Taaleri plc Revises Earnings Guidance for the Full Year 2019
December 04, 2019 at 03:00 pm IST
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Taaleri Plc revised earnings guidance for the full year 2019. The company estimates the full-year 2019 operating profit margin to be lower than in 2018 (33%), as revenue recognition for the sale of Taaleri Energia’s Truscott-Gilliland wind farm project in Texas moves from late 2019 to early 2020, due to the contract negotiating schedule. The process of selecting a new turbine supplier has been completed as planned and the turbine supply agreement has been secured. Previous guidance from 19 June 2019: the company´s January-June 2019 operating profit margin is estimated to weaken to between 20% and 25%, and hence the operating profit margin for full-year 2019 will be slightly below the 2018 level. Taaleri’s long-term operating profit target is at least 20% of income, its long-term return on equity target is at least 15%, and its long-term equity ratio target is at least 30%.
Taaleri Oyj is a Finland-based private equity company which focuses on renewable energy and other alternative investments. The Company creates, for example, wind and solar power, biofuels and affordable rental homes. Taaleri Oyj has two business segments: Private Asset Management and Strategic Investments. Private Asset Management consists of renewable energy, real estate and bioindustry businesses. The Strategic Investments segment includes Vakuutusosakeyhtio Garantia. The Company has numerous subsidiaries, including Taaleri Paaomarahastot Oy, Taaleri Biojalostamo GP Oy, Taaleri Energia Iberia SL, Taaleri Energia North America LLC as well as Taaleri Rauman Asuntorahaston hallinnointiyhtio Oy.