Good capacity and strong finances

INTERIM REPORT JAN-AUG 2021
With earnings of SEK 1 billion, EKN further strengthened its financial position. At the end of the period, the statutory limit utilisation was SEK 333.2 billion, including working capital credit guarantees for large corporates, the temporary crisis solution.

Profit for the period of SEK 1.0 billion was significantly higher year-on-year (SEK 0.2 billion) due to higher revenue on several major transactions during the period.

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The period at a glance

  • The guarantee volume totalled SEK 49.2 billion, compared with SEK 52.0 billion for the year-earlier period. 

  • New guarantee offers amounted to SEK 56.7 billion, compared with SEK 50.8 billion for the year-earlier period.

  • The pandemic led to an increased need for payment deferments and, as a result, guarantee extensions. During the period, EKN approved 61 applications for guarantee extensions.

  • Since March 2020, as a result of an exception in the EU regulations due to the pandemic, EKN can temporarily offer guarantees to cover short-term supplier credits pertaining to high-income countries, which will remain possible throughout 2021. During the period, EKN issued 91 guarantees totalling SEK 1 billion.

  • Working capital credit guarantees for large corporates, which comprised a
    temporary solution to counter the effects of the pandemic, were discontinued from the end of June. From March 2020 to June 2021, the period in which the guarantees were offered, a total of 41 guarantees amounting to SEK 61 billion in aggregate were issued on behalf of 27 exporters. These guarantees are not included in the compilations in this report.

  • Claims payments for the period totalled SEK 0.4 billion, compared with
    SEK 1.0 billion in the year-earlier period.
    l Profit for the period amounted to SEK 1,000 million (SEK 200 million).

  • Profit for the period amounted to SEK 1,000 million (SEK 200 million).

New transactions and profit/loss

January–Aug 2021

January–April 2020

New guarantee offers, SEK million 56,727  50,798
New guarantee offers, number 1,385 1,395
New transactions, volume of guarantees, SEK million 49,241 52,041
New transactions, number 1,136 1,304
Claims payments, SEK million 442 1,044
Profit/loss, SEK million 1,050 199 

 

Outstanding exposure and accumulated profit/loss 

31 Aug 2021  31 Dec 2020
Outstanding guarantee offers, SEK million  134,407 136,344
Outstanding guarantees, SEK million  208,548 184,330
Equity, SEK million 25,761 24,712

Web page last updated 30 Sep 2021