Net sales was 2% above our expectation but adjusted EBITDA came 6% below our forecast in Q2. ESL Shipping segment reported clean EBITA of EUR 5.0m compared to our forecast of EUR 5.6m in Q2. Telko and Leipurin segments both reported EUR 0.2-0.3m higher adjusted EBITA than we forecasted in Q2. ESL Shipping segment has suffered from low activity and from weak spot markets. Aspo expects demand in ESL Shipping segment to continue weak in H2 2025. Group level full year 2025 clean EBITA guidance of EUR 35-45m is still repeated. Our EBITA forecast has been below the guidance midpoint of EUR 40m in 2025. However, profitability improvement is at the company's focus area in 2025. The company sells its Leipurin business for EV value of EUR 63m. The sale of Leipurin segment will strengthen the balance sheet and give resources for further acquisitions in Telko segment.
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