Taaleri Plc's Half-Year Financial Report OPERATIVELY TAALERI’S DEVELOPMENT WAS GOOD BUT COVID-19 BURDENED EARNINGS FROM INVESTMENT OPERATIONS

Taaleri Plc's Half-Year Financial Report 13 August 2020 at 8:30 (EET)

OPERATIVELY TAALERI’S DEVELOPMENT WAS GOOD BUT COVID-19
BURDENED EARNINGS FROM INVESTMENT OPERATIONS

The Group Half-Year Financial Report January-June 2020

• Income was EUR 26.3 (30.9) million. Investment operations suffered due to changes in the stock and money market investment caused by the COVID-19 pandemic, resulting in fair value changes.
• Continuing earnings grew by 18.2 per cent to EUR 29.0 (24.5) million, growth especially in Energia and Insurance -segments.
• Performance fees accrued from several funds totalling EUR 2.2 (-0.5) million.
• Earnings from investment operations declined to EUR -5.1 (6.8) million, due to the market development during the period under review.
• Operating profit was EUR 2.8 (6.4) million, or 10.6 (20.6) per cent of income. Operating profit excluding investment income was MEUR 7.9. which corresponds to 25.0 percent of net sales.
• Earnings per share were EUR 0.04 (0.18).
• Assets under management recovered after the spring decline, and totaled EUR 7.1 (31 Dec. 2019: 7.1) billion.
• The Guaranty insurance portfolio totaled EUR 1.8 (31 Dec. 2019: 1.8) billion.
• Taaleri Energia successfully exited its first wind farm project in the United States. The profit impacts from the project will be gradually booked later.