Kassu’s pre-comments as Aspo reports its Q4 results on Monday, Feb 16. 
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We expect Aspo’s Q4 result to have grown from the comparison period. Although industrial volumes remaining sluggish continue to hinder a clearer recovery, Aspo’s result in our forecasts is supported especially by ESL Shipping’s improved cost efficiency. However, ahead of the earnings day, we slightly lowered our estimate for ESL’s performance for the end of the year, which led to a very modest decrease of about one percent in our 2025 EBITA forecast. In addition to the earnings figures, the guidance for the current year and any potential further information regarding the separation of businesses are of particular interest.