Today SEK presents a strong financial statement for 2007. The financial outcome totalled Skr 533.6 million. On a market characterised during the second half year by a liquidity squeeze and turbulence, SEK strengthened its position and was a stable and reliable partner for the Swedish export sector. * Core profit for 2007 totalled Skr 533.6 million (538.1) * Operating profit (IFRS) totalled Skr 506.9 million (501.3) * The volume of the new customer financial solutions totalled Skr 56.8 billion (63.9) * Borrowing was very successful and totalled Skr 108 billion (61.3) SEK's core profit for 2007 totalled Skr 533.6 million, compared with 538.1 million the previous year. New customer financial solutions totalled Skr 56.8 billion, the second highest amount ever. The proportion of lending to companies increased during the year. In the second half of the year, the credit market was affected by concern over the US housing market, which led to a liquidity squeeze and turbulence. However, SEK fortified its position in the market and provided its customers with long-term and attractive financial solutions in times when the companies had had borrowing difficulties. SEK broadened its product portfolio and introduced two new business areas, the latest being Trade Finance and Customer Finance. - We can look back on a turbulent year that saw great changes in the market, but where SEK could fortify its position at the same time as being a stable and reliable partner for its customers. SEK is doing more and more for its customers. In times of financial concern it is particularly important for the Swedish export sector, and thereby the Swedish economy as a whole, to have access to a stable actor like SEK, says Peter Yngwe, CEO of SEK. SEK's borrowing during the year has been very successful and the long-term borrowing totalled Skr 108 billion, an increase of 46.7 billion compared to the previous year. A number of larger issues were executed, including a 10-year global bond of USD 1.25 billion and a 3-year bond of Euro 1 billion, SEK's largest ever single borrowing. A total of 800 transactions were executed, a record for SEK. Overall, SEK's liquidity portfolio has increased. It is worth noting that SEK does not have any direct exposure to the US sub-prime market. Due to the release of the Year-end report SEK management will hold a telephone conference call on Wednesday, February 20th, at 3 pm. Those who wish to attend the telephone conference call can, no later than 3 pm, Tuesday February 19th, contact Carina Lindberg, Communications Officer +46 8 613 83 86, for instructions. For further details, please contact: Peter Yngwe, CEO, +46 8-613 83 00, or Johan Winlund, Head of Communication, +46 8-613 84 88. SEK's mission is to secure access to financial solutions for export and infrastructure. SEK offers a wide spectrum of financial solutions, ranging from standardized loans to innovative and complex financial products. SEK's operations are based on commercial interests. SEK's main source of financing is the issuing of bonds on the international capital markets. SEK's rating from Standard & Poor's and Moody's are AA+/Aa1 respectively for long-term debt. For more information, visit www.sek.se
SEK: Strong position on a turbulent market- Corrected
| Source: Svensk Exportkredit, AB