Finnvera Oyj

A positive profit warning: Finnvera's preliminary result for 2021 is profitable

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Stock Exchange Release 19 January 2022 Finnvera plc, Inside information

Finnvera Group's preliminary result for 2021 is profitable as no new significant export credit guarantee loss provisions had to be made during the financial period, and no material final losses were realised. The preliminary result includes currently known loss estimates for high-risk subjects.

The coronavirus pandemic causes still exceptional uncertainty in the financial performance for 2022. 

Previously announced financial outlook for 2021

In its Stock Exchange Release on 22 December 2021 Finnvera estimated in accordance with the Half-Year Report for January‒June 2021, that the uncertainty caused by the corona pandemic as well as the economic outlook of Finnvera's individual high-risk subjects are the key factors in how the financial performance will develop in 2021.

The outlook published in the Half-Year Report for January‒June 2021 on 11 August 2021 was as follows:

”The dissipation of uncertainty caused by the pandemic is a key factor in how financial performance will develop in 2021. If the economic development and the business operations of Finnvera's individual high-risk subjects are back on a sufficient growth path, which will thus limit or reduce significant loss provision and loss recognition entries, it is possible that the Finnvera Group's result for 2021 will show a profit. If, on the other hand, the economy and business operations recover at a slower pace, the Group's result may show even a significant loss, as it did in 2020.”

Publication of the report of the Board of Directors and the Financial Statements

Finnvera Group’s report of the Board of Directors and the Financial Statements 1 January‒31 December 2021 will be released on 16 February 2022.

Further information:

Pauli Heikkilä, CEO, tel. +358 29 460 2400
Ulla Hagman, CFO, tel. +358 29 460 2458

Distribution:

NASDAQ Helsinki Ltd, London Stock Exchange, the principal media, www.finnvera.fi/eng

Avainsanat

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Tietoja julkaisijasta

Finnvera Oyj
Finnvera Oyj
Porkkalankatu 1
00180 HELSINKI

029 460 11http://www.finnvera.fi

Finnvera provides financing for the start, growth and internationalisation of enterprises and guarantees against risks arising from exports. Finnvera strengthens the operating potential and competitiveness of Finnish enterprises by offering loans, guarantees and other services associated with the financing of exports. The risks included in financing are shared between Finnvera and other providers of financing. Finnvera is a specialised financing company owned by the State of Finland and it is the official Export Credit Agency (ECA) of Finland. https://www.