Good earnings and continued readiness
(Thomson Reuters ONE) -
Demand for financing was slightly lower in the first quarter compared with the
same period in 2009 which was during the financial crisis. Nevertheless, SEK
delivered a good operating profit (IFRS) for the period.
· Operating profit (IFRS) for the first quarter was Skr 279.2 million (367.6)
· Adjusted operating profit (Core Earnings) for the first quarter was Skr 318.7
million (477.7)
· The volume of new customer financing was Skr 14.1 billion (21.8)
· The outstanding volume of offers for credits at period-end was Skr 72.5
billion (Skr 84.5 billion at the end of 2009).
· New borrowing amounted to Skr 17.4 billion (16.6)
SEK's operating profit (IFRS) for the first quarter amounted to Skr 279.2
million, which was a decrease on the first quarter of the record year 2009.
Nevertheless it was a good result. Fees to the state stability fund amounted to
Skr 79.9 million. The international financial markets are now gradually starting
to recover and consequently SEK is approaching more normal levels of business
volumes. The company's new lending amounted to Skr 14.1 billion for the first
quarter, which was a decrease of Skr 7.7 billion on the first quarter of 2009.
The total volume of outstanding offers for export credits amounted to Skr 72.5
billion at the end of the period, a decrease of Skr 12 billion compared with the
end of 2009.
"We are seeing positive signals from the international financial markets. But
it's still too early to draw definite conclusions that the markets have fully
recovered. We are well prepared to ensure access to long-term financing at short
notice for Swedish exporters," said SEK President Peter Yngwe.
SEK's funding operations have been successful over the period. Total new
borrowing for the period amounted to Skr 17.4 billion, which was an increase of
Skr 0.8 billion on the same period in 2009.
For further information please contact Peter Yngwe, SEK's President, on +46
8 613 83 00 or Johan Winlund, Head of Communications, on +46 8 613 84 88.
[HUG#1410172]
Interim Report Q1 2010: http://hugin.info/138134/R/1410172/362742.pdf
Datum: 29.04.2010 - 16:09 Uhr
Sprache: Deutsch
News-ID 19989
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"Good earnings and continued readiness"
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