News Column

Eksportfinans’ first half-year 2014 financial results

August 21, 2014

Eksportfinans continued its stable operations in the first half-year of 2014. Liquidity is good and the capital base is solid. Oslo, Norway, 2014-08-21 14:34 CEST (GLOBE NEWSWIRE) -- Net interest income was NOK 231 million for the first half-year of 2014, compared to NOK 379 million for the first half-year of 2013. The change was a result of the lower level of interest generating assets combined with reduced return on investments due to the stabilization of the financial markets. Comprehensive income according to IFRS was negative NOK 3,164 million for the first six months of 2014, compared to negative NOK 2,532 million for the same period of 2013. The negative figures were primarily due to the reversal of previously unrealized gains on Eksportfinans’ own debt. Profit excluding unrealized gains and losses on financial instruments amounted to NOK 81 million for the first half-year of 2014, compared to NOK 216 million for the first half-year of 2013. The profit was negatively affected by reduced net interest income. Total assets amounted to NOK 96 billion at June 30, 2014, compared to NOK 101 billion at December 31, 2013. The reduction was in line with expectations and due to the limitations on new lending business since 2011 as well as repayments on the current debt portfolios. The core capital adequacy ratio was 39.0 percent at June 30, 2014, compared to 36.8 percent at December 31, 2013. At the end of the first half-year of 2014, the company had liquidity reserves totaling NOK 39.3 billion. Eksportfinans’ financial reports are available on www.eksportfinans.no. A conference call is scheduled for Thursday August 21, 2014 at 10:00am NY / 3:00pmLondon / 4:00pm CET Please join by calling: -- Local - China: +86 1059 045 018 -- Local - Japan: +81(0)3 5767 4604 -- Local - Norway: +47 2316 2729 -- Local - Singapore: +65 6622 1942 -- Local - Switzerland: +41(0)44 580 7214 -- Local - UK: +44(0)20 3427 1917 -- Local - USA: +1 212 444 0481 Participant pass code: 5079635 Please dial-in to the call 5 minutes early as dialer registration will be required. The call will be recorded and a replay made available. President and CEO GisÈle Marchand, •tel: +47 22 01 23 70 / +47 415 17 489, •e-mail: gma@eksportfinans.no EVP Director of Staff / Communications Elise LindbÆk, •tel: +47 22 01 22 64 / +47 905 18 250, •e-mail: el@eksportfinans.no EVP Chief Financial Officer Geir Ove Olsen, •tel: +47 22 01 23 05 / +47 900 92 326, •e-mail: goo@eksportfinans.no Copyright © 2014 OMX AB (publ).


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Source: OMX


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