On April 30, 2021, Taaleri completed the sale of its wealth management operations to Aktia. Taaleri applies the requirements of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations in the classification, presentation, and recognition of sale of the wealth management operations.
There are differences in the figures in the Group's consolidated income statement and segment reporting due to the application of IFRS 5. In the consolidated income statement, intra-group income and expenses between discontinued and continuing operations have been eliminated. In segment reporting, income and expenses between discontinued and continuing operations are presented as transactions outside the Group. The earnings figures in the explanatory section in this half year financial statement represents the Group's continuing operations according to segment reporting, unless otherwise stated. The chosen presentation will improve the comparability of segment reporting in the coming years.
2
Taaleri Q3 2021
On 25 October 2021, Taaleri Plc announced that the Group's CEO Robin Lindahl had left his post and the Board of Directors has appointed Peter Ramsay, M.Sc. (Econ.), as the new CEO as of 1 December 2021.
Lindahl left the company's operational management immediately. As of 25
October, Karri Haaparinne, former Deputy CEO of Taaleri and one of the founders of the company, was appointed as Taaleri's interim CEO.
3
Taaleri Q3 2021
After the major strategic changes in
The operation and construction
The sale of the fund completed very
early 2021, we focused on our core
projects of the fund proceeded
successfully in July for the purchase
business and advancing our
according to plan in the third
price of approximately EUR 145
strategy in the third quarter.
quarter, and the project pipeline
million. The fund almost doubled
looks promising.
the capital invested by its investors.
The sale of Garantia's new
The cost reduction effects of
residential mortgage guarantees
financial, personnel and corporate
continued to grow as a result of an
arrangements made earlier in the
expanded distribution channel and a
year began to show as expected in
buoyant housing market.
the third quarter.
4
Taaleri Q3 2021
The income according to the segment reporting grew by 0.9% to EUR 12.3 (12.2) million.
Continuing earnings grew by 4.2% to EUR 9.2 (8.8) million.
Performance fees were EUR 0.0 (0.1) million and investment operations generated EUR 3.1 (3.3) million.
According to segment reporting, operating profit was EUR 4.6 (5.0) million, corresponding to 37.3% (40.7) of income.
Earnings per share were EUR 0.11 (0.10) for continuing operations, EUR 0.00 (0.08) for discontinued operations and EUR 0.11 (0.17) for the result of the period.
5
Taaleri Q3 2021
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Taaleri Oyj published this content on 05 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2021 06:11:04 UTC.
Taaleri Oyj is a Finland-based private equity company which focuses on renewable energy and other alternative investments. The Company creates, for example, wind and solar power, biofuels and affordable rental homes. Taaleri Oyj has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate and bioindustry businesses. The Strategic Investments segment includes Vakuutusosakeyhtio Garantia. The Company has numerous subsidiaries, including Taaleri Paaomarahastot Oy, Taaleri Biojalostamo GP Oy, Taaleri Energia Iberia SL, Taaleri Energia North America LLC as well as Taaleri Rauman Asuntorahaston hallinnointiyhtio Oy.