Aspo - Q3 EBIT clearly above expectations
Aspo’s Q3 EBIT meaningfully topped expectations as Telko continued to perform strong.
- Aspo Q3 revenue was EUR 118.4m vs the EUR 117.7m/122.3m Evli/consensus estimates.
- Aspo Q3 EBIT stood at EUR 3.6m, compared to the EUR 1.7m/1.1m Evli/consensus estimates. The expectations implied quite steep q/q EBIT drop for Q3, and now we see the overall H2 development will be rather flat.
- ESL Q3 top line amounted to EUR 31.6m, compared to our EUR 33.8m estimate. EBIT was EUR -0.1m while we expected EUR -0.2m.
- Telko revenue was EUR 62.5m vs our EUR 56.8m estimate. Meanwhile EBIT amounted to EUR 4.2m vs our 2.3m estimate. The continued strong performance (of which a lot are due to internal measures) looks promising, however there are still many macro uncertainties.
- Leipurin posted EUR 24.3m in Q3 revenue, while we expected EUR 27.2m. EBIT was EUR 0.3m, compared to our EUR 0.7m estimate.
- Other operations cost EUR 0.8m vs our EUR 1.1m estimate.
- Aspo specifies guidance to the new range of EUR 14-16m for FY ’20, compared to the earlier EUR 12-16m range.