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Annual Summary 2020 – Feel Our ImpactAnnual Summary 2020 – Feel Our Impact

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For us, responsibility means making an impact and taking responsibility through our actions. Our goal is to promote sustainability by implementing financially profitable projects with significant social or environmental benefit. We are a front-runner in impact investing.

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CEO’S GREETING

Robin Lindahl, CEO of Taaler Plc

We can be satisfied with Taaleri’s year in a challenging operating environment. The Group’s income in-creased slightly to EUR 69.5 million, and operating profit increased to EUR 17.6 million. I would like to warmly thank our staff for their committed and hard work and our customers for their trust in us during these exceptional times. Our digital wealth management service, launched in summer 2020 and specialising in impact investment, has been well received by existing and new customers. The service offers all investors the opportunity to invest in new projects benefiting the environment and society through a wide-spread ETF portfolio and direct investments in funds.

Robin Lindahl
CEO
Taaleri Plc

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Finland’s best wealth management

The goal of Taaleri Wealth Management’s visionary investment activities is to offer clients financial returns and the opportunity to have a positive environmental and social impact. Our digital wealth management service, launched in summer 2020 and specialising in impact investment, offers all investors the opportunity to invest in new projects benefiting the environment and society. In 2020, in the SFR survey, institutional investors chose our wealth management as the best in Finland in the challenger category. Particularly, investors appreciated our customer service, vision and resources.

46.7
Income, MEUR
7.1
Assets under management, BEUR

Case

Taaleri Vuokrakoti

The Taaleri Vuokrakoti fund will alleviate the housing shortage in growth centers. At the same time, it will diversify and increase the supply of affordable housing in Finland's growth centers. The fund serves as a natural way for many Finnish non-profit institutions to invest their assets with moderate risk and return, and at the same time promotes the solution of socially important issues.

Financially sound and profitable guarantee activities

The Insurance segment includes Garantia Insurance Company Ltd., an insurance company specializing in guaranty insurance. The objective of Garantia is to modernize collateral practices and provide customers with easy and cost-effective guaranty solutions and new business opportunities through digital channels.Business responsibility is based particularly on taking into account the needs of the different parties in the housing markets and on securing investments. In 2020, our solvency remained strong, and S&P confirmed our credit rating of A- with stable outlook.

1.8
Insurance portfolio, BEUR
36.7
Combined ratio, %

Case

A rental guarantee is a responsible solution

Garantia’s guarantee products create added value in the rental housing market where the trend is to waive security deposits. A rental guarantee makes it possible to rent an apartment without a security deposit, thereby supporting the tenant’s finances and increasing economic equality. The guarantee brings peace of mind to the owner and the renter of the apartment by reducing the financial risk of the investment.

We invest in renewable energy

Together with our investors we are accelerating the global transition to renewable energy. Wind power and solar energy are already competitive alternatives on the market, and in many countries, they are now the cheapest form to new build electricity generating capacity. We currently manage four private equity funds and have a 2.8 GW wind and solar portfolio in Europe, the US and the Middle East.

2.8
Wind power and solar energy portfolio, GW
4
Renewable energy funds

Case

Energy from the sun

We have invested in a globally significant solar energy project in Jordan together with leading players in the energy sector. The 850-foot-wide solar energy park will generate electricity for 110,000 households annually when completed.

Key figures in 2020

69.4
Income, MEUR
17.5
Operating profit, MEUR
25.3
Operating profit, %
10.1
Return on equity, %
0.46
Earnings per share, EUR
0.32
Dividend per share, EUR
(Board proposal)
7.6
Assets under management, BEUR
216.2
Group’s capital adequacy ratio, %
230
Market capitalization, MEUR
(at the end of 2020)

Highlights in 2020

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Taaleri’s Impact in 2020

Environmental

Commitments in private equity funds investing in renewable energy were EUR 637 million at the end of 2020.

Emission reduction of private equity funds investing in renewable energy was

  • 1.9 million tCO² by the end of 2020
  • 14.0 million tCO² by the end of 2030 with current funds.

The subscriptions in Taaleri Impact fund totalled EUR 19 million at the end of 2020.

Social

Taaleri Rental Home fund has built a total of 384 affordable rental homes by the end 2020.

Taaleri's housing funds have built a total of 1500 rental homes by the end of 2020.

Garantia has through its guaranty insurance operations enabled during 2020:

  • 7370 own apartments
  • 7565 rental aparments

We cooperated with Junior Achievement Finland during 2015-2020. Junior Achievement Finland reached 75,000 students during school year 2019-2020, with 1,200 schools and colleges involved.

Financial

In 2020 Taaleri Group employed an average of 192 professionals.

The number of new recruitments of Taaleri Group in 2020 was 27.

Income taxes and taxes on salaries and other fees to Finland were EUR 11.5 million in 2020.

Taaleri's own balance sheet investments totalled EUR 7.2 million in 2020.

Taaleri's private equity funds have cumulatively invested over EUR 1.4 billion in Finland (including equity and debt capital).

Financial performance, governance and remuneration

In line with the Finnish Corporate Governance Code 2020 published by the Securities Market Association and in conjunction with the annual Financial Statements, Taaleri publishes a Corporate Governance Statement and current Remuneration Report.