January–December 2015: Major increase in issuing of guarantees

Press release - 17 FEB 2016

The SAAB Gripen transaction with Brazil led to a major increase in EKN's issuing of guarantees in 2015. The increase in demand for guarantees for transactions to the Gulf countries and Russia also contributed to the increase. In addition, we saw record-high demand from SMEs.

“The transactions and guarantee volume for the year demonstrate that the need for risk coverage remains high for both large and small companies,” says EKN Director General Karin Apelman.

The issuing of guarantees experienced a major increase during the year, totalling SEK 90.1 billion, in comparison to SEK 26.7 billion the year prior. The issuing of guarantees is still higher than the previous year even if the SAAB Gripen transaction with Brazil is excluded.

The volume of offers increased substantially as well. EKN issued new offers for SEK 75.8 billion during the year, in comparison to SEK 54.2 billion the year prior.

“In an uncertain world economy with lower growth rates, ­ there are still excellent export opportunities for the Swedish business sector,” says Karin Apelman.

 

Transactions and profit for the year

2015

2014

Number of new offers

1,993

1,938

New offers, SEK million

81,105

54,243

Number of new transactions

1,557

1529

New transactions, SEK million

90,056

26,695

Indemnifications, SEK million

476

537

Profit

464

1,824

 

 

 

Outstanding exposure and accumulated earnings (SEK million)

31/12/2015

31/12/2014

Outstanding offers

72,984

125,814

Outstanding guarantees

214,134

174,245

Provision for exposure risk

9,833

5,412

Equity

23,252

25,075