Inside information: Aspo provides update on its strategic progress: alternatives include partial demerger or divestment of ESL Shipping

Aspo Plc Inside information 3 November 2025 at 9.05 am EET

Inside information: Aspo provides update on its strategic progress: alternatives include partial demerger or divestment of ESL Shipping

The Board of Directors of Aspo has decided to continue the implementation of Aspo’s strategy by evaluating the strategic alternatives for the company’s businesses, ESL Shipping and Telko. The main strategic alternatives to be reviewed include a possible partial demerger of Aspo or a divestment of ESL Shipping.

”Our goal is to implement the divestment of ESL Shipping or the partial demerger of Aspo by the end of 2026, considering market conditions. Finding the best solution for ESL Shipping and for Telko, in terms of value creation and the development of the businesses, is essential for us. Both companies have ambitious plans for growth. We will now evaluate whether these growth plans could be more efficiently promoted in separate companies. With the change, we want to maximize shareholder value,” says Rolf Jansson, CEO of Aspo.

In all strategic alternatives, Aspo’s goal is to ensure good possibilities for Telko to continue acquisitions and growth. Telko has already successfully completed significant acquisitions and strengthened its market position in Western Europe and in value-creating products and services. After the Leipurin divestment, as announced earlier, Telko is well-positioned to continue acquisitions. ESL Shipping has made significant investments to modernize its fleet, including investments in electric hybrid vessels (Coasters) and in handy-sized vessels, allowing fossil-free operations. For ESL Shipping, Aspo continues to have two strong alternatives: partial demerger of Aspo or divesting the business.

Webcast 3.11.2025 and additional information

Aspo’s management will present the topic in the news conference today, 3 November 2025 at 12.00 p.m., in conjunction with the Q3 2025 results presentation. The event can be viewed live at and participants can also send questions to the management. Recording of the event will be available on the company’s website.

Aspo will provide additional information during the process. In the event that the Board opts to recommend the partial demerger to separate ESL Shipping from the Aspo Plc, the proposal would be subject to approval from the Annual General Meeting of Aspo Plc. 

ESL Shipping is the leading dry bulk cargo company in the Baltic Sea region. In 2024, the net sales of ESL Shipping was EUR 206.2 million and comparable EBITA EUR 16.9 million. Telko is the leading distributor and solutions supplier of plastics, industrial chemicals and lubricants. In 2024, the net sales of Telko was EUR 253.3 million and comparable EBITA EUR 12.6 million. The businesses have the following financial ambition for year 2028. ESL Shipping: over EUR 300 million net sales, comparable EBITA 14% and Telko: over EUR 500 million net sales, comparable EBITA 8%.

Aspo Plc

Board of Directors

Distribution:

Nasdaq Helsinki

Key media

For additional information, please contact: 

Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264,  

^{Aspo creates value by owning and developing business operations sustainably and in the long term. Aspo’s businesses – ESL Shipping, Telko and Leipurin – enable future-proof, sustainable choices for customers in various industries. Established in 1929, today we are together about 800 experts on land and at sea. While the Nordic region is our core market, we serve our customers with world-class solutions in 18 countries around Europe and parts of Asia.}

^{Aspo is listed on Nasdaq Helsinki and is headquartered in Finland.}

^{Aspo – Sustainable value creation}