January-September 2016: EKN's guarantees to small companies continue to increase

Press release - 22 NOV 2016

EKN’s strong effort to reach small and medium sized companies continues to show positive development. During the first nine months of the year, small and medium sized companies were guaranteed export business worth SEK 2.1 billion, an increase of 24 per cent.

“In an uncertain world, there are still good export opportunities for Swedish businesses and it is especially gratifying that we are now getting better at showing small companies how EKN can strengthen their risk capacity on the global market”, says Anna-Karin Jatko, EKN’s Director General.

EKN guaranteed a total of 1,317 export transactions for SEK 26.1 billion during January to September 2016. This is a decrease compared to SEK 78.0 billion for the same period previous year. The majority of this large difference is represented by an extremely large transaction that EKN guaranteed in 2015.

The reduced offer volume, which amounted to SEK 35.2 billion, compared with SEK 48.0 billion in the same period in 2015, can also be explained by an offer for a single large transaction in 2015.

During the end of last year and the beginning of 2016, there were increasing payment problems in some large transactions. EKN believes that some of these problems will mean that EKN will have to pay claim compensation. EKN has therefore made considerable provisions. Claims payments also increased during the first three quarters, to SEK 967 million, compared to  SEK 260 million for the previous year.

 

Transactions during the period 

Jan-Sep 2016

Jan-Sep 2015

Number of offers

1,714

1,441

Offer volume, million SEK

35,226

48,016

Number of guaranteed transactions

1,317

1,186

Guarantee volume, million SEK

26,117

78,029

Claims expenses, million SEK

-3,403

-113

(including claim payments)

-967

-260

The period’s financial results

-1,947

1,132

Document

Interim Report January-September 2016