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"EKN has had an exceptional start to the year with high demand, reflecting Sweden's unique position in the 5G market. Extensive investments are being made in telecoms where export credit guarantees are required," says Director General Anna-Karin Jatko.

Fewer guarantees for SMEs

The number of guaranteed SME transactions decreased slightly to 119 during the first tertial of 2023, compared with 150 in the same period of 2022.

"Banks have become more cautious compared to previous years and obtaining bank financing has become harder, especially for scale-up enterprises. For this reason, EKN launched the working capital credit guarantee for scale-ups at the end of 2022," says Anna-Karin Jatko.

Lower claims provisions

Claims payments remained at a low level, amounting to SEK 292 million, whilst recoveries totalled SEK 300 million.

The significant dissolution of claims provisions and the absence of large new claims provisions positively impacted the result, which amounted to SEK 1.46 billion.

EKN is in a strong financial position and has substantial capacity to support Swedish exports in the future.