Correction to the inside information

Aspo subsidiary makes major acquisition in Sweden – Telko to become a leading local player in distribution of chemicals and Leipurin expands into specialty ingredients and the food industry - Seite 2

“We are delighted to see both Telko and Leipurin expand through this significant acquisition, making Sweden Aspo’s largest country of operation in terms of total net sales. Already prior to this latest transaction, Aspo has a successful track-record of expanding into Sweden non-organically, via the acquisitions of AtoBatC Shipping AB and Kobia AB”, says Rolf Jansson, CEO of Aspo Group.

The enterprise value is SEK 500 million (approx. EUR 43 million*) with an additional earnout mechanism of SEK 0–130 million (approx. EUR 0–11 million*) for 2024–2025, depending on Swed Handling’s profitability development, excluding Kebelco. The estimated purchase price at closing is SEK 473 million (approx. EUR 40 million*). Up to SEK 100 million (approx. EUR 9 million*) of the total purchase price can be paid in Aspo’s shares and the rest in cash.

The proportion of the purchase price payable in shares will be decided by Aspo prior to closing and the number of shares to be issued will be based on a volume weighted average Aspo share price defined during a 30-day period ending 5 days prior to the closing date. Aspo’s shares are used to align the interests of Aspo Group with the seller, whose key representatives remain in the service of Swed Handling.

The Board of Directors of Aspo is expected to decide on the above directed share issue (if any) to TeRa Invest AB in connection with the closing of the transaction. Shares possibly directed will be subject to a 3-year lock-up period. The possible earnout will be payable in cash in 2026.

Swed Handling (incl. Kebelco) has approximately 100 employees. The transaction does not have an impact on Aspo’s guidance for 2024, which remains unchanged: Aspo Group’s comparable operating profit is estimated to exceed EUR 30 million in 2024.

* Based on the SEK–EUR exchange rate of 11.7052 on April 26, 2024. Actual future outcomes may differ from the estimates.

Key financials

Acquired entity	Business	Related Aspo segment	Net Sales SEK million	Net Sales EUR million**	EBIT SEK million	EBIT EUR million**
Swed Handling excl. Kebelco	Chemicals ingredients distribution	Telko	586.5 (2023) 657.3 (2022)	51.2 (2023) 61.9 (2022)	54.3 (2023) 55.0 (2022)	4.7 (2023)