Taaleri - Market volatility visible in segment results

Taaleri’s group income in H2/2018 amounted to EUR 37.3m (Evli 37.9m) and EBIT to EUR 11.5m (Evli EUR 10.7m). EBIT in Wealth Management declined largely due to declines in performance fees while the market volatility affected investment income in Financing. Group EBIT was aided by the listing of Fellow Finance.
  • Income in H2 amounted to EUR 37.3m (EUR 42.3m in H2/17), in line with our estimates (Evli EUR 37.9m). The group’s continuing earnings grew 5.4 per cent.
  • EBIT in H2 was EUR 11.5m (EUR 11.6m in H2/17), slightly above our estimates (Evli EUR 10.7m). Taaleri had pre-announced the EBIT -margin in 2018 to be at similar levels to 2017.
  • The Wealth Management segments income in H2 was EUR 19m (H2/17 EUR 30.7) and EBIT EUR 2.7m (H2/17 EUR 8.8m). EBIT was affected by declines in performance fees.
  • The Financing segments income in H2 was EUR 6.3m (H2/17 EUR 10.1m) and EBIT EUR 2.5m (H2/17 EUR 6.0m). EBIT was affected by weaker income from investment activities.
  • The Energy segments income in H2 was EUR 1.2m (H2/17 EUR 1.0m) and EBIT EUR -1.4m (H2/17 EUR -0.9m).
  • Income from other operations in H2 amounted to EUR 10.3m (H2/17 EUR 0.9m) and EBIT EUR 7.7m (H2/18 EUR -1.9m). EBIT positively impacted by the listing of Fellow Finance (EUR 13.8m) and negatively impacted by the write-off on a geothermal project (EUR -3.1m)-
  • Assets under management at the end of H2/18 amounted to EUR 5.7bn
  • Dividend: Taaleri’s BoD proposes a dividend of EUR 0.30 per share (Evli EUR 0.29)

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