Slide 1: Taaleri Q2 2022 results presentation
CEO Peter Ramsay CFO Minna Smedsten 19 August 2022
Slide 2: Changes in fair values weighed on Group income and operating profit
Changes in the fair values in the The first fund of the bioindustry Real estate business carried out Strategic Investments segment business, Taaleri Bioindustry I, two new investments in Aktia’s weighed on the Group’s income and reached its target size of EUR 80 special mutual funds that are operati
Slide 3: Q2 2022 key figures
• Continuing earnings decreased by 14.3% to EUR 9.3 (11.2) million. The continuing earnings of the Private Asset Management segment decreased by 14.4% to EUR 4.8 (5.6) million, and the continuing earnings of the Strategic Investments segment by 12.2% to EUR 4.0 (4.6) million. • No performance fees w
Slide 4: Continuing earnings and operating profit by quarter
80.0 44.2% 35.0 42.3% 50.00% 70.0 40.6% 45.00% 30.0 38.5% 60.0 40.00% 35.1% 29.0 25.0 Pitkän35.00% aikavälin tavoite, 22.1 50.0 21.2 liikevoitto yli 25 % 17.1 16.9 30.00% 20.0 40.0 Long term 25.00% target >25% 15.0 30.8 30.0 20.00% 23.6 22.7 24.3 10.0 21.3 15.00% 20.0 38.7 39.1 40.7 41.1 39.5 10.00%
Slide 5: Unrealized fair value changes weighed on Q2 income and operating profit
The unrealized changes in the fair value of investment operations weighed on income and operating profit also in Q2 11.0 0.7 10.0 23 | 9.0 8.0 40 7.0 6.0 Le 43 5.0 -0.4 40 3.2 3.0 0.0 2.4 2.0 -3.0 1.0 0.0 Net continuing Net Net income from Net investment Other income Personnel costs Depreciation and
Slide 6: Development of Taaleri's operating profit, 12M
The development of Taaleri’s operating profit, 12M 55.0 50.0 45.0 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 13.2 9.2 17.3 10.1 2.2 a -19.1 -0.4 -11.3 21.3 Net continuing earnings of private asset management aaleri Q2 Net performance fees Net income from guarantee insurance operations Net investment
Slide 7: Private Asset Management
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Slide 8: Renewable energy business
• During the review period, the renewable energy business focused on advancing the Taaleri SolarWind II fund’s projects that are in the construction phase in Finland, Lithuania and Croatia. • Two new projects were successfully added to Taaleri Energia’s project development portfolio during the revie
Slide 9: Bioindustry, real estate and other businesses
• Fundraising for the bioindustry business’s first private equity fund, Taaleri Bioindustry I, continued extremely successfully during the review period and the fund reached its target size of EUR 80 million already in the first round of funding. The Finnish Climate Fund, a state-owned special assig
Slide 10: Private Asset Management earnings and operating profit by quarter
35.0 8.0 30.00% 30.0 7.0 25.00% 25.0 10.9 10.4 11.6 6.0 24.0% 17.7% 22.5% 3.2 1.8 5.0 20.4% 20.00% 20.0 4.0 12.3% 15.00% 15.0 7.5 7.0 3.0 6.4 10.0 19.7 20.0 20.1 20.8 20.0 10.00% 2.0 4.1 5.0 2.7 5.00% 1.0 0.0 0.0 0.00% Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 C
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
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Slide 13: Garantia: solvency ratio strengthened to 238%
• Earned premiums decreased by 8.1% and amounted to EUR 4.0 (4.5) million. The sales of guaranty insurances grew. • Earned premiums decreased as a result of the change in the provision for unearned premiums, which was larger than in the period of comparison. The growth in the provision for unearned
Slide 14: Other
TAALERI TAALERI
Slide 15: Other group: 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 7.1 (1.7) million, consisting of continuing earnings of EUR 0.7 (1.0) million and net income
Slide 16: Result and balance sheet
TAALERI Result and balance sheet Sy
Slide 17: Q2 2022 income statement by segment
Continuing earnings 4,834 3,568 1,266 3,999 735 9,568 Performance fees - - - - - - Investment operations 961 774 188 -5,075 6,399 2,285 Income* 5,795 4,341 1,454 -1,076 7,133 11,852 Fee and commission expense -1,699 -1,250 -449 6 -75 -1,768 Personnel costs -2,940 -1,691 -1,249 -733 -638 -4,311 Direc
Slide 18: Group income statement Q2 and H1 2022
Continuing earnings 9,568 11,160 -14.3% 18,859 20,066 -6.0% 40,711 Performance fees - 14 -100.0% 500 811 -38.3% 11,411 Investment operations 2,285 3,161 -27.7% -350 7,129 -104.9% 17,593 Income* 11,852 14,335 -17.3% 19,009 28,005 -32.1% 69,715 Fee and commission expense -1,768 -1,843 -4.1% -3,480 -3,
Slide 19: Q2 2022 key figures summary
Q2 2021: €11.2 million Q2 2021: €14.3 million Q2 2021: €5.4 million 31.12.2021: €2.2 billion H1 2021: €20.1 million H1 2021: €28.0 million H1 2021: €11.3 million AUM 30.6.2022: €2.4 billion AUM 31.12.2021: €2.2 billion 19 Taaleri Q2 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: Outlook
TAALERI
Slide 22: Summary of Q2 2022 business developments
• The result of Group’s investing operations was twofold. Changes in the fair values in the Strategic Investments segment weighed on the Group’s income and operating profit, but an earn-out from the Finsilva holding sold in 2016 of EUR 6.7 million was recognized. • The first fund of the bioindustry
Slide 23: Outlook and upcoming events
• Renewable energy business will launch the marketing for Taaleri SolarWind III this autumn. In addition, it will make the final investments in Taaleri SolarWind II fund and continues its own project development activities. • The bioindustry business continues the fundraising of Taaleri Bioindustry
Slide 24: Further information
The Half-Year Financial Report 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
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Slide 26: Garantia balance sheet and investments
Receivables from credit institutions 26,059 53,255 Cash at bank EUR 26.1 million, dividend of Receivables from the public and general government 6,516 6,021 EUR 34.0 million paid in April Shares and units 47,020 41,546 Assets classified as held for sale - 5,246 Participating interests 9,590 8,889 Th
Slide 27: Q2 2021 income statement by segment
Continuing earnings 5,648 4,309 1,338 4,556 956 11,160 Performance fees 14 - 14 - - 14 Investment operations -329 -5 -324 2,717 773 3,161 Income* 5,333 4,304 1,028 7,273 1,729 14,335 Fee and commission expense -1,773 -1,075 -698 - -70 -1,843 Personnel costs -2,347 -1,403 -944 -769 -1,120 -4,236 Dire