity research estimates
Aspo Plc is a Finnish conglomerate, founded in 1929, that owns and develops businesses in the industrial sector. The company is structured around two main segments following a strategic decision to form Aspo Infra and Aspo Compounder. Its head office is located in Espoo, Finland.
Aspo's primary operations include ESL Shipping and Telko. ESL Shipping is the leading carrier of dry bulk cargo in the Baltic Sea region, providing year-round raw material transportation for industries. Its services are crucial for energy production and heavy industry, with a focus on long-term customer contracts and a fleet designed for demanding ice conditions. The shipping division is undergoing a green transition, with significant investments in fossil-free vessels.
Telko is a major distributor of plastic raw materials, industrial chemicals, and lubricants, operating in Europe and parts of Asia. It serves as a partner in the value chain, connecting international principals with industrial customers and providing technical support and efficient logistics. Telko has been expanding its footprint in Europe through strategic acquisitions.
Previously, Aspo also operated Leipurin, a supplier of raw materials and expertise for bakeries and the food industry. However, in August 2025, Aspo signed an agreement to divest the Leipurin business to Lantmännen for an enterprise value of EUR 63 million, a move expected to be finalized in the first quarter of 2026. This divestiture is part of Aspo's strategy to streamline its portfolio, strengthen its balance sheet, and focus on the growth of its core Telko and ESL Shipping businesses.
The company's business model is centered on long-term ownership and sustainable development of its businesses, aiming for market leadership in their respective sectors. Revenue is generated through the distinct operations of its subsidiaries. For the first half of 2025, Aspo reported net sales of EUR 314.0 million.
Keywords: industrial conglomerate, dry bulk shipping, chemicals distribution, logistics, raw material transport, Baltic Sea shipping, plastic raw materials, industrial lubricants, sustainable shipping, corporate acquisitions, value creation, business-to-business services, Nordic industry, heavy industry logistics, green transition, maritime logistics, asset management, supply chain solutions, divestiture, portfolio management
Investments by Aspo
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