en.Wedoany.com Reported - Finnish industrial group Aspo has approved a partial spin-off plan to separate its shipping subsidiary ESL Shipping into an independent listed company, while the company released its first-half financial results. Under the proposal approved by the board on August 3, shareholders will receive one share in ESL Shipping Group for each Aspo share held, and Aspo will be renamed Telko Group upon completion of the spin-off. The plan still requires approval at an extraordinary general meeting scheduled for December 7, with the spin-off expected to be completed on December 31, and trading in ESL Shipping Group shares planned to commence around January 4, 2027. Aspo stated that selling ESL Shipping remains an alternative option if an assessment determines that a sale would better maximize shareholder value.

On the shipping business front, ESL Shipping continues to advance its fleet renewal program, having begun construction of its first methanol-powered Handysize vessel on June 1. The company expects all 12 new plug-in hybrid vessels to enter commercial operation by the end of 2026.

Financial data shows that ESL Shipping's comparable EBITA for the second quarter was EUR 3.8 million (USD 4.4 million), down from EUR 5.0 million in the same period of 2025, primarily due to technical fleet maintenance and weak contract shipping demand from the steel industry. At the group level, Aspo achieved comparable EBITA of EUR 17.9 million (USD 20.6 million) from continuing operations in the first half of 2026, up from EUR 14.8 million in the same period of 2025; second-quarter comparable EBITA was EUR 10.8 million, with the operating margin improving to 8.2% from 6% a year earlier.

Looking ahead to the full year, Aspo expects comparable EBITA from continuing operations to exceed the EUR 29.4 million recorded in 2025, driven by a gradual recovery in core markets and planned operational efficiency improvements, although geopolitical and supply chain challenges remain sources of uncertainty.