Taaleri Plc · OMXHEX:TAALA
Taaleri — Q3 2021 Earnings Presentation
31 slides from Taaleri's earnings presentation, Nov 5, 2021
Slide 1: Taaleri Q3 2021 Interim Statement
CEO Karri Haaparinne CFO Minna Smedsten 5 November 2021
Slide 2: IFRS 5 reporting notes on sale of wealth management
• 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 recognition of sale of the wealth management operations. • Th
Slide 3: CEO change announcement
On 25 October 2021, Taaleri Plc announced that the Group’s CEO Robin Lindahl had left his post and the Board of Directors has appointed Peter Ramsay, M.Sc. (Econ.), as the new CEO as of 1 December 2021. Lindahl left the company’s operational management immediately. As of 25 October, Karri Haaparinne
Slide 4: After the major strategic changes in early 2021, we focused on our core business
After the major strategic changes in The operation and construction The sale of the fund completed very early 2021, we focused on our core projects of the fund proceeded successfully in July for the purchase business and advancing our according to plan in the third price of approximately EUR 145 str
Slide 5: Q3 2021 income and earnings highlights
• The income according to the segment reporting grew by 0.9% to EUR 12.3 (12.2) million. • Continuing earnings grew by 4.2% to EUR 9.2 (8.8) million. • Performance fees were EUR 0.0 (0.1) million and investment operations generated EUR 3.1 (3.3) million. • According to segment reporting, operating p
Slide 6: Continuing earnings and operating profit by quarter
18.0 7.0 45.00% 16.0 40.7% 37.1% 37.4% 37.3% 40.00% 6.0 30.9% 14.0 5.8 3.2 35.00% 12.0 5.0 Pitkän aikavälin tavoite, 4.8 30.00% liikevoitto yli 25 % 3.3 3.1 10.0 4.0 Long term 25.00% target >25% 8.0 3.0 20.00% 5.8 6.0 5.0 5.1 11.2 4.4 4.6 15.00% 9.8 9.2 2.0 4.0 8.8 8.9 10.00% 2.0 1.0 5.00% 0.0 0.0 0
Slide 7: Group's Q3 operating profit was EUR 4.6 million
Group’s O3 operating profit was EUR 4.6 million, corresponding to 37.3% of income 12.0 0.5 3.1 as 10.0 8.0 3.9 -3.6 a. -0.3 6.0 4.6 40 22 3.2 0.0 2.0 0.0 Net continuing Net Net income from Net investment. Other income Personnel costs Interest expense, Other expenses: Operating profit earnings of per
Slide 8: Private Asset Management
TAALERI vate Asset anagement
Slide 9: Renewable energy business
• The renewable energy business focused on the Taaleri SolarWind II fund’s existing investments as well as the development of projects. Projects in the construction phase of the fund in Finland, Norway, Poland and the United States proceeded as planned. • In addition, the renewable energy business a
Slide 10: Real estate, bioindustry and infrastructure businesses
• In July, the real estate business very successfully completed the sale of Taaleri Housing Fund VI for the purchase price of approximately EUR 145 million. The fund clearly exceeded its profit target and almost doubled the capital invested by its investors. The performance fee will be fully recogni
Slide 11: Private Asset Management earnings and operating profit
8.0 2.5 7.0 1.9 2.0 6.0 1.7 1.5 5.0 0.8 1.0 1.0 4.0 0.5 3.0 0.5 5.3 5.6 4.6 4.8 2.0 4.2 0.0 -0.1 1.0 -0.5 -0.3 -0.5 -0.7 0.0 -1.0 -0.8 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 -1.0 Continuing earnings Other than continuing earnings Operating profit Q3 2021 oper
Slide 12: Assets under management of Private Asset Management
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. 2,500 2% 2,110 160 8% 2,000 42 1,500 778 37% 53% 1,000 1,130 500 0 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3
Slide 13: Funds managed by Taaleri
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 14: Strategic Investments
TAALERI Strategic Investments
Slide 15: Garantia: solvency ratio strengthened to 248%
• Earned premiums remained at comparison period’s level and amounted to EUR 4.0 million. 70 • The sale of new residential mortgage guarantees continued to grow as a 64% 60% result of an expanded distribution channel and a buoyant housing market. 60 55% • Net income from investment operations was EUR
