Guarantee volume doubles

INTERIM REPORT JANUARY-AUGUST 2018: The period saw the guarantee volume increase by more than 100 per cent compared with the same period last year. The increase is primarily due to two major telecom transactions to the USA. The number of guaranteed transactions has fallen somewhat due to significantly fewer transactions with Iran.

The significant increase in the guarantee volume is a continuation of the significant increase in the offer volume in the corresponding period last year. Then, in 2017, EKN issued offers for the two largest ever transactions in EKN’s history to private buyers. These transactions have now been completed and the offers have been converted into issued guarantees. The guarantee volume increased to SEK 45.3 billion (SEK 22.8 billion). The offer volume fell to SEK 31.2 billion (SEK 69.6 billion).

Interim report download

Download Interim report January - August 2018

The period at a glance

  • The guarantee volume totalled SEK 45.3 billion (SEK 22.8 billion).
  • EKN guaranteed more transactions and a bigger guarantee volume to small and medium-sized enterprises. The number of offers and the offer volume increased as well.
  • The number of guaranteed transactions fell as EKN issued fewer letter of credit guarantees for export transactions to Iran. The USA’s trade sanctions against Iran are slowing down Swedish exports to this country.
  • EKN signed an agreement with the European Investment Fund (EIF) in respect of a guarantee limit of SEK 2.0 billion in favour of innovative small and medium-sized enterprises.
  • Negative developments in Turkey resulted in a downgrading of the country to country risk category 5 and the risk provision being increased by SEK 50 million.
  • The profit for the period totalled SEK 931 million (SEK 793 million).

Figures in brackets refer to the corresponding period last year.

 

New transactions and profit/loss 

January-August 2018

January-August 2017

New offers (SEK million)

31,207

69,601

New offers, number

1,527

1,569

New transactions, volume (SEK million)

45,321

22,848

New transactions, number

1,374

1,433

Claims paid (SEK million)

926

560

Profit/loss (SEK million)

931

793

 

Outstanding exposure and accumulated earnings 31/08/2018 31/12/2016
Offers outstandning (SEK million) 74,648 92,713
Guarantees outstanding (SEK million) 205,825 184,850
Equity 23,791 22,860

Tertiary reporting.

Since January 2017, EKN has transitioned from quarterly to tertiary reporting.

Financial Reports

Interim Report January-August 2018
Interim report January-April 2018 2018
Annual Report 2017
Interim Report January-August 2017
Interim Report January-April 2017
Annual Report 2016
Interim Report January-September 2016
Interim Report January-June 2016
Interim Report January-March 2016
Annual Report 2015
Interim Report January-September 2015
Interim Report January-June 2015
Interim Report January-March 2015
Annual Report 2014
Interim Report January-September 2014
Interim Report January-June 2014
Interim Report January-March 2015
Annual Report 2013
Interim Report January-September 2013
Interim Report January-June 2013
Interim Report January-March 2013
Annual Report 2012
Annual Report 2011
Annual Report 2010
Annual Report 2009