Taaleri Plc · OMXHEX:TAALA
Taaleri — Q1 2024 Earnings Presentation
29 slides from Taaleri's earnings presentation, May 7, 2024
Slide 1: Interim Statement Q1 2024
CEO Peter Ramsay CFO Ilkka Laurila 7 May 2024
Slide 2: Taaleri Q1 2024
Q1 2023: €9.8 million Q1 2023: €9.3 million Q1 2023: €1.6 million 31.12.2023: €2.6 billion Continuing earnings €40.3 million Income €74.1 million Operating profit €39.9 million 85% of the assets under management by (LTM) (LTM) (LTM) Taaleri are sustainable fund products classified in accordance with
Slide 3: Continuing earnings grew to EUR 10.3 million
The Group’s continuing earnings grew to In addition, the focus of renewable The business continued supporting the EUR 10.3 million, mainly driven by the energy business was on the active growth and profitability of the portfolio Private Asset Management segment. development of the fund’s project com
Slide 4: Private Asset Management
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Slide 5: Renewable energy: SolarWind III Fund projects
• The projects of the Taaleri SolarWind III Fund are mainly based on the project development portfolio acquired from Taaleri Energia, several of the projects of which were promoted towards a construction decision during the period. At the end of the review period, one of the fund’s projects was alre
Slide 6: Real estate and bioindustry business
• The real estate business focused on updating the business strategy. In addition, the business completed the sale of Taaleri Housing Fund IV Ky during the review period by selling the fund’s only investment. • The bioindustry business continued to support the investees of the Taaleri Bioindustry I
Slide 7: Strategic Investments
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Slide 8: Garantia's insurance service result increased to EUR 4.0 million
• Garantia’s insurance service result increased to EUR 4.0 million as insurance service expenses decreased and the combined ratio improved 60 55% to 21.5%. 50 • Garantia’s net income from investment operations increased to EUR 4.8 40 37% 35% million as a result of the strong development of the stock
Slide 9: Other
TAALERI Other
Slide 10: Non-strategic investments totalled EUR 18.9 million
• On 31 March 2024, Taaleri’s non-strategic investments totalled EUR 18.9 (31 December 2023: 26.4) million. At the beginning of the year, Taaleri received the purchase price receivable of a real estate project located in Canada that was part of non-strategic investments, which is why the non-strateg
Slide 11: Result and balance sheet
TAALERI Result a balanc® sheet ~~ .)
Slide 12: Group continuing earnings grew to EUR 10.3 million
The Group’s continuing earnings grew to EUR 10.3 million, mainly driven by the Private Asset Management segment. Income increased to EUR 17.0 million as a result of growth in continuing earnings and a strong net income from investment operations. The strong growth in income also supported the streng
Slide 13: EUR million, Taaleri Q1 2024
EUR million 9.6 4,4 Taaleri Q1 2024
Slide 14: EUR million, Taaleri Q1 2024
EUR million 69.8 4,4 Taaleri Q1 2024
Slide 15: Taaleri Q1 2024
30.0 20.0 80.0 % 67.5% 25.0 70.0 % 15.0 56.2% 60.0 % 20.0 16.4 43.5% 50.0 % 15.0 38.9% 7.8 6.8 10.0 40.0 % 2.8 17.8 10.0 30.0 % 5.0 10.3 10.3 5.0 16.8% 20.0 % 9.8 9.9 9.9 9.6 6.9 5.7 10.0 % 0.0 -0.6 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 1.6 0.0 0.0 % -5.0 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Co
Slide 16: Taaleri Q1 2024
