January-September 2015: Largest-ever transaction and continuing increase for SMEs

Press release - 17 NOV 2015

During the period, EKN guaranteed payments for Brazil's loan to purchase the Gripen fighter jet. The trend of record-high SME guarantee volumes continues.

The guarantee volume for the period was SEK 78.0 billion, compared with SEK 29.9 billion the previous year. The increase is primarily due to the Brazilian transaction. Even if the transaction is disregarded, the guarantee volume for the period showed an increase.

During the period, EKN guaranteed 1,186 export transactions destined for 106 countries, compared with 1,048 the previous year. A total of 95 per cent of the guarantee volume relates to emerging markets, which is an increase from 74 per cent the previous year. The large transaction with Brazil has contributed to the increase, but this has also been a trend for a number of years. It also means that the defence industry accounts for the largest proportion of the period's guarantee volume. Export transactions in the telecom, transport and mining sectors have also contributed to the guarantee volume increase.

“The Gripen transaction will strengthen and develop the long-standing business relations between Brazil and Sweden well into the future. It is part of our mission to guarantee payment risks in all sizes of export transactions. In parallel with this transaction, we have set a record for guarantees issued for SME transactions,” says Director General Karin Apelman.

EKN's focus on reaching out to more SMEs has been successful. The number of new SMEs choosing to guarantee their payment risks with EKN was 68, compared with 58 for the same period in 2014. The SME guarantee volume amounted to SEK 1.7 billion, compared with SEK 1.1 billion the previous year. The SME offer volume increased by nine per cent during the period.

Transactions for the period 

 

Jan-Sep 2015

Jan-Sep 2014

Number of offers

 

1,441

1,209

Volume of offers, SEK million

 

48,016

29,923

Number of guaranteed transactions

 

1,186

1,048

Volume of guarantees, SEK million

 

78,029

21,716

Claims paid

 

-260

-435

 

Profit for the period, SEK million

 

1,132

1,266

   

 

 

Outstanding exposure and accumulated earnings, SEK million

 

30/09/2015

31/12/2014

Outstanding offers

 

66,161

110,415

Outstanding guarantees

 

219,421

177,647

Provision for exposure risk

 

9,091

5,412

Equity

 

23,919

25,075

Document

Interim Report January-September 2015

contact

rikard.bjork@ekn.se