Strong Swedish exports throughout crisis and climate transition

ANNUAL REPORT 2020
The total guarantee volume amounted to SEK 119.1 billion. The volume of regular guarantees encompassed historic levels, amounting to SEK 64.7 billion. EKN also provided working capital credit guarantees for large corporates as a crisis measure, totalling SEK 54.4 billion.

Excluding temporary crisis measures with working capital credit guarantees for large companies, regular guarantee operations amounted to SEK 64.7 billion for export transactions to 138 countries, a historic high that is only comparable with the year in which EKN guaranteed the Gripen fighter jet transaction with Brazil.

Many of EKN’s customers operate in sectors that have not suffered any major negative impact from the pandemic. For example, the roll-out of 5G by telecoms providers in high-income countries has continued and exports of medical devices and equipment have increased considerably. In addition, Swedish exports have retained their prominence in terms of global investments in solar and wind power as well as sustainable transport solutions.

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The year in brief

  • The regular guarantee volumeamounted to SEK 64.7 billion (SEK  54.2 billion)
  • The guarantee volume for the temporary working capital credit guarantees for large corporates amounted to SEK 54.4 billion. The number of transactions was 34.
  • During the year, EKN guaranteed 1,896 new transactions (2,135 new transactions*). 
  • EKN guaranteed 611 transactions for small and medium-sized companies (725 transactions**). 
  • The exports that EKN guaranteed went to 138 countries (135 countries). At year-end, EKN had outstanding guarantees for transactions in 145 countries.
  • According to expectations, claims paid continued to be high and amounted to SEK 1.6 billion (SEK 1.8 billion). They primarily pertained to a few transactions with claims that had arisen in previous years.
  • Profit amounted to SEK 0.2 billion (SEK 1.1 billion). EKN retains its strong financial position.
  • The number of customers was 494, of which 349 were small and medium-sized companies (445 customers, of which 322 SMEs).

* A difference of 278 transactions was due to changes in administration of guarantee frameworks.
** Here, too, the difference was a result of changed administration.

 OUTSTANDING EXPOSURE AND ACCUMULATED EARNINGS (SEK MILLION)

31/12/20

31/12/19

New offers

136,344

118,848

New guarantees

184,330

195,862

Provisions

9,058

8,137

Outstanding claims, nominal

13,012

12,595

Outstanding claims, calculated net value

1,703

1,814

Equity

24,712

24,930

Latest updated 12 Mar 2021