Taaleri changes its segment reporting and publishes comparative financial information for segments for 2023

07.08.2024

7.8.2024 12:30:01 EEST | Taaleri Oyj | Other information disclosed according to the rules of the Exchange

TAALERI PLC                   STOCK EXCHANGE RELEASE                  7 AUGUST 2024 AT 12:30 p.m. (EEST)

Taaleri changes its segment reporting and publishes comparative financial information for segments for 2023

Taaleri Plc has changed its segment reporting as of 1 April 2024. As of this date, the Group's continuing operations will include two reported segments: Private Asset Management, which is divided into Renewable energy and Other private asset management, and Garantia, which includes Garantia Insurance Company. Previously, the Group's reported segments were Private Asset Management and Strategic Investments. The group Other presents the Group's non-strategic investments, Taaleri Kapitaali and Group functions not included in the business segments.

The change in segment reporting is a consequence of Taaleri Plc’s sale of 150,000 Aktia Bank Plc shares during the period 1 April–30 June 2024. As of 30 June 2024, Taaleri still held 824,563 shares in Aktia Bank Plc, which will be reported as of 1 April 2024 under the group Other. Taaleri received shares in Aktia Bank Plc on 30 April 2021 as part of the consideration for the sale of its wealth management business to Aktia Bank Plc.

Taaleri will publish its Half-Year Financial Report for the period 1 January–30 June 2024 on Tuesday, 20 August 2024 at approximately 8:00 a.m. EEST using the new reporting structure.

Taaleri publishes comparative financial information and information in accordance with the new reporting structure for the financial year 2023 and the period 1 January–31 March 2024. The comparative information includes income and operating profit by quarter. The comparative information is unaudited.

 

 

FY 2023 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	39,872	24,374	18,132	6,242	13,572	1,926
Performance fees	1,489	1,489	-	1,489	-	-
Investment operations	24,979	16,471	17,226	-755	4,738	3,770
Income	66,340	42,335	35,359	6,976	18,310	5,695
Fee and commission expense	-6,576	-6,495	-4,226	-2,269	-	-81
Personnel costs	-16,140	-11,634	-7,647	-3,987	-1,422	-3,084
Other administrative expenses	-11,157	-8,694	-6,644	-2,050	-62	-2,401
Depreciation, amortisation, and impairment	25	-29	45	-74	-	54
Impairment losses on loans	-607	-565	-565	-	-	-41
Operating profit	31,885	14,918	16,322	-1,404	16,826	142
Operating profit, %	48.1%	35.2%	46.2 %	neg	91.9%	2.5%

 

Q1 2023 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	9,839	5,550	3,938	1,612	3,874	416
Performance fees	-	-	-	-	-	-
Investment operations	-587	-339	-317	-22	908	-1,156
Income	9,252	5,210	3,620	1,590	4,781	-740
Fee and commission expense	-1,561	-1,535	-1,062	-474	-	-25
Personnel costs	-4,309	-2,933	-1,822	-1,111	-387	-990
Other administrative expenses	-1,809	-1,530	-1,031	-498	-16	-263
Depreciation, amortisation, and impairment	-13	-10	-6	-4	-	-3
Impairment losses on loans	-3	-	-	-	-	-3
Operating profit	1,557	-798	-300	-498	4,379	-2,024
Operating profit, %	16.8%	neg	neg	neg	91.6%	neg

 

Q2 2023 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	9,860	5,643	3,976	1,667	3,491	727
Performance fees	1,494	1,494	-	1,494	-	-
Investment operations	14,955	8,951	8,943	8	1,707	4,296
Income	26,308	16,088	12,919	3,169	5,197	5,023
Fee and commission expense	-1,854	-1,847	-1,057	-790	-	-7
Personnel costs	-3,956	-3,268	-2,399	-868	-265	-423
Other administrative expenses	-2,680	-1,968	-1,361	-608	-11	-701
Depreciation, amortisation, and impairment	-31	-9	-5	-4	-	-22
Impairment losses on loans	-33	-	-	-	-	-33
Operating profit	17,754	8,996	8,097	899	4,921	3,837
Operating profit, %	67.5%	55.9%	62.7%	28.4%	94.7%	76.4%

 

Q3 2023 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	10,292	6,484	5,052	1,432	3,430	377
Performance fees	-5	-5	-	-5	-	-
Investment operations	2,810	1,903	1,899	3	692	216
Income	13,098	8,382	6,951	1,431	4,122	593
Fee and commission expense	-1,504	-1,497	-1,024	-473	-	-7
Personnel costs	-3,791	-2,593	-1,894	-699	-256	-942
Other administrative expenses	-2,214	-1,624	-1,302	-322	-15	-574
Depreciation, amortisation, and impairment	107	42	84	-42	-	66
Impairment losses on loans	-3	-	-	-	-	-3
Operating profit	5,693	2,710	2,815	-105	3,851	-868
Operating profit, %	43.5%	32.3%	40.5%	neg	93.4%	neg

 

Q4 2023 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	9,881	6,698	5,167	1,531	2,777	406
Performance fees	-	-	-	-	-	-
Investment operations	7,801	5,957	6,701	-744	1,431	413
Income	17,682	12,655	11,868	787	4,209	819
Fee and commission expense	-1,658	-1,616	-1,083	-533	-	-42
Personnel costs	-4,084	-2,840	-1,532	-1,308	-514	-729
Other administrative expenses	-4,454	-3,572	-2,950	-622	-20	-862
Depreciation, amortisation, and impairment	-38	-51	-28	-23	-	13
Impairment losses on loans	-567	-565	-565	-	-	-2
Operating profit	6,882	4,010	5,710	-1,700	3,675	-803
Operating profit, %	38.9%	31.7%	48.1%	neg	87.3%	neg

 

Q1 2024 (EUR 1,000)	Group total	Private Asset Management	Renewable energy	Other private asset management	Garantia	Other
Continuing earnings	10,281	5,894	4,567	1,327	3,913	474
Performance fees	-	-	-	-	-	-
Investment operations	6,764	794	771	24	4,789	1,180
Income	17,044	6,688	5,337	1,351	8,702	1,654
Fee and commission expense	-1,500	-1,485	-1,062	-423	-	-15
Personnel costs	-3,871	-2,859	-1,651	-1,207	-192	-821
Other administrative expenses	-2,181	-1,824	-1,233	-591	-25	-333
Depreciation, amortisation, and impairment	-54	-53	-28	-26	-	-
Impairment losses on loans	147	-	-	-	-	147
Operating profit	9,585	467	1,364	-897	8,486	632
Operating profit, %	56.2%	7.0%	25.5%	neg	97.5%	38.2%

 

 

Taaleri Plc
Communications

 

Further information:
Ilkka Laurila, CFO, +358 40 076 1360, ilkka.laurila@taaleri.com  

 

Distribution:
Nasdaq Helsinki
Principal media
www.taaleri.com

Taaleri in brief

Taaleri is a Nordic investment and asset manager that focuses on businesses with industrial-scale opportunities within bioindustry and renewable energy. We create value by combining extensive know-how, deep expertise, entrepreneurship and capital through both funds under management and direct investments. We have been a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010, and we joined the Net Zero Asset Managers initiative in 2021. Taaleri’s vision is to become a leading investment manager operating internationally in bioindustry and renewable energy.

Taaleri has EUR 2.6 bn of assets under management in its private equity funds and co-investments. The company has approximately 125 employees. Taaleri Plc is listed on Nasdaq Helsinki.

www.taaleri.com 

Head of Investor Relations and Communications Linda Tierala, +358 40 571 7895, linda.tierala@taaleri.com