Third quarter financial results for 2019

05/11/2019 - Stock exchange notice

The third quarter report 2019 was approved by the board of directors in Eksportfinans on November 5, 2019.

Net interest income was NOK 113 million for the first three quarters of 2019, compared to NOK 100 million for the first three quarters of 2018.

Profit for the first three quarters of 2019 was NOK 80 million, compared to NOK 71 million for the first three quarters of 2018. The increase from 2018 to 2019 was mainly due to a higher floating interest rate in NOK (NIBOR).

Total comprehensive income was NOK 53 million for the first three quarters of 2019, compared to NOK 11 million for the first three quarters of 2018. The fluctuations in these figures are primarily due to unrealized effects on Eksportfinans’ own debt.

Total assets amounted to NOK 14.9 billion at September 30, 2019, compared to NOK 19.2 billion at December 31, 2018 and NOK 18.8 billion at September 30, 2018. The reduction was due to scheduled repayments of debt.

The core capital ratio was 111.6 percent at September 30, 2019, compared to 113.9 percent at December 31, 2018 and 104.0 percent at September 30, 2018. At September 30, 2019, Eksportfinans had liquidity reserves totaling NOK 6.0 billion.

 

Facts about Eksportfinans ASA

Eksportfinans manages a portfolio of loans to the Norwegian export industry and foreign buyers of Norwegian capital goods. The company has not granted new loans since the government established a fully state owned entity responsible for new officially supported export loans in 2012. Eksportfinans’ loans are guaranteed by GIEK (The Norwegian Export Credit Guarantee Agency) and/or banks. The company also manages a portfolio of international securities. The business is funded through bonds and commercial paper issued in the international capital markets. Eksportfinans was established in 1962 and is owned by banks operating in Norway and the Ministry of Trade, Industry and Fisheries on behalf of the Norwegian government. For more information about Eksportfinans, please refer to www.eksportfinans.com