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Taaleri announced today that Bio I fund (dark green fund) has reached its second closing at over EUR 100m, which triggers additional EUR 5m investment from the Finnish Climate Fund.
Based on segment reporting, Taaleri reported Q2 sales of EUR 11.9m and operating profit of EUR 2.4m, clearly below Refinitiv consensus expectations.
Taaleri reported Q2 EBIT of EUR 2.4m, coming clearly below Refinitiv consensus at EUR 5.0m. Based on segment reporting, Q2 total income was EUR 11.9m, 13% below Nordea estimate of EUR 13.6m.
Q2 will likely be negatively affected by market turbulence weighing on Garantia's investment operations, given high exposure to fixed-income products.
Taaleri hosted today its first Investor day where business unit leaders gave business update. Overall, the event gave only little new information, while we make following remarks.
This morning, Taaleri announced first closing of its first bioindustry fund at targeted EUR 80m. The company continues fundraising backed up by strong demand.
Based on segment reporting, Taaleri reported Q1 sales of EUR 7.2m and operating profit of EUR -0.7m, clearly above Refinitiv consensus expectations.
Taaleri reported Q1 EBIT of EUR -0.6m, coming clearly above Refinitiv consensus at EUR -4.3m. Total income from segment reporting was EUR 7.2m above Nordea estimate of EUR 0m. Recurring revenues were EUR 9.3m in Q1, missing our estimate by 6%.
We believe Q1 will be negatively affected by Garantia's investment operations, given the current market turmoil and its relatively high exposure to fixed-income products.
Taaleri announced that it will record an estimated earnout of EUR 6.7m in Q2 from the Finsilva holding sold in 2016.