Taaleri Plc · OMXHEX:TAALA
Taaleri — Q2 2021 Earnings Presentation
30 slides from Taaleri's earnings presentation, Aug 19, 2021
Slide 1: Taaleri Q2 2021
TAALERI Q2 2021 CEO ROBIN LINDAHL CFO MINNA SMEDSTEN 19.8.2021
Slide 2: The differences between IFRS reporting and segment reporting
THE DIFFERENCES BETWEEN IFRS REPORTING AND SEGMENT REPORTING • On April 30, 2021, Taaleri completed the sale of its wealth management operations to Aktia. Taaleri applies the requirements of IFRS 5 Non- current Assets Held for Sale and Discontinued Operations in the classification, presentation, and
Slide 3: Highlights during April–June
HIGHLIGHTS DURING APRIL –JUNE A RECORD RESULT DUE TO THE SALE OF Taaleri completed the sale of its wealth management operations to Aktia and recognized a 1 THE WEALTH MANAGEMENT OPERATIONS tax-free gain of EUR 111.1 million on the transaction. STRONG GROWTH IN CONTINUING Continuing earnings grew 27.
Slide 4: April–June 2021
APRIL–JUNE 2021 • The income in accordance with segment reporting grew by 10.4% to EUR 14.3 (13.0) million. • Continuing earnings grew by 27.2% to EUR 11.2 (8.8) million. • Performance fees were EUR 0.0 (0.0) million and investment operations generated EUR 3.2 (4.2) million. • The operating profit i
Slide 5: Group's income and operating profit
GROUP’S INCOME AND OPERATING PROFIT INCOME, MEUR OPERATING PROFIT, MEUR 20.0 7.0 45.2 % 37.4 % 50.00% 40.7 % 6.0 37.1 % 30.9 % 40.00% 15.0 5.0 4.2 5.8 3.2 30.00% 4.8 4.0 Long term target, 10.0 3.3 3.0 5.9 5.8 operating profit >25% 5.1 20.00% 5.0 4.4 5.0 9.8 11.2 2.0 8.8 8.8 8.9 10.00% 1.0 0.0 0.0 0.
Slide 6: Group's operating profit EUR 4.4 million, corresponding 30.9% of income in Q2
GROUP’S OPERATING PROFIT EUR 4.4 MILLION, CORRESPONDING 30.9% OF INCOME IN Q2 4.4 Taaleri Q2 2021
Slide 7: Private Asset Management
PRIVATE ASSET MANAGEMENT Taaleri Q2 2021
Slide 8: SolarWind II reached total investment commitments of EUR 354 million in its final closing
SOLARWIND II REACHED TOTAL INVESTMENT COMMITMENTS OF EUR 354 MILLION IN ITS FINAL CLOSING • The continuing earnings of renewable energy grew by 36.0% to EUR 4.3 (3.2) million and income to EUR 4.3 million during the review period. • Operating profit of renewable energy before allocation of financing
Slide 9: Other Private Asset Management focused on growing the business according to the strategy
OTHER PRIVATE ASSET MANAGEMENT FOCUSED ON GROWING THE BUSINESS ACCORDING TO THE STRATEGY • The continuing earnings from the real estate, bioindustry and infrastructure businesses grew in January–June by 40.6% to EUR 1.3 (1.0) million, and the income remained unchanged at EUR 1.0 (1.0) million. • Taa
Slide 10: 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 2.0 6.0 1.7 1.9 1.5 5.0 0.9 0.8 1.0 1.0 1.4 4.0 3.0 5.6 0.5 5.3 0.5 2.0 4.6 4.1 4.6 4.2 -0.2 -0.1 -0.7 0.0 1.0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 -0.3 -0.5 0.0 -1.0 Q1 2020 Q2
Slide 11: 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 2,110 2,500 Other 8% Bioindustry
Slide 12: Taaleri's renewable energy and other private asset management funds
TAALERI’S RENEWABLE ENRGY Taaleri SolarWind II Founded 2019 Product Private equity fund Business area Renewable energy AUM Q2 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
STRATEGIC INVESTMENTS Taaleri Q2 2021
Slide 14: Growth of 17.7% in insurance premium income, combined ratio 23.1%
GROWTH OF 17.7% IN INSURANCE PREMIUM INCOME, COMBINED RATIO 23.1% • Earned premiums grew by 17.7% to EUR 4.4 (3.7) million. COMBINED RATIO, % * 70 64 % • Activity in the housing market continues and the new 60 % 60 55 % distribution partner strengthens the availability of the residential mortgage gu
Slide 15: Other
OTHER Taaleri Q2 2021
