The most significant external factors affecting the Group’s operating profit are changes in the operating environment and changes in the financial situation in Finland.
The result of the Wealth Management- and the Energy segments are influenced by the development of assets under management, which depends on the progress of the private equity funds’ projects and the development of private equity markets. The profit development is also influenced by the realisation of performance fee and commission income tied to the success of investment operations. On the other hand, private equity fund management fees are based on long-term contracts that bring in a steady cash flow.
Financing’s i.e. Gararantia’s guaranty insurance business and investment activity have a major impact on Taaleri’s business income.
The Other operations segment’s returns consist of the changes in the value of investments and of sales profits/losses gained in connection with investment sales. The returns and income of the Other operations segment may thus vary significantly between periods under review.
Taaleri’s long-term operating profit target is at least 20 per cent of income, its long-term return on equity 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 competi-tive dividend, taking into account the company’s financial and financing situation as well as the expiration of the special permission by the Finnish Financial Supervisory Authority regarding the capital adequacy requirement.