Taaleri Plc · OMXHEX:TAALA
Taaleri — Q1 2021 Earnings Presentation
30 slides from Taaleri's earnings presentation, May 7, 2021
Slide 1: Interim Statement Q1 2021
INTERIM STATEMENT Q1 2021 CEO ROBIN LINDAHL 7.5.2021
Slide 2: The sale of wealth management operations and its impact on reporting
THE SALE OF WEALTH MANAGEMENT OPERATIONS AND ITS IMPACT ON REPORTING • On March 10, 2021, Taaleri announced the sale of the wealth management operations to Aktia. Taaleri applies the requirements of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations in the classification, presentati
Slide 3: Highlights during January–March
HIGHLIGHTS DURING JANUARY –MARCH Taaleri announced on 10 March 2021 to sell its wealth management operations to Aktia. As SALE OF WEALTH MANAGEMENT OPERATIONS 1 part of the transaction, the companies agreed to a cooperation that supports the strategies TO AKTIA AND COOPERATION AGREEMENT of both comp
Slide 4: January–March 2021
JANUARY –MARCH 2021 • Segment reporting income was EUR 13.7 (-0.8) million. • Continuing earnings grew by 5.5 per cent to EUR 8.9 (8.4) million. • Performance fees were EUR 0.8 (0.0) million and investment operations generated EUR 4.0 (-9.2) million. • Segment reporting operating profit was EUR 5.1
Slide 5: Group's income and operating profit
GROUP’S INCOME AND OPERATING PROFIT INCOME, MEUR OPERATING PROFIT, MEUR 20.0 8.0 45.2% 37.1% 50.00% 6.0 40.7% 37.4% 15.0 5.8 4.0 40.00% 10.0 4.2 3.3 4.8 5.9 5.8 2.0 5.0 5.1 5.0 9.8 30.00% 8.4 8.8 8.8 8.9 0.0 0.0 -2.0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 20.00% Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2
Slide 6: Group's operating profit
GROUP’S OPERATING PROFIT 5.1 Interim statement Q1 2021
Slide 7: Private Asset Management
PRIVATE ASSET MANAGEMENT Interim statement Q1 2021
Slide 8: Development of assets under management of Private Asset Management segment
DEVELOPMENT OF ASSETS UNDER MANAGEMENT OF PRIVATE ASSET MANAGEMENT SEGMENT The assets under management of the Private Asset Management segment reported by Taaleri Group are assets that generate continuing earnings and include both equity and debt financing. AUM, MEUR 1,736 2,000 Other 8% 1,800 Bioin
Slide 9: Private Asset Management segment's income and operating profit
PRIVATE ASSET MANAGEMENT SEGMENT’S INCOME AND OPERATING PROFIT INCOME, MEUR OPERATING PROFIT, MEUR 8.0 2.5 7.0 1.7 2.0 6.0 5.0 0.9 0.8 1.5 1.0 4.0 1.0 1.9 3.0 4.6 4.6 5.3 1.4 2.0 4.1 4.2 0.5 -0.2 -0.1 1.0 0.5 0.0 0.0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 -0.
Slide 10: Renewable energy prepared for the final closing of the SolarWind II fund
RENEWABLE ENERGY PREPARED FOR THE FINAL CLOSING OF THE SOLAR WIND II FUND • The renewable energy income in January–March 2021 was EUR 4.0 (4.4) million. The comparison period income includes a one-off management fee paid retroactively in connection with the closing of the SolarWind II fund. • Operat
Slide 11: Real estate business made new acquisitions for funds
REAL ESTATE BUSINESS MADE NEW ACQUISITIONS FOR FUNDS • The income of Taaleri’s real estate and bioindustry businesses in January–March 2021 was EUR 1.2 (1.1) million. • Operating profit before allocation of financing expenses was EUR -0.2 (0.0) million and operating profit -0.4 (-0.2) million. • New
Slide 12: Taaleri's renewable energy
TAALERI’S RENEWABLE ENRGY Taaleri SolarWind II Founded 2019 Product Private equity fund Business area Renewable energy AUM Q1 2021 Stage of the fund Investing period PRIVATE Taaleri Wind Fund II Ky Taaleri Wind Fund III Ky 2014 2016 Private equity fund Private equity fund Renewable energy Renewable
Slide 13: Strategic Investments (Garantia)
STRATEGIC INVESTMENTS (GARANTIA) Interim statement Q1 2021
Slide 14: Good growth in insurance premium income, claims incurred remained low
