TAALERI PLC STOCK EXCHANGE RELEASE 19 DECEMBER 2018 AT 13.00 EET
Taaleri estimates that the operating profit percentage for 2018 will remain at the same level as in 2017
Taaleri Plc’s Board of Directors has today 19 December 2018 decided that its holding, 25.95%, in the associated company Fellow Finance Corporation is for sale. And hence the ownership will be recorded in Taaleri’s balance sheet at fair value of the Fellow Fund's share. According to IFRS, Taaleri will hence book approximately EUR 10 million profit in the second half of 2018.
Taaleri Investments Ltd will record a loss of approximately EUR 3 million, booked in Taaleri Groups results 2018, as the Company’s geothermal electricity production project failed. One production well was drilled, and tests have proven that the project is not commercially viable and Taaleri has hence decided to discontinue the project. Taaleri does not have any other geothermal projects.
Taaleri estimates that the operating profit percentage for 2018 will remain at the same level as in 2017. Taaleri’s long-term financial targets remain unchanged.
CEO, Juhani Elomaa, Taaleri Plc, tel. 358 40 778 9020, firstname.lastname@example.org
Head of Group Communications and IR, Sophie Jolly, Taaleri Plc, tel. 358 40 828 7317, email@example.com
Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy Group and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, Ficolo Oy developing data centers, and Turun Toriparkki Oy and Munkkiniemi Group Oy that are real estate project companies.
At the end of June 2018, Taaleri had assets under management totalling EUR 6.0 billion and 4,600 asset management customers. Taaleri Plc has some 4,100 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
More information about our company and services:
Sophie Jolly, Head of Communications and IR, firstname.lastname@example.org, tel. 358 40 828 7317