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Taaleri (TAALA) investor relations material
Taaleri Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic priorities updated for 2026–2028, focusing on growth in mortgage and credit guarantees, expanding distribution, and international opportunities.
Continuing earnings rose 4.2% year-over-year to EUR 10.1 million, driven by Private Asset Management, while Garantia earnings remained stable.
Revenue increased to EUR 23.0 million from EUR 21.6 million in Q3 2025, with operating profit up to EUR 15.3 million, reflecting strong fair value gains, especially from a Texas wind farm.
Market share and position in core businesses strengthened, with new processes and team members in development capital.
M&A activity ongoing, with dialogues in Finland and neighboring markets.
Financial highlights
Q3 2025: Revenue EUR 23.0m (+6.5% y/y), operating profit EUR 15.3m (+4.5% y/y), EPS EUR 0.43 (+10.3% y/y).
9M 2025: Revenue EUR 44.5m (-12.0% y/y), operating profit EUR 20.3m (-29.2% y/y), EPS EUR 0.52 (-31.6% y/y).
Net income from investment operations Q3: EUR 10.5m (-8.1% y/y); 9M: EUR 11.0m (-41.6% y/y).
Dividend for 2024 was EUR 0.50 per share, paid in two instalments in 2025.
Equity ratio at 72% in Q3; net cash EUR 25.1m; no interest-bearing liabilities.
Outlook and guidance
Growth in private asset management earnings depends on the final size of SolarWind III Fund; exits for Wind II and III likely postponed to next year.
Operating profit in investment activities for 2025 will depend on fair value changes, especially in development capital.
Garantia’s continuing earnings expected to remain slightly below prior period due to weak Finnish housing market; investment income to decrease.
Long-term targets: 12% average annual growth in operating profit from continuing earnings (2026–2028), ROE at fair value above 15%, and at least 50% dividend payout.
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