Slide 1: Interim Statement Q3 2022
CEO Peter Ramsay CFO Minna Smedsten 4 November 2022
Slide 2: Q3 2022 highlights
In addition to the growth in Taaleri Bioindustry I reached a size The real estate business carried continuing earnings, the operating of over EUR 100 million in its second out several acquisitions, both for profit was increased by a profit of round of funding and continues Aktia’s special investment
Slide 3: Q3 2022 key figures
• Continuing earnings grew by 14.2% to EUR 10.5 (9.2) million. The Private Asset Management segment’s continuing earnings grew by 10.1% to EUR 5.3 (4.8) million and the Strategic Investments segment’s continuing earnings by 13.7% to EUR 4.4 (3.9) million. • Performance fees were EUR 6.5 (0.0) millio
Slide 4: Continuing earnings and operating profit by quarter
80.0 44.2% 40.0 46.4% 50.00% 70.0 35.0 40.6% 45.00% 38.5% 60.0 40.00% 34.5 30.0 35.1% 29.0 Pitkän35.00% aikavälin tavoite, 22.1 50.0 21.2 liikevoitto yli 25 % 16.9 25.0 30.00% 40.0 Long term 20.0 25.00% target >25% 34.9 30.0 30.8 20.00% 15.0 22.7 24.3 15.00% 20.0 39.1 40.7 41.1 39.5 40.8 21.3 10.0 1
Slide 5: Operating profit development in Q3
A completed exit increased the group's performance fees and net income from investment operations in O3 30.0 25.0 20.0 15.0 10.0 5.0 0.0 3.8 5.8 44 9.9 0.0 18.5 Net continuing earnings of private asset management aaleri Q3 2022 performance Net fees Net income from guarantee insurance operations Net
Slide 6: Development of operating profit, 12M
The development of Taaleri’s operating profit, 12M 70.0 60.0 50.0 40.0 30.0 20.0 10.0 0.0 13.7 Net continuing earnings of private asset management aaler 15.0 17.9 16.9 2.5 a -19.5 -0.4 -11.2 34.9 Net performance fees Net income from guarantee insurance operations Net investment operations of whole G
Slide 7: TAALERI
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Slide 8: Renewable energy business
• The renewable energy business focused on advancing the Taaleri SolarWind II fund’s projects in the construction phase in Finland, Spain, Lithuania and Croatia. • Three new projects were successfully added to Taaleri Energia’s project development portfolio, which accelerates the launch of the Taale
Slide 9: Bioindustry and real estate businesses
• The fundraising of the first private equity fund of the bioindustry business, Taaleri Bioindustry I, continued very well during the review period. The fund reached a size of over EUR 100 million in its second round of funding, and the fund’s anchor investor, the state-owned special-assignment comp
Slide 10: Private Asset Management segment by quarter
45.0 16.0 40.00% 40.0 34.2% 14.0 35.00% 35.0 12.0 30.00% 30.0 19.4 24.0% 10.9 10.4 11.6 10.0 22.5% 25.00% 25.0 20.4% 20.0 1.8 8.0 20.00% 13.6 15.0 6.0 12.3% 15.00% 10.0 20.0 20.1 20.8 20.0 20.5 4.0 7.5 10.00% 7.0 6.4 5.0 2.0 5.00% 2.7 0.0 0.0 0.00% Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q3 2021 Q4
Slide 11: Assets under management by fund
Taaleri SolarWind II 2019 Private equity fund Renewable energy Investing period Taaleri Wind Fund II Ky 2014 Private equity fund Renewable energy Invested Taaleri Wind Fund III Ky 2016 Private equity fund Renewable energy Invested Taaleri SolarWind I Ky 2016 Private equity fund Renewable energy Inve
Slide 12: Strategic Investments
TAALERI Stra Investme
Slide 13: Garantia guaranty insurance operations
