Future Outlook

Short-term risks and concerns

To change and grow in a changing market environment requires courage. The most significant external factors affecting the Group’s operating profit are changes in the operating and regulatory environment and the development of the financial market globally but especially in Finland.

The results of the Wealth Management and the Energy segments are influenced by the development of assets under management, which depends among other things on the progress of the private equity funds’ projects and the development of capital markets. The profit development is also influenced by the realization of performance fees, which are  tied to the success of our investment operations.  The Energy segment’s earnings are also affected by the success of its own investments in development-stage energy projects.

The Financing segment’s i.e. Garantia’s guaranty insurance business and investment activity, has a major impact on Taaleri’s operational income.

The Other operations segment’s returns consist of the market value changes in investments and of sales profits/losses gained in connection with exits. The returns and income of the Other operations segment may thus vary significantly between periods under review.

Long-term financial targets

Taaleri’s long-term operating profit target is at least 20 per cent of income, its long-term return on equity target is at least 15 per cent, and its long-term equity ratio target is at least 30 per cent. 

The company strives to increase the amount of dividend it distributes, and to annually distribute a competitive dividend, taking into account the company’s financial and financing situation as well as the Finnish Financial Supervisory’s capital adequacy requirement.

Financial Statements Bulletin 2018
Board of Directors' report and financial statements 2018