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Taaleri is an enabler of responsible ownership

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About Taaleri

CEO's Review

Juhani Elomaa, CEO

Our company’s result remained at a good level also in 2018. Taaleri’s operating margin in 2018 was 33%, and earnings per share EUR 0.76, both at last year’s level. Income slightly declined, mainly due to the weak equity and bond market during the second half of the year, and totalled EUR 72.5 million. The operating profit of the Wealth Management segment remained at last year’s level, EUR 16.8 million, and the operating profit margin strengthened to 35 per cent. The improved operating profit was due mainly to lower variable personnel costs.

Strategic and financial targets

Strategic targets

Strong but controlled growth and increasing profitability.

  • Growth in assets under management and clientele
  • Profitable growth in insurance premiums
  • Strong growth in investments in energy projects

Long-term financial targets

  • > 20% operating profit margin
  • > 15% ROE
  • > 30% equity ratio

Values and Personnel

One success factor of the Taaleri Group is the strong business culture built on our values – understanding the customer, entrepreneurship, mutual respect and ethicalness. Year after year, the strengths highlighted in personnel surveys include team spirit as well as pride in one’s work and in shared accomplishments. We are building our growth on this foundation.

Organization

Taaleri manages its business through three segments: Wealth Management, Financing, and Energia. Operations that do not belong to the segments are presented in “Other operations”.

Wealth Management

Insightful investment opportunities – a diversified wealth management partner.

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Financing

Our solutions help our customers to promote sales, secure financing and improve capital efficiency.

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Energia

Accelerating the energy transition by investing in renewable energy.

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Other operations

Own investments
Portfolio investments
Co-investments

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Corporate Responsibility

Corporate Responsibility

We all have the duty to operate responsibly and we believe that responsible operations advance business success and long-term shareholder value.

At Taaleri we have high ethical standards and are committed to acting in a sustainable, ethical and socially responsible manner. Environmental, Social and Governance (ESG) matters are an integral part of the company's strategy, and encompass

  • Fair and legal behaviour
  • Economic responsibility to shareholders
  • Responsibility to minimise and manage environmental impacts
  • Responsibility towards employees
  • Responsibility to the wider community

We understand that evolving legislation, climate change, and other factors can change the long-term risk and returns profile, and therefore we are continuously developing our business. Additionally, we want to promote solutions that tackle the key challenges of our time, e.g. in renewable energy production. We want people, communities, the environment, and our assets to be safe also in the future.

Financial development

Key figures in 2018

IncomeMEUR
Operating profitMEUR
Operating profit, %
Return on equity
Group's capital adequacy ratio
Earnings/shareEUR
Market capitalizationMEUR (end of 2018)
Assets under managementBEUR
Insurance exposureBEUR
Financial Statements

Taaleri's Financial Statements 2018

Our company’s result remained at a good level also in 2018. Wealth Management had good profitability and continuous investments grew. In Financing, premiums written grew and combined ratio improved further. In addition, Energia developed well.

Year 2008 was eventful: we made investments in a Texas wind power project and real-estate investments in Finland, we acquired the capital stock of robo-advisor Evervest Oy, arranged the financing of the Keilaniemi tower building in Espoo, Finland, and launched ”Tallikiinteistöt”, a real-estate private equity fund. Garantia started collaboration with the Savings Banks Group, and launched a multi-issuer bond. In addition, our associated company Fellow Finance was listed.

Dividend proposal

We strive to increase the amount of dividend distributed 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.

  • The dividend is paid on a yearly basis
  • The proposed dividend for year 2018 is EUR 0.30 per share
  • The dividend payment date is 29 March 2019

The dividend will be paid to shareholders who are registered in the list of shareholders maintained by Euroclear Finland Ltd on the record date, which is 22 March 2019.

Outlook

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.

Taaleri’s share TAALA on Nasdaq Helsinki

Shareholders by sector, 31 December 2018

Share trading 1 January – 31 December 2018

No. of shares traded2,247,398
Total value, EUR21,779,481.00
High, EUR11.80
Low, EUR7.08
Average*, EUR9.69
Last, EUR7.10
* Volume weighted average

Read more from the Financal Statements

You will find more information from the Financial Statements' PDF-version under the following headings: Shares, Share holders and Share capital, Capital adequacy, Board authorizations and Risk management