Taaleri records a profit of 8.3 MEUR from the sale of a project portfolio
Translation: Original comment published in Finnish on 9/27/2024 at 8:23 am EEST
Taaleri announced that it records a profit of 8.3 MEUR following an earn-out from the sale of a renewable energy project development portfolio to the SolarWind 3 fund, which it manages. The transaction was originally announced in July last year, and Taaleri recorded a sales gain of 8 MEUR at that time. At the same time, the company announced the possibility of an additional consideration of some 9 MEUR if certain conditions are met. Taaleri now considers the realization of the additional consideration likely and records this in the Q3/24 result
Positive impact on our estimates
In our own forecasts, we had included an additional consideration of 5 MEUR to include this earnings-related uncertainty. We had also expected Taaleri to record the additional consideration only in 2025. Therefore, this release has a positive impact on our 2024 earnings forecast by the amount of the additional consideration. Of this, 5 MEUR will be transferred directly from next year’s earnings forecast, so in total the positive impact of the additional consideration is approximately 3 MEUR on our earnings forecast for this and next year. We include this in our forecasts at the latest in connection with the Q3 earnings preview. However, we would point out that this is a one-off item with a rather moderate impact on the value of the company.
Taaleri
Taaleri operates in the financial sector. The company is a Nordic private equity fund company that focuses on renewable energy and other alternative investments. The company has two business segments: Equity Funds and Strategic Investments. With its capital funds, Taaleri creates, for example, wind and solar power, biofuels and real estate. The company was founded in 2007 and its head office is located in Helsinki, Finland.
Read more on company pageKey Estimate Figures21/08
2023 | 24e | 25e | |
---|---|---|---|
Revenue | 65.6 | 66.2 | 67.2 |
growth-% | 3.82 % | 0.85 % | 1.50 % |
EBIT (adj.) | 31.9 | 34.6 | 35.2 |
EBIT-% (adj.) | 48.58 % | 52.32 % | 52.40 % |
EPS (adj.) | 0.81 | 0.84 | 0.82 |
Dividend | 1.00 | 0.52 | 0.54 |
Dividend % | 11.12 % | 6.24 % | 6.47 % |
P/E (adj.) | 11.09 | 9.98 | 10.13 |
EV/EBITDA | 7.13 | 6.72 | 6.20 |