Taaleri’s long-term financial targets are: continuing earnings growth of at least 15 per cent, operating profit target of at least 20 per cent of income, return-on-equity of at least 15 per cent, and its equity ratio target of at least 30 per cent.

The company strives to increase the amount of dividend it distributes and to annually distribute a competitive dividend, with consideration to the company’s financial and financing situation as well as the Group’s capital adequacy requirement.

outlook

Short-term risks and concerns

The coronavirus pandemic will continue to cause uncertainty in 2021. However, the global economy is likely to recover as coronavirus vaccinations progress and the restrictive measures in the global economy can be lifted. The most significant external uncertainties affecting the Group’s operating profit are changes in the operating and regulatory environment and the development of the financial markets globally and 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 private equity fund projects and the development of capital markets. Profit development is also influenced by the realization of performance fees, which are tied to the success of the investment operations.

The Energy segment’s earnings are also affected by the success of its own investments in energy projects.

The Insurance segment’s guaranty insurance business and investment activities have a major impact on Taaleri’s operational income and capital adequacy.

The Other operations returns consist of the market value changes in investments and of sales profits/losses gained as well as returns of loans granted. The earnings and results of the Other operations may thus vary significantly between periods under review.