Taaleri operates in the financial sector. The company is a Nordic private equity fund company that focuses on renewable energy and other alternative investments. The company has two business segments: Equity Funds and Strategic Investments. With its capital funds, Taaleri creates, for example, wind and solar power, biofuels and real estate. The company was founded in 2007 and its head office is located in Helsinki, Finland.
Taaleri's Q3 results came in clearly above our expectations on a group level, and performance on the underlying level was also strong, owing to good performance in all key operative segments. The group's top line and profitability were positively affected...
Taaleri’s Q3 2025 continuing earnings of EUR 10.1m increased by 4% y/y and came 5% above our estimate. The beat was attributable to both Garantia and Private asset management, where continuing earnings were 17% and 3% ahead of our expectations, respectively...
Taaleri reported significantly better figures this morning than we had estimated. The beat was purely due to investment income, and operationally the quarter was fully in line with our expectations.
Before Taaleri's Q3 2025 results on 28 October, we make slight estimate revisions, reflecting the CMD held in September 2025 and the new strategy set for 2026-28. We note, however, that we do not expect the positive impact from the new strategy period...
In this article, we review the quality of earnings of listed asset managers. In summary, the quality of earnings varies significantly within the sector, but on average, the level is quite good. The level has also improved in recent years, as the share of recurring fees has increased. We note that we have made the comparison at the group level, and thus the comparison does not account for the companies' differing business structures. We excluded Aktia from our review as the necessary information on its asset management is not available.
Asset managers' results declined sharply during the first half of the year. However, underlying factors include challenges in the real estate market and a decline in performance fees, and the operational development shown below has been largely positive. The outlook for the sector is positive, and as long as geopolitical risks remain in the background, companies in the sector are poised for robust earnings growth in the second half of the year.
Yesterday's Capital Markets Day clarified Taaleri's previous growth strategy. Regarding capital allocation, the focus remains on investments in the company's own balance sheet, though the emphasis on the bioindustry has shifted to a broader, more opportunistic investment mandate. The company will also maintain its current structure, at least for the time being. While the share is cheap by all measures, we find it difficult to see how the sum of its parts could be realized with the current structure and uncertainty surrounding capital allocation. Therefore, we consider it justified to price the share at a clear discount to the sum of its parts for the time being, and as a result, we are revising our target price to EUR 8.5 (was EUR 9.0) and lowering our recommendation to Accumulate (was Buy).
Taaleri hosted its CMD today in Helsinki. The CMD offered a detailed description of Taaleri's strategic focus areas and the financial targets set for the period 2026-2028. The main takeaway in terms of strategic initiatives were, in our opinion, Garantia...
Taaleri Plc will host a Capital Markets Day for investors, analysts, other capital market representatives, and the media. During the event, Taaleri’s CEO Ilkka Laurila and other members of the Executive Management Team will present the company’s business operations, operating environment, and updated strategy, which will be published prior to the event.
Taaleri announced its updated strategy for 2026-2028 this morning. The strategy is largely a refinement of the previous one, with no major structural reforms announced. The most significant change is in the area of the company's own balance sheet investments, where the focus on the bioindustry has been dropped, and investment activity will be more opportunistic going forward. Preliminarily, we consider the refinements to the strategy to be reasonable. However, they do not solve the key challenge posed by the conglomerate structure and its associated low valuation level. In its press release, however, the company hinted at the potential for larger arrangements in the future. Taaleri is hosting a Capital Markets Day tomorrow starting at 1:00 pm EEST, which will be broadcast on InderesTV. We will update our view on Taaleri on Wednesday, after the CMD tomorrow.
Taaleri will host its CMD tomorrow on Tuesday 2nd of September. We expect the company to provide additional details on the updated roadmap for the strategy period. The new strategy, released today, is based on capturing Garantia's growth potential, expansion...
