Slide 1: CEO Peter Ramsay, CFO Ilkka Laurila, 5 November 2024
CEO Peter Ramsay CFO Ilkka Laurila 5 November 2024
Slide 2: Taaleri Q3 2024
Q3 2023: €10.3 million Q3 2023: €13.1 million Q3 2023: €5.7 million 31.12.2023: €2.6 billion Growth in continuing earnings -1.5% Growth in income 5.2% Growth in operating profit 10.2% Q1–Q3 2023: 0.67 (LTM) (LTM) (LTM) 2 Taaleri Q3 2024
Slide 3: Taaleri Group's income amounted to EUR 21.6 million in the third quarter
Taaleri Group’s income amounted to EUR The renewable energy business continued We continued the value creation work in the 21.6 million in the third quarter, increasing by fundraising for Taaleri SolarWind III Fund. existing investments of the Taaleri 65% from the comparison period as a result In ad
Slide 4: Private Asset Management
TAALERI Private Asset Management
Slide 5: Renewable energy business continued fundraising for Taaleri SolarWind III Fund
Continuing earnings 5.0 5.1 -1.5% Performance fees - - - Investment operations 8.2 1.9 332.2% Income 13.2 7.0 89.7% Personnel costs -1.5 -1.9 -21.7% Other costs -2.0 -2.2 -11.2% Operating profit 9.7 2.8 245.0% FTE, at the end of the period 51 48 6.1% Assets under management, EUR billion 1.7 1.6 • Du
Slide 6: Bioindustry business focused on assessing new investments
Continuing earnings 1.2 1.4 -18.9% Performance fees - -0.0 n/a Investment operations 0.1 0.0 >100.0% Income 1.2 1.4 -13.8% Personnel costs -0.7 -0.7 6.1% Other costs -1.0 -0.8 15.7% Operating profit -0.5 -0.1 354.1% FTE, at the end of the period 37 34 9.5% Assets under management, EUR billion 1.0 1.
Slide 7: Operating environment: easing inflation and challenging fundraising
• As inflation has eased, central banks have shifted their tight monetary policy toward a more neutral stance, leading to declining interest rates. months • The fundraising environment for private capital remained challenging in the third quarter. Time spent 35 fundraising has increased. 30 • The re
Slide 8: Garantia
TAALERI (a ie knee ri EEL T | Garantia Sf
Slide 9: Garantia's insurance service result decreased 3.2 per cent
Insurance service result 3.4 3.6 -3.2% Net finance income and expense -0.2 -0.1 15.3% Other income 0.0 0.0 3.3% Net income from investment operations 3.5 0.7 >100.0% Income 6.8 4.1 64.6% Personnel costs -0.4 -0.3 74.7% Other costs 0.0 0.0 71.2% Operating profit 6.3 3.9 64.1% FTE, at the end of the p
Slide 10: Other
TAALERI Other
Slide 11: Continuing earnings in Other group consist of interest income
Continuing earnings 0.3 0.4 -33.7% Performance fees - - - Investment operations 0.2 0.2 -25.8% Income 0.4 0.6 -30.8% Personnel costs -0.9 -0.9 0.5% Other costs -0.3 -0.5 -34.3% Operating profit -0.9 -0.9 1.2% FTE, at the end of the period 20 18 11.0% Total 23.8 35.5 -33.1% Real estate development 15
Slide 12: Result and balance sheet
TAALERI Result and balance sheet
Slide 13: Taaleri Group's income amounted to EUR 21.6 million in the third quarter
Taaleri Group’s income amounted to EUR 21.6 million in the third quarter, increasing by 65% from the comparison period as a result of the recognition of the earn-out from the sale of the renewable energy project development portfolio in 2023. Continuing earnings fell by 6% to EUR 9.7 million. The op
Slide 14: Taaleri had a strong financial result in the third quarter
Taaleri had a strong financial result in the third quarter of the year EUR million 14.7 4,4 14 Taaleri Q3 2024
Slide 15: Stable income development from four different sources
Stable income development from four different sources EUR million 67.8 4,4 15 Taaleri Q3 2024
Slide 16: Continuing earnings are developing steadily
Continuing earnings are developing steadily 25.0 20.0 80.0 % 67.9% 70.0 % 20.0 15.0 56.2% 60.0 % 15.0 11.9 50.0 % 43.5% 7.8 6.8 38.9% 10.0 36.9% 40.0 % 2.8 1.8 10.0 14.7 30.0 % 5.0 9.6 20.0 % 5.0 10.3 9.9 10.3 10.1 9.7 6.9 5.7 10.0 % 4.4 0.0 0.0 0.0 % Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q3 2023
Slide 17: Continuing earnings are developing steadily
Continuing earnings are developing steadily 16.0 10.0 64.0% 70.00% 14.0 9.0 60.00% 12.0 8.0 7.0 50.00% 10.0 8.3 6.0 6.0 40.00% 8.0 32.3% 31.7% 1.9 5.0 9.2 0.8 0.4 30.00% 6.0 4.0 3.0 20.00% 4.0 6.5 6.7 6.1 6.1 2.0 4.0 5.9 7.0% 10.00% 2.0 2.7 4.8% 1.0 0.0 0.0 0.5 0.3 0.00% Q3 2023 Q4 2023 Q1 2024 Q2 2
Slide 18: Taaleri Q3 2024
100.0 60.0 80.00% 90.0 Growth in continuing earnings -1.5% LTM Growth in operating profit 10.2% LTM 70.00% 80.0 50.0 70.0 53.8% 60.00% 52.1% 40.0 49.7% 48.1% 60.0 44.4% 50.00% 33.8 24.3 26.5 28.3 50.0 19.2 30.0 40.00% 40.0 30.00% 30.0 20.0 39.9 35.5 32.2 31.9 20.00% 20.0 40.6 39.9 40.3 40.6 40.0 26.
