Interim report 2 2018: Strong finances for Swedish exporters

Activity levels are high in the Swedish export industry. However, due to healthy access to financing in the market, the positive trend for Swedish exports was not fully reflected in SEK’s lending. New lending for the first six months of the year was lower than in the prior year period at Skr 26.6 billion.

Despite a higher export order intake, exporters believe that the need for export
financing remains unchanged. The access to financing in the market is healthy and the
companies’ finances has been strengthened” says SEK’s CEO Catrin Fransson.

Operating profit for the first six months of the year was down year-on-year at Skr 416

Year-on-year, net interest revenues declined in the first six months of the year to Skr
728 million. Net interest revenues were negatively impacted by a higher resolution fee
and higher borrowing costs.

Efforts to attract new clients were successful in the first six months. The focus on
medium-sized companies has been the primary driver in generating new business and
new clients.

It is gratifying to see that our strategic work to reach more clients in this segment has
paid off” says SEK’s CEO Catrin Fransson.

Financial performance January–June 2018 (Compared to January-June 2017)

• New lending amounted to Skr 26.6 billion (1H17: Skr 48.7 billion)
• Net interest revenues was Skr 728 million (1H17: Skr 852 million)
• Operating profit was Skr 416 million (1H17: Skr 486 million)
• Net profit was Skr 312 million (1H17: Skr 371 million)
• The return on equity amounted to 3.5 percent (1H17: 4.3 percent)
• Earnings per share before and after dilution amounted to Skr 78 (1H17: Skr 93)
• The total capital ratio was 20.2 percent at the end of the period (year-end 2017:
23.0 percent)

Download the Interim Report Q2 2018 here


Catharina Henriksson
Press & Public Affairs
Phone: +46 766 77 59 09

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