Taaleri’s Financial Statements 1 Jan – 31 Dec 2017: Profit for the financial period grew by 70.6 percent and earnings per share was EUR 0.76

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TAALERI PLC                                 FINANCIAL STATEMENT          15 FEBRUARY 2018  AT 8:30Taaleri’s Financial Statements 1 Jan – 31 Dec 2017: Profit for the financial period grew by 70.6 percent and earnings per share was EUR 0.76TAALERI GROUP 1 January–31 December 2017The Group’s income grew by 33.7 per cent to EUR 81.0 million (1–12/2016: EUR 60.6 million)The Group’s assets under management grew by 16.3 percent to EUR 5.6 (4.8) billion.The Group’s operating profit increased by 69.0 per cent to EUR 27.6 (16.3) million.Earnings per share were EUR 0.76 (0.45).The Board of Directors proposes a dividend of EUR 0.26 (0.22) per share to be distributed.TAALERI GROUP 1 JULY–31 December 2017The Group’s income grew by 57.1 per cent to EUR 42.3 million (7-12/2016: EUR 26.9 million)The Group’s assets under management grew by 10.6 percent to EUR 5.6 billion (30 June 2017: 5.3).The Group’s operating profit was EUR 12.0 million (4.6).Earnings per share were EUR 0.32 (0.12).* in the long termTaaleri Plc’s Financial Statement 1 January–31 December 2017 is attached to this release and available also at the address www.taaleri.com/en/investor-relations/reports-and-presentations.
CEO Juhani Elomaa on the result:
Taaleri’s 2017 result was excellent. We succeeded in increasing our income by 33.7 per cent to EUR 81 million and increasing our operating profit by 69 per cent to EUR 27.6 million. Taaleri Group’s profit for the period rose to EUR 21.8 million, an improvement of 70.6 per cent from last year. Earnings per share were EUR 0.76.In 2017, the investment environment was favourable for our business. The low interest level, non-existent inflation and rising stock prices are a rare and optimal situation for an investor, which supported Taaleri’s business throughout the year.All business segments developed well, income of the Wealth Management segment grew by 47 per centThe Wealth Management segment enjoyed excellent development in 2017, and the company has succeeded in raising more capital through various private equity fund projects as well as through the success of mutual funds. In Wealth Management, performance fees nearly tripled. The assets under management in Wealth Management grew by 17 per cent to EUR 5.5 (4.7) billion. The income of Wealth Management in the review period increased by 47 per cent to EUR 54.6 (37.1) million.The Financing segment is comprised of Garantia Insurance Company Ltd. The development has been positive, both in relation to premiums written, low claims incurred and successful investment operations. The premiums written increased by 25 per cent to EUR 15.2 (12.2) million. The claims ratio representing claims incurred remained low at 10 (12) per cent, and the return on investment at fair value was excellent at 6.6 (5.8) per cent.The Energy segment started operations on 1 July 2016 and is in a heavy investment phase, which is why the segment’s result is still negative (EUR -1.5 million). The aim is to expand to international energy projects. The financial period gone by was a breakthrough year for the Energy segment, and we invested into several important projects for the future through our fund. Last year, we started significant cooperation activities with Masdar, an Abu Dhabi-based energy investor. In Finland, we are investing in the operative activities of ongoing wind power projects.Taaleri invests into FinlandTaaleri’s activities are guided by the intention and objective of creating a culture of ownership in Finland. This intention is supported by our large customer base. Working together with our customers, we have the opportunity to influence the Finnish economy through concrete measures. Taaleri has invested over EUR 1.3 billion in Finland, for example through our real estate, forest and wind funds.Financial targets and dividend proposalTaaleri’s long-term operating profit target is at least 20 per cent of income, for return on equity in the long term at least 15 per cent, and the equity ratio target is at least 30 per cent. In addition to these, the company strives to increase the amount of dividend it distributes, and annually to distribute a competitive dividend, taking into account the company’s financial and financing situation as well as the expiration of the special permission by the Finnish Financial Supervisory Authority regarding the capital adequacy requirement.The Board of Directors proposes that a dividend of 0.26 euros per share be paid for the 2017 financial year.The most significant factors affecting the Group’s operating profits are changes in the external operating environment and changes in the financial situation in Finland.Taaleri has published statements on Corporate Governance and RemunerationCompliance with the Securities Market Association’s Finnish Corporate Governance Code, Taaleri Plc has published a Corporate Governance Statement and the Taaleri Group’s Remuneration Statement for 2017 at the address www.taaleri.com/en/investor-relations/governance/statements.Taaleri Plc
Communications
Additional information:Juhani Elomaa, CEO, Tel. +358 40 778 9020
Minna Smedsten, CFO, Tel. +358 40 700 1738
Taneli Hassinen, Head of Communications and IR, Tel. +358 40 504 3321
Taaleri in briefTaaleri 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, Inderes Oy, which produces analyses and market information for investors, and Ficolo Oy developing data centers.At the end of December 2017, Taaleri had assets under management totaling 5.6 billion euro and 4,400 wealth management customers. Taaleri Plc has some 3,900 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.More information about our company and services: www.taaleri.com/en
www.fellowfinance.fi/en
www.garantia.fi/en

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Marcus Clinker

Marcus Clinker

Marcus is a reporter on the Political Capital team focusing on money in politics. Before joining Daily Telescope, he worked as a researcher and writer for the Institute for Northern Studies at Ohio State University and as a freelance journalist in Portalnd, having been published by over 20 outlets including NPR, the Center for Media and Democracy,The Huffington Post, Salon, Truthout and VICE.com.