Guarantees continue to increase

INTERIM REPORT JANUARY - AUGUST 2019
Guarantee volume totalled SEK 41.1 billion and fell by ten per cent compared with the corresponding period in 2018. Compared with earlier years, issuing of guarantees is still at a high level. During the corresponding period in 2018, guarantee volume doubled compared with 2017.

A new large transaction to the United States contributed to the high guarantee volume as did a large transaction involving a wind power project. The guarantee volume was highest in the OECD’s high-income countries, which is mainly explained by the large transaction in the USA. The second largest region is Latin America, where short-term transactions dominate. In Asia, the guarantee volume doubled compared with the same period last year. Telecom transactions and export of vehicles have contributed to this.

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The Period at a glance

  • EKN issued guarantees to a value of SEK 41.1 billion (SEK 45.3 billion).
  • During the period, EKN issued guarantees for 1,505 new transactions (1,374 new transactions).
  • Claims paid increased, but do not affect profit/loss results since provisions had been made previously.
  • Small and medium-sized companies are using EKN in increasing numbers.
  • A new solution has been launched to comply with the banks’ capital adequacy rules.
  • Profit for the period totalled SEK 586 million (SEK 931 million).

Figures in brackets refer to the corresponding period the previous year.

New transactions and profit/loss 

Jan-Aug 2019

Jan-Aug 2018

New guarantee offers, SEK millions

40,703

31,207

New guarantee offers, number

1,577

1,527

New transactions, volume of guarantees, SEK millions

41,100

45,321

New transactions, number

1,505

1,374

Claims paid, SEK millions

1,222

926

Profit/loss, SEK millions 

586

931

 

Outstanding exposure and accumulated profit/loss  31/08/2019 31/12/2018
Outstanding guarantee offers, SEK millions  88,288 94,769
Outstanding guarantees, SEK millions 208,039 193,295
Equity 24,449 23,863

Tertiary reporting.

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

Financial Reports

Interim Report January-August 2019 2019
Interim Report January-April 2019
Annual Report 2018
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