• The net income from guaranty insurance operations increased by 13.5% from the period of comparison and amounted to EUR 4.4 (3.9) million. • The increase in net income from insurance operations resulted from growth in premiums earned and a sustained low level of claims. Earned premiums increased by
Slide 14: TAALERI
TAALERI TAALERI
Slide 15: Other group and non-strategic investments
• The group entitled Other is used to present the Group’s non-strategic investments, Taaleri Kapitaali and Group operations not included in the business segments. • The income of the Other group totalled EUR 8.3 (1.4) million, consisting of continuing earnings of EUR 0.7 (0.5) million and net income
Slide 16: Result and balance sheet
TAALERI Ss Result and balance sheet
Slide 17: Q3 2022 income statement by segment
Continuing earnings 5,334 3,714 1,620 4,444 742 10,520 Performance fees 6,492 - 6,492 - - 6,492 Investment operations 748 798 -50 1,611 7,540 9,898 Income* 12,574 4,512 8,062 6,054 8,282 26,910 Fee and commission expense -2,232 -1,114 -1,118 -9 -141 -2,383 Personnel costs -2,454 -1,471 -983 -613 -98
Slide 18: Group income statement and comparison
Continuing earnings 10,520 9,210 14.2% 29,379 29,276 0.4% 40,711 Performance fees 6,492 - 100.0% 6,992 811 >100.0% 11,411 Investment operations 9,898 3,092 220.2% 9,548 10,221 -6.6% 17,593 Income* 26,910 12,302 118.7% 45,919 40,307 13.9% 69,715 Fee and commission expense -2,383 -1,820 31.0% -5,863 -
Slide 19: Key figures Q3 2022
Q3 2021: €9.2 million Q3 2021: €12.3 million Q3 2021: €4.9 million 31.12.2021: €2.2 billion Q1–Q3 2021: €29.3 million Q1–Q3 2021: €40.3 million Q1–Q3 2021: €16.1 million AUM 30.9.2022: €2.5 billion AUM 31.12.2021: €2.2 billion 19 Taaleri Q3 2022
Slide 20: Balance sheet and dividend
31.12.2021: €33.1 million 31.12.2021: €165.9 million 31.12.2021: €318.7 million 31.12.2021: €229.7 million Other assets Cash and cash equivalents Garantia’s investment portfolio 31.12.2021: €23.7 million 31.12.2021: €53.3 million Non-strategic investments A dividend of EUR 1.20 per Strategic investm
Slide 21: TAALERI
TAALERI
Slide 22: Summary of Q3 2022
• Taaleri’s continuing earnings grew by 14.2% and operating profit more than tripled due to a completed exit. Taaleri recognized a profit of EUR 14.0 million from the sale of Ficolo Ltd and the related exit of Taaleri Datacenter Ky. • The first fund of the bioindustry business, Taaleri Bioindustry I
Slide 23: Outlook and next steps
• Renewable energy business will launch the marketing for Taaleri SolarWind III. In addition, it will make the final investments in Taaleri SolarWind II fund and continues its own project development activities, which accelerates the launch of the Taaleri SolarWind III fund. • The bioindustry busine
Slide 24: Further information
The Interim Statement is found on our website Further information: Head of Communications and IR Siri Markula, siri.markula@taaleri.com, +358 40 743 2177
Slide 25: Attachments
TAALERI achments
Slide 26: Garantia balance sheet
Receivables from credit institutions 46,522 53,255 Cash at bank EUR 46.5 million, dividend of Receivables from the public and general government 6,270 6,021 EUR 34.0 million paid in April Shares and units 46,042 41,546 Assets classified as held for sale - 5,246 Participating interests 6,010 8,889 Th
Slide 27: Q3 2021 income statement by segment
Continuing earnings 4,846 3,578 1,267 3,909 456 9,210 Performance fees - - - - - - Investment operations -537 -4 -533 2,651 977 3,092 Income* 4,309 3,574 735 6,560 1,433 12,302 Fee and commission expense -1,598 -1,016 -583 -100 -121 -1,820 Personnel costs -1,985 -1,220 -765 -905 -720 -3,610 Direct e