GOOD GROWTH IN INSURANCE PREMIUM INCOME, CLAIMS INCURRED REMAINED LOW • Earned premiums grew 13.7 per cent in the reporting period to EUR 3.9 (3.4) million. COMBINED RATIO, % • Activity in the housing market continues and the new 70 64% 60% distribution parner strengthenes the availability of the 60
Slide 15: Other
OTHER Interim statement Q1 2021
Slide 16: Other
OTHER • 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. • Income of the Other group in January–March 2021 was EUR 1.5 (-2.1) million. • The Other group’s operating profit in the review pe
Slide 17: Wealth Management
WEALTH MANAGEMENT Interim statement Q1 2021
Slide 18: Mutual funds performed well
MUTUAL FUNDS PERFORMED WELL • Income of wealth management operations classified as discontinued operations in January–March 2021 was EUR 11.3 (8.7) million. • The continuing fees of wealth management grew by 6.3 per cent to EUR 8.0 (7.6) million. • The performance of Taaleri’s mutual funds was excel
Slide 19: Result, balance sheet and capital adequacy
RESULT, BALANCE SHEET AND CAPITAL ADEQUACY Interim statement Q1 2021
Slide 20: Key figures
KEY FIGURES Group key figures, continuing operations in Q1 2021 Q1 2020 Change 2020 Long segment reporting term target Earnings key figures Continuing earnings, MEUR 8.9 8.4 5.5% 35.9 Growth in continuing earnings, % 5.5% n/a n/a n/a > 15.0 Income, MEUR 13.7 -0.8 n/a 40.0 Operating profit, MEUR 5.1
Slide 21: Group's result in segment reporting
GROUP’S RESULT IN SEGMENT REPORTING EUR 1,000 Q1 2021 Q1 2020 Change 2020 Continuing earnings* 8,905 8,438 5.5% 35,885 Performance fees 797 1 above 100% 985 Investment operations 3,968 -9,246 n/a 3,169 INCOME 13,670 -808 n/a 40,038 Fee and commission expense -1,884 -1,748 7.8% -8,192 Interest expens
Slide 22: Balance sheet
BALANCE SHEET Assets, EUR 1,000 31.3.2021 31.12.2020 Receivables from credit instutions 26,727 25,786 Wealth management EUR 24.0 million Receivables from the public and general government 5,079 6,699 Fellow Finance EUR 5.2 million Debt securities 1,498 1,498 Shares and units 21,904 21,971 Assets cla
Slide 23: Capital adequacy – RAVA conglomerate & financing sector
CAPITAL ADEQUACY – RAVA CONGLOMERATE & FINANCING SECTOR CAPITAL ADEQUACY OF RAVA CONGLOMERATE, 31.3.2021 31.12.2020 FINANCING SECTOR’S CAPITAL ADEQUACY, 31.3.2021 31.12.2020 EUR 1,000 EUR 1,000 (CRR 49 PERMISSION) Shareholders’ equity of the Taaleri Group 139,850 133,209 Common Equity Tier 1 before
Slide 24: Summary
SUMMARY Interim statement Q1 2021
Slide 25: Q1 summary
Q1 SUMMARY • Taaleri revised its strategy after the announcement the sale of Taaleri’s wealth management operations to Aktia. • Taaleri focuses on private asset management and strategic investments. Following the execution of the sale, Taaleri’s private asset management operations will be strengthen
Slide 26: A look into next quarter
A LOOK INTO NEXT QUARTER • The execution of the sale of wealth management operations, Taaleri will recognise a capital gain of approximately EUR 110 million on the sale in the second quarter of 2021. • Starting the cooperation with Aktia. • Starting the infrastructure business in Private Asset Manag
Slide 27: Further information
F U R T H E R I N F O R M AT I O N : Interim statement Q1 is found on www.taaleri.com/en/investor-relations/reports-and-presentations siri.markula@taaleri.com, Head of Communications and IR +358 40 743 2177 Kasarmikatu 21, 4th floor 00130 Helsinki
Slide 28: Attachments
ATTACHMENTS Interim statement Q1 2021
Slide 29: Segment result Q1 2021
SEGMENT RESULT Q1 2021 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET (GARANTIA) MANAGEMENT Continuing earnings* 4,213 3,193 1,019 3,609 1,083 8,905 Performance fees 797 797 - - - 797 Investment operations 162 - 162 3,427 379 3,968 INCOME 5,
Slide 30: Segment result Q1 2020
SEGMENT RESULT Q1 2020 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET (GARANTIA) MANAGEMENT Continuing earnings* 4,561 3,489 1,071 3,302 576 8,438 Performance fees 1 - 1 - - 1 Investment operations 888 892 -3 -7,436 -2,699 -9,246 INCOME 5,45