Slide 16: Taaleri
TAALERI
Slide 17: Other group
• 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 1.4 (0.7) million, consisting of continuing earnings of EUR 0.5 (0.4) million and earnings
Slide 18: Result, balance sheet and capital adequacy
TAALERI Result, balance sheet and capital adequacy
Slide 19: Q3 2021 income statement by segment
Continuing earnings 4,846 3,578 1,267 3,909 456 9,210 Performance fees - - - - - - Investment operations -537 -4 -533 2,651 977 3,092 Income* 4,309 3,574 735 6,560 1,433 12,302 Fee and commission expense -1,598 -1,016 -583 -100 -121 -1,820 Personnel costs -1,985 -1,220 -765 -905 -720 -3,610 Direct e
Slide 20: Group income statement and operating profit
Continuing earnings 9,210 8,842 4.2% 29,276 26,051 12.4% 35,885 Performance fees - 55 -100.0% 811 75 >100.0% 985 Investment operations 3,092 3,291 -6.1% 10,221 -1,758 n/a 3,169 Income* 12,302 12,188 0.9% 40,307 24,368 65.4% 40,038 Fee and commission expense -1,820 -1,822 -0.1% -5,546 -5,858 -5.3% -8
Slide 21: Key figures
Earnings key figures Continuing earnings, MEUR 9.2 8.8 4.2% 29.3 26.1 12.4% 35.9 >15.0% Income, MEUR 12.3 12.2 0.9% 40.3 24.4 65.4% 40.0 Operating profit, MEUR 4,.6 5.0 -7.6% 14.1 3.3 >100% 9.1 Operating profit, % 37.3% 40.7% 35.0% 13.5% 22.8% >25.0% Profit for the period in consolidated income stat
Slide 22: Balance sheet
Receivables from credit instutions 74,368 25,786 Receivables from the public and general government 5,491 6,699 Debt securities - 1,498 Shares and units 39,425 21,971 Shares of Aktia Bank Plc Assets classified as held for sale 5,080 5,357 EUR 11.3 million Participating interests 8,666 9,248 Insuranc
Slide 23: Conglomerate capital adequacy
Shareholders’ equity of the Taaleri Group 219,940 133,209 On 29 October 2021, the Finnish Financial Supervisory Authority Goodwill and other intangible assets -1,016 -6,778 decided that Taaleri Group is no Non-controlling interests 769 1,134 longer covered by the Act on the Dividend for 2020 - -9,07
Slide 24: Summary
TAALERI Summary
Slide 25: Summary of Q3 2021
• After the major strategic changes in early 2021, we focused on our core business and advancing our strategy in the third quarter. • Taaleri’s continuing earnings grew by 4% and operating profit was 37.3% of income. • Renewable energy business focused on projects in the construction phase and proje
Slide 26: Outlook and next steps
• Renewable energy business will continue to make new investments in Taaleri SolarWind II fund. • The real estate business focuses mainly on transaction activities to grow the real estate funds in investment phase. • The bioindustry business continues to prepare its first private equity fund towards
Slide 27: Further information
The Interim Statement is found on our website Further information: Head of Communications and IR Siri Markula, siri.markula@taaleri.com, +358 40 743 2177
Slide 28: Attachments
TAALERI achments
Slide 29: Q3 2020 segment income statement
Continuing earnings 4,561 3,507 1,054 3,914 367 8,842 Performance fees 55 55 - - - 55 Investment operations 752 750 2 2,200 338 3,291 Income* 5,368 4,312 1,056 6,115 706 12,188 Fee and commission expense -1,761 -1,102 -659 - -61 -1,822 Personnel costs -1,772 -1,518 -254 -742 -863 -3,377 Direct expen
Slide 30: Q1-Q3 2021 segment income statement
Continuing earnings 14,706 11,081 3,625 12,074 2,496 29,276 Performance fees 811 797 14 - - 811 Investment operations -703 -9 -694 8,795 2,129 10,221 Income* 14,814 11,869 2,945 20,869 4,625 40,307 Fee and commission expense -5,148 -3,147 -2,001 -100 -299 -5,546 Personnel costs -6,505 -4,360 -2,145
Slide 31: Q1-Q3 2020 segment income statement
Continuing earnings 13,242 10,165 3,077 10,848 1,961 26,051 Performance fees 75 55 20 - - 75 Investment operations 1,640 1,642 -2 -1,170 -2,227 -1,758 Income* 14,956 11,862 3,094 9,678 -267 24,368 Fee and commission expense -5,131 -3,133 -1,998 - -727 -5,858 Personnel costs -3,899 -3,158 -741 -1,793