TAALERI PLC INSIDE INFORMATION 1 DECEMBER 2021 AT 13:10 (EET)
Taaleri issues a positive profit warning and provides a preliminary estimate on its income and operating profit for the financial year 2021
Taaleri Plc issues a positive profit warning for the financial year 2021 due to the stronger-than-expected profit growth during the last quarter.
The result for the last quarter of the current year is very strong, especially due to performance fees and income recognition of investments. At this stage, Taaleri estimates that the income of continuing operations for the financial year 2021 will be EUR 65–70 million (2020: EUR 40.0 million) and the operating profit of continuing operations will be approximately EUR 25–30 million (2020: EUR 9.1 million). The final figures will be particularly affected by Garantia Insurance Company Ltd's investment income, which is affected by the development of the stock and fixed income markets during December.
During the current quarter, Taaleri will recognize income from e.g. the sale of Taaleri Housing Fund VI in the summer (net performance fee approximately EUR 3.9 million) and from the Taaleri Wind II fund due to its refinancing in October (net performance fee approximately EUR 4.8 million). In addition, Taaleri will recognize income from exits or listings of Group's investments (approximately EUR 3–4 million).
Taaleri does not publish a short-term outlook.
The company’s targets related to growth, profitability and return on invested capital are: continuing earnings growth at least 15 per cent, operating profit at least 25 per cent of income and return on equity at least 15 per cent.
Taaleri in brief
Taaleri is a Nordic investment and asset manager with an emphasis on renewable energy and other alternative investments. We channel capital towards economically profitable undertakings that have a lasting positive impact on the environment and society. We are a signatory of the UN Principles for Responsible Investment (UNPRI) since 2010. Taaleri’s vision is to be a Nordic forerunner in alternative investments focusing on sustainability.
Taaleri has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate, bioindustry and infrastructure businesses. The Strategic Investments segment includes Garantia Insurance Company Ltd.
Taaleri has EUR 2.1 bn of assets under management in its private equity funds and co-investments. The company has approximately 120 employees. Taaleri Plc is listed on Nasdaq Helsinki.
Siri Markula, Head of Communications and IR, tel. +358 40 743 2177, firstname.lastname@example.org