Taaleri's Q3 results exceeded our expectations, with better-than-forecast performance in all segments. The biggest beat was seen in Garantia, whose investment portfolio return exceeded our forecasts by a very wide margin.

Taaleri announced that it records a profit of 8.3 MEUR following an earn-out from the sale of a renewable energy project development portfolio to the SolarWind 3 fund, which it manages.

Taaleri announced the redemption of its 15 MEUR Tier 2 bond. The principal on the loan issued in 2019 would have matured in 2029, but under the terms of the loan, the interest rate would have risen sharply starting next month. 

Taaleri's reported Q2 result exceeded our expectations as the operating cost level of Renewable Energy was lower than expected. Garantia’s development was also strong. Based on the report, we raised our earnings forecasts for the coming years somewhat.