Slide 19: Taaleri Q3 2024
70.0 Growth in continuing earnings 6.2% LTM 40.0 Growth in income -39.7% LTM 70.00% 60.0 35.0 60.00% 50.0 30.0 47.9% 50.00% 40.0 25.0 35.2% 36.9% 40.00% 34.9% 25.2 19.1 18.0 15.4 20.0 30.0 9.0 30.00% 15.0 21.9% 20.0 23.2 20.00% 10.0 24.4 24.7 25.1 24.8 14.9 16.2 10.0 23.3 14.0 5.0 10.00% 7.5 0.0 0.0
Slide 20: Taaleri redeemed the Tier 2 bond of EUR 15 million in October
After the end of the review period, Taaleri redeemed the Tier 2 bond of EUR 15 million in October. Furthermore, Taaleri agreed on a EUR 30 million three-year revolving credit facility agreement during the review period to strengthen its strategy. 31.12.2023: €32.3 million 31.12.2023: €160.6 million
Slide 21: Breakdown of Taaleri's own balance sheet investments
Breakdown of Taaleri's own balance sheet investments, the fair value of which exceeds one million euros at the balance sheet date Renewable energy investments Truscott Gilliland East Wind Shares and participations 10,973 10,025 7.0% Taaleri SolarWind II Shares and participations 2,731 3,331 0.9% Taa
Slide 22: Taaleri Q3 2024 fund overview
Taaleri Wind Fund II Ky 2014 Private equity fund Renewable energy 319 Invested Taaleri Wind Fund III Ky 2016 Private equity fund Renewable energy 52 Invested Taaleri SolarWind I Ky 2016 Private equity fund Renewable energy 169 Invested Taaleri SolarWind II Feeder Fund Ky 2019 Feeder fund Renewable e
Slide 23: Outlook
TAALERI Outlook
Slide 24: Continuing earnings from renewable energy expected to develop positively in 2024
• 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, among other things, the net income from the investment operations and the revision of the estimated performance fees of the exit-p
Slide 25: Taaleri Q3 2024
25 Taaleri Q3 2024
Slide 26: The Interim Statement is found on our website
The Interim Statement is found on our website Further information: Director, Investor Relations and Communications Linda Tierala, +358 40 571 7895, linda.tierala@taaleri.com
Slide 27: Attachments
TAALERI Attachments
Slide 28: Balance sheet items and investments
Receivables from credit institutions 29,275 38,302 Cash at bank at the end of September EUR Receivables from the public and general government 5,301 5,142 29.3 million. In April, a dividend of EUR 28.2 Shares and units 40,385 38,708 million was distributed to owners of the Participating interests 12
Slide 29: Segment income and operating profit Q3 2024
Continuing earnings 6,136 4,975 1,161 3,297 250 9,683 Performance fees - - - - - - Investment operations 8,282 8,210 72 3,486 160 11,928 Income* 14,418 13,184 1,233 6,783 410 21,611 Fee and commission expense -1,454 -1,072 -382 - -5 -1,458 Personnel costs -2,225 -1,484 -742 -447 -947 -3,620 Direct e
Slide 30: Segment income and operating profit Q3 2023
Continuing earnings 6,484 5,052 1,432 3,430 377 10,292 Performance fees -5 - -5 - - -5 Investment operations 1,903 1,899 3 692 216 2,810 Income* 8,382 6,951 1,431 4,122 593 13,098 Fee and commission expense -1,497 -1,024 -473 - -7 -1,504 Personnel costs -2,593 -1,894 -699 -256 -942 -3,791 Direct exp