EKN Jan-Mar 2016: Increased demand from SMEs for EKN guarantees

Press release - 30 MAY 2016

In the first quarter of this year, EKN has guaranteed twice as many export transactions as in the same period the previous year. The increase is mainly due to increased demand from small and medium-sized enterprises.

The guarantee volume for the period was SEK 6.4 billion, compared with SEK 8.5 billion in the first quarter of 2015. The number of guaranteed transactions was 466, compared with 235.

The guarantee volume for small and medium-sized enterprises was SEK 733 million, an increase of 26 percent.

 The number of offers has also increased, while the volume has fallen.

 “EKN guarantees the payment risk for small and medium-sized enterprises that are expanding into emerging markets. We are increasing our efforts to reach out to these companies,” says EKN’s Director General Anna-Karin Jatko.

During the period, EKN made ​​extensive provisions for a certain large transaction with payment problems, leading to a negative result of SEK -1,990 million for the period.

“EKN’s mission involves having some very large transactions in our risk exposure. We must always be prepared for the possibility of large individual claims. After many years of positive results, we are well prepared,” says Anna-Karin Jatko.

 

Transactions for the period 

Jan-Mar 2016

Jan-Mar 2015

Offers, number

576

445

Volume of offers, SEK million

17,815

20,674

Guaranteed transactions, number

466

235

Volume of guarantees, SEK million

6,447

8,531

Claims incurred

-2,355

-19

Profit/loss for the period, SEK million

-1,990

500

 

Outstanding exposure and accumulated earnings, SEK million

 

31/03/2016

 

31/12/2015

Outstanding offers

78,792

72,984

Outstanding guarantees

198,383

214,134

Provision for exposure risk

12,075

9,833

Equity

20,747

23,252