Helsinki, 2017-10-11 08:00 CEST (GLOBE NEWSWIRE) --
TAALERI PLC STOCK EXCHANGE RELEASE 11 OCTOBER 2017 AT 9:00 EET
Taaleri raises its full-year profit forecast
Taaleri Plc adjusts its estimate of the operating profit of the year 2017 upwards. Taaleri Group’s operating profit is estimated to exceed 30 per cent of income in 2017. According to the previous profit guidance, the full-year operating profit margin was estimated to be over 25 per cent. In January–June, Taaleri Group’s operating profit was approximately 40 per cent of income.
“One factor improving the result is the deal just signed to sell the forest areas of our first forest fund. Development in Wealth Management has also been strong in other ways. The successful private equity funds and strong development of mutual funds have increased wealth management returns,” says Taaleri Plc CEO Juhani Elomaa.
Taaleri provides its guidance based on the financial targets approved by Taaleri Plc’s Board of Directors In addition to the operating profit target, the other key figures describing the financial targets are: equity ratio of over 30 per cent, and return on equity in the long term of over 15 per cent. Segment-specific financial targets related to growth are growth of more than 15 per cent per annum in assets under management for the Wealth Management segment and growth of more than 15 per cent per annum in gross premiums written for the Financing segment.
Juhani Elomaa, CEO, tel. 358 40 778 9020
Minna Smedsten, CFO, tel. 358 40 700 1738
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 and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and market information for investors.
At the end of June 2017, Taaleri had assets under management totaling 5.3 billion euro and 4,300 wealth management customers. Taaleri Plc has some 3,200 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.
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Taneli Hassinen, Head of Communications and IR, tel. 358 40 504 3321, email@example.com