Slide 16: Taaleri reorganised its financing and distributed a total of EUR 37.4 million to shareholders
TAALERI REORGANISED ITS FINANCING AND DISTRIBUTED A TOTAL OF EUR 37.4 MILLION TO SHAREHOLDERS • 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. • In April–June 2021, the income of the Oth
Slide 17: Result, balance sheet and capital adequacy
RESULT, BALANCE SHEET AND CAPITAL ADEQUACY Taaleri Q2 2021
Slide 18: Key figures
KEY FIGURES Group key figures, continuing operations in Q2 2021 Q2 2020 Change H1 2021 H1 2020 Change 2020 Long segment reporting term target Earnings key figures Continuing earnings, MEUR 11.2 8.8 27.2% 20.1 17.2 16.6% 35.9 >15.0% Income, MEUR 14.3 13.0 10.4% 28.0 12.2 129.9% 40.0 Operating profit,
Slide 19: Group's result in segment reporting
GROUP’S RESULT IN SEGMENT REPORTING EUR 1,000 Q2 2021 Q2 2020 Change H1 2021 H1 2020 Change 2020 Taaleri is investing in Continuing earnings 11,160 8,771 27.2% 20,066 17,209 16.6% 35,885 the growth of the private Performance fees 14 19 -28.0% 811 20 >100% 985 asset management business in accordance
Slide 20: Balance sheet
BALANCE SHEET Assets, EUR 1,000 30.6.2021 31.12.2020 Receivables from credit instutions 57,299 25,786 Shares of Aktia Bank Plc EUR 10.5 Receivables from the public and general government 5,303 6,699 million Debt securities 1,498 1,498 Shares and units 36,231 21,971 Assets classified as held for sale
Slide 21: Capital adequacy of RaVa conglomerate
CAPITAL ADEQUACY OF RAVA CONGLOMERATE CAPITAL ADEQUACY OF RAVA CONGLOMERATE, 30.6.2021 31.12.2020 EUR 1,000 Shareholders’ equity of the Taaleri Group 216,671 133,209 Goodwill and other intangible assets -1,021 -6,778 Non-controlling interests 691 1,134 Dividend for 2020 - -9,072 The conglomerate’s c
Slide 22: Summary
SUMMARY Taaleri Q2 2021
Slide 23: Q2 summary
Q2 SUMMARY • Taaleri completed the sale of its wealth management operations to Aktia and recognized a tax-free gain of EUR 111.1 million on the transaction. • Continuing earnings grew in both Private Asset Management and Garantia Insurance Company Ltd. • SolarWind II reached an investment commitment
Slide 24: A look into next quarter
A LOOK INTO NEXT QUARTER • Renewable Energy will continue to make new investments in the SolarWind II fund. • The main focus of the real estate business is on launching a new housing fund. At the beginning of the third quarter, Taaleri exited the Taaleri Asunto VI fund very successfully. • The bioin
Slide 25: Further information
F U R T H E R I N F O R M AT I O N : Half year financial statement 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 26: Attachments
ATTACHMENTS Taaleri Q2 2021
Slide 27: Segment result Q2 2021
SEGMENT RESULT Q2 2021 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET MANAGEMENT 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 TOTAL INCOME* 5,333 4,
Slide 28: Segment result Q2 2020
SEGMENT RESULT Q2 2020 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET MANAGEMENT Continuing earnings 4,121 3,169 952 3,632 1,018 8,771 Performance fees 19 - 19 - - 19 Investment operations -1 - -1 4,065 133 4,198 TOTAL INCOME* 4,139 3,169 97
Slide 29: Segment result H1 2021
SEGMENT RESULT H1 2021 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET MANAGEMENT Continuing earnings 9,861 7,503 2,358 8,165 2,040 20,066 Performance fees 811 797 14 - - 811 Investment operations -166 -5 -161 6,144 1,152 7,129 TOTAL INCOME*
Slide 30: Segment result H1 2020
SEGMENT RESULT H1 2020 EUR 1,000 PRIVATE RENEWABLE OTHER STRATEGIC OTHER TOTAL ASSET ENERGY PRIVATE INVESTMENTS MANAGEMENT ASSET MANAGEMENT Continuing earnings 8,681 6,658 2,023 6,934 1,593 17,209 Performance fees 20 - 20 - - 20 Investment operations 888 892 -4 -3,371 -2,566 -5,049 TOTAL INCOME* 9,5