During this period, EKN issued guarantee commitments of SEK 26.8 billion, up 77 percent from the same period last year. The escrow volume reached a record 38.1 billion SEK, of which a few transactions account for a large share. The number of small and medium business customers has reached a new level.
Four export deals represent a significant share of the period’s record high insurance volume: for wind energy outside the UK, solar in Angola, railways in Tanzania, and telecoms in the USA. The commitments for the period of SEK 26.8 billion included two major deals for Ghana in relation to railways and hospitals and one deal to Côte d’Ivoire in relation to water supply.
Swedish companies are at the fore when it comes to meeting the world’s needs for technology that contributes to the UN’s global sustainability goals. The Swedish export credit system has for many years in the long run contributed to the competitiveness and competitiveness of Swedish companies. We will continue to do so, says Anna Karen Gatko, Managing Director of EKN.
More and more small and medium business customers
The number of customers from small and medium-sized businesses increased to 351, a new maximum level. Of those, 31 were new customers. Small and medium-sized businesses used EKN for guaranteed exports to 73 countries, compared to 59 countries during the same period last year. The volume of the guarantee amounted to 853 million crowns, compared to 878 million crowns.
Covering short-term risks in high-risk countries
Due to the pandemic, which led to an exception in the EU rules, since March 2020 EKN has been able to provide guarantees for short-term credit risks in export transactions within the EU and high-income countries. The opportunity applies throughout 2021. During the period, 44 guarantees were issued with a total value of SEK 427 million.
Continuing need for deferred payment
With the crisis, EKN guarantors have acquired clients who cannot pay according to the agreement. The need to postpone the remains but has diminished. During the first four months of 2021, 41 applications were received, compared to 144 during the same period last year.
Profit for the period was SEK 590 million (175 million SEK). EKN has continued to maintain a strong financial position after many years with positive results.
period in brief
The under guarantee amounted to SEK 38.1 billion, an increase of 34 percent compared to the first four months of 2020.
- New guarantee commitments amounted to SEK 26.8 billion, up 77 percent over the first four months of 2020.
- The number of SME customers increased to 351 (311), which is a new maximum level.
- During the first four-month period, 41 requests for deferred payment were received.
- Claim payments for the period amounted to 0.2 billion kroner, compared to 0.7 billion Swedish kronor.
- Profit for the period was SEK 590 million (175 million SEK).
- In addition to the regular guarantees, EKN continues to offer the temporary solution with operating credit guarantees for large companies, until the end of the first half of the year. During the four-month period, EKN issued four guarantees totaling SEK 5.6 billion. This activity is not included in the summaries in this report.
Head of Communications
08-788 01 66
The following attachments are available for download:
EKN_interim 2021_svenska report