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.
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
|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