18.0 10.0 55.9% 60.00% 16.0 14.0 8.0 50.00% 12.0 10.4 6.0 40.00% 10.0 6.0 32.3% 31.7% 9.0 8.0 4.0 30.00% 1.9 6.0 0.8 2.0 4.0 20.00% 4.0 2.7 6.5 6.7 5.9 5.5 5.6 7.0% 2.0 0.0 10.00% Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 0.0 -0.3 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 -2.0 0.00% -2.0 Continuing earn
Slide 17: Taaleri Q1 2024
100.0 60.0 80.00% 90.0 Growth in continuing earnings 4.3% LTM Growth in operating profit 33.4% LTM 57.8% 70.00% 80.0 50.0 70.0 53.8% 60.00% 40.0 48.0% 49.7% 48.1% 60.0 37.9 50.00% 33.8 24.3 26.5 50.0 23.7 30.0 40.00% 40.0 44.8 30.00% 30.0 20.0 39.9 29.9 32.2 31.9 20.00% 20.0 38.7 39.6 40.6 39.9 40.3
Slide 18: Taaleri Q1 2024
70.0 Growth in continuing earnings 15.7% LTM 40.0 Growth in income -9.2% LTM 70.00% 60.0 35.0 52.2% 60.00% 50.0 30.0 47.9% 42.0% 50.00% 40.0 25.0 35.2% 36.9% 40.00% 30.6 25.2 18.0 19.1 20.0 30.0 21.1 30.00% 15.0 27.5 20.0 23.2 20.00% 10.0 17.8 16.2 22.2 23.3 24.4 24.7 14.9 10.0 21.4 10.00% 5.0 0.0 0
Slide 19: Taaleri Q1 2024
31.12.2023: €32.3 million 31.12.2023: €160.6 million 31.12.2023: €307.9 million 31.12.2023: €208.6 million Other assets Cash and cash equivalents Garantia’s investment portfolio 31.12.2023: €26.4 million 31.12.2023: €38.3 million Private Asset Management segment’s direct investments Non-strategic in
Slide 20: Summary
TAALERI summary TAALERI
Slide 21: Continuing earnings grew to EUR 10.3 million
The Group’s continuing earnings grew to In addition, the focus of renewable The business continued supporting the EUR 10.3 million, mainly driven by the energy business was on the active growth and profitability of the portfolio Private Asset Management segment. development of the fund’s project com
Slide 22: Outlook for 2024
Private Asset Management • Continuing earnings from the renewable energy business are expected to develop positively during the financial year 2024. The operating profit for 2024 will depend on the revision of the estimated performance fees of the exit-phase funds Taaleri Wind II and Taaleri Wind II
Slide 23: Taaleri Q1 2024
Taaleri Q1 2024
Slide 24: The Interim Statement is found on our website
The Interim Statement is found on our website Further information: CFO Ilkka Laurila, +358 40 076 1360, ilkka.laurila@taaleri.com
Slide 25: Attachments
TAALERI Attachments
Slide 26: Balance sheet items and investments
Receivables from credit institutions 55,394 38,302 Cash at bank at the end of March EUR 55.4 Receivables from the public and general government 7,118 5,142 million. In April, a dividend of EUR 28.0 Shares and units 39,932 38,708 million was paid to owners of the parent Participating interests 13,293
Slide 27: Segment income and operating profit Q1 2024
Continuing earnings 5,894 4,567 1,327 3,913 474 10,281 Performance fees - - - - - - Investment operations 794 771 24 5,374 595 6,764 Income* 6,688 5,337 1,351 9,287 1,069 17,044 Fee and commission expense -1,485 -1,062 -423 - -15 -1,500 Personnel costs -2,859 -1,651 -1,207 -192 -821 -3,871 Direct ex
Slide 28: Segment income and operating profit Q1 2023
Continuing earnings 5,550 3,938 1,612 3,874 416 9,839 Performance fees - - - - - - Investment operations -339 -317 -22 255 -503 -587 Income* 5,210 3,620 1,590 4,128 -87 9,252 Fee and commission expense -1,535 -1,062 -474 - -25 -1,561 Personnel costs -2,933 -1,822 -1,111 -387 -990 -4,309 Direct expen
Slide 29: Taaleri funds and assets under management
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 Invested 6% Taaleri SolarWind II Feeder Fund Ky 2019 Feeder fund Renewable energy In