Taaleri changes its segment reporting and publishes comparative financial information for segments for 2023
TAALERI PLC STOCK EXCHANGE RELEASE 7 AUGUST 2024 AT 12:30 p.m. (EEST)
Taaleri changes its segment reporting and publishes comparative financial information for segments for 2023
Taaleri Plc has changed its segment reporting as of 1 April 2024. As of this date, the Group's continuing operations will include two reported segments: Private Asset Management, which is divided into Renewable energy and Other private asset management, and Garantia, which includes Garantia Insurance Company. Previously, the Group's reported segments were Private Asset Management and Strategic Investments. The group Other presents the Group's non-strategic investments, Taaleri Kapitaali and Group functions not included in the business segments.
The change in segment reporting is a consequence of Taaleri Plc’s sale of 150,000 Aktia Bank Plc shares during the period 1 April–30 June 2024. As of 30 June 2024, Taaleri still held 824,563 shares in Aktia Bank Plc, which will be reported as of 1 April 2024 under the group Other. Taaleri received shares in Aktia Bank Plc on 30 April 2021 as part of the consideration for the sale of its wealth management business to Aktia Bank Plc.
Taaleri will publish its Half-Year Financial Report for the period 1 January–30 June 2024 on Tuesday, 20 August 2024 at approximately 8:00 a.m. EEST using the new reporting structure.
Taaleri publishes comparative financial information and information in accordance with the new reporting structure for the financial year 2023 and the period 1 January–31 March 2024. The comparative information includes income and operating profit by quarter. The comparative information is unaudited.
FY 2023
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 39,872 | 24,374 | 18,132 | 6,242 | 13,572 | 1,926 |
Performance fees | 1,489 | 1,489 | - | 1,489 | - | - |
Investment operations | 24,979 | 16,471 | 17,226 | -755 | 4,738 | 3,770 |
Income | 66,340 | 42,335 | 35,359 | 6,976 | 18,310 | 5,695 |
Fee and commission expense | -6,576 | -6,495 | -4,226 | -2,269 | - | -81 |
Personnel costs | -16,140 | -11,634 | -7,647 | -3,987 | -1,422 | -3,084 |
Other administrative expenses | -11,157 | -8,694 | -6,644 | -2,050 | -62 | -2,401 |
Depreciation, amortisation, and impairment | 25 | -29 | 45 | -74 | - | 54 |
Impairment losses on loans | -607 | -565 | -565 | - | - | -41 |
Operating profit | 31,885 | 14,918 | 16,322 | -1,404 | 16,826 | 142 |
Operating profit, % | 48.1% | 35.2% | 46.2 % | neg | 91.9% | 2.5% |
Q1 2023
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 9,839 | 5,550 | 3,938 | 1,612 | 3,874 | 416 |
Performance fees | - | - | - | - | - | - |
Investment operations | -587 | -339 | -317 | -22 | 908 | -1,156 |
Income | 9,252 | 5,210 | 3,620 | 1,590 | 4,781 | -740 |
Fee and commission expense | -1,561 | -1,535 | -1,062 | -474 | - | -25 |
Personnel costs | -4,309 | -2,933 | -1,822 | -1,111 | -387 | -990 |
Other administrative expenses | -1,809 | -1,530 | -1,031 | -498 | -16 | -263 |
Depreciation, amortisation, and impairment | -13 | -10 | -6 | -4 | - | -3 |
Impairment losses on loans | -3 | - | - | - | - | -3 |
Operating profit | 1,557 | -798 | -300 | -498 | 4,379 | -2,024 |
Operating profit, % | 16.8% | neg | neg | neg | 91.6% | neg |
Q2 2023
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 9,860 | 5,643 | 3,976 | 1,667 | 3,491 | 727 |
Performance fees | 1,494 | 1,494 | - | 1,494 | - | - |
Investment operations | 14,955 | 8,951 | 8,943 | 8 | 1,707 | 4,296 |
Income | 26,308 | 16,088 | 12,919 | 3,169 | 5,197 | 5,023 |
Fee and commission expense | -1,854 | -1,847 | -1,057 | -790 | - | -7 |
Personnel costs | -3,956 | -3,268 | -2,399 | -868 | -265 | -423 |
Other administrative expenses | -2,680 | -1,968 | -1,361 | -608 | -11 | -701 |
Depreciation, amortisation, and impairment | -31 | -9 | -5 | -4 | - | -22 |
Impairment losses on loans | -33 | - | - | - | - | -33 |
Operating profit | 17,754 | 8,996 | 8,097 | 899 | 4,921 | 3,837 |
Operating profit, % | 67.5% | 55.9% | 62.7% | 28.4% | 94.7% | 76.4% |
Q3 2023
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 10,292 | 6,484 | 5,052 | 1,432 | 3,430 | 377 |
Performance fees | -5 | -5 | - | -5 | - | - |
Investment operations | 2,810 | 1,903 | 1,899 | 3 | 692 | 216 |
Income | 13,098 | 8,382 | 6,951 | 1,431 | 4,122 | 593 |
Fee and commission expense | -1,504 | -1,497 | -1,024 | -473 | - | -7 |
Personnel costs | -3,791 | -2,593 | -1,894 | -699 | -256 | -942 |
Other administrative expenses | -2,214 | -1,624 | -1,302 | -322 | -15 | -574 |
Depreciation, amortisation, and impairment | 107 | 42 | 84 | -42 | - | 66 |
Impairment losses on loans | -3 | - | - | - | - | -3 |
Operating profit | 5,693 | 2,710 | 2,815 | -105 | 3,851 | -868 |
Operating profit, % | 43.5% | 32.3% | 40.5% | neg | 93.4% | neg |
Q4 2023
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 9,881 | 6,698 | 5,167 | 1,531 | 2,777 | 406 |
Performance fees | - | - | - | - | - | - |
Investment operations | 7,801 | 5,957 | 6,701 | -744 | 1,431 | 413 |
Income | 17,682 | 12,655 | 11,868 | 787 | 4,209 | 819 |
Fee and commission expense | -1,658 | -1,616 | -1,083 | -533 | - | -42 |
Personnel costs | -4,084 | -2,840 | -1,532 | -1,308 | -514 | -729 |
Other administrative expenses | -4,454 | -3,572 | -2,950 | -622 | -20 | -862 |
Depreciation, amortisation, and impairment | -38 | -51 | -28 | -23 | - | 13 |
Impairment losses on loans | -567 | -565 | -565 | - | - | -2 |
Operating profit | 6,882 | 4,010 | 5,710 | -1,700 | 3,675 | -803 |
Operating profit, % | 38.9% | 31.7% | 48.1% | neg | 87.3% | neg |
Q1 2024
| Group total | Private Asset Management
| Renewable energy
| Other private asset management | Garantia | Other |
Continuing earnings | 10,281 | 5,894 | 4,567 | 1,327 | 3,913 | 474 |
Performance fees | - | - | - | - | - | - |
Investment operations | 6,764 | 794 | 771 | 24 | 4,789 | 1,180 |
Income | 17,044 | 6,688 | 5,337 | 1,351 | 8,702 | 1,654 |
Fee and commission expense | -1,500 | -1,485 | -1,062 | -423 | - | -15 |
Personnel costs | -3,871 | -2,859 | -1,651 | -1,207 | -192 | -821 |
Other administrative expenses | -2,181 | -1,824 | -1,233 | -591 | -25 | -333 |
Depreciation, amortisation, and impairment | -54 | -53 | -28 | -26 | - | - |
Impairment losses on loans | 147 | - | - | - | - | 147 |
Operating profit | 9,585 | 467 | 1,364 | -897 | 8,486 | 632 |
Operating profit, % | 56.2% | 7.0% | 25.5% | neg | 97.5% | 38.2% |
Taaleri Plc
Communications
Further information:
Ilkka Laurila, CFO, +358 40 076 1360, ilkka.laurila@taaleri.com
Distribution:
Nasdaq Helsinki
Principal media
www.taaleri.com
Taaleri in brief
Taaleri is a Nordic investment and asset manager that focuses on businesses with industrial-scale opportunities within bioindustry and renewable energy. We create value by combining extensive know-how, deep expertise, entrepreneurship and capital through both funds under management and direct investments. We have been a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010, and we joined the Net Zero Asset Managers initiative in 2021. Taaleri’s vision is to become a leading investment manager operating internationally in bioindustry and renewable energy.
Taaleri has EUR 2.6 bn of assets under management in its private equity funds and co-investments. The company has approximately 125 employees. Taaleri Plc is listed on Nasdaq Helsinki.
Head of Investor Relations and Communications Linda Tierala, +358 40 571 7895, linda.tierala@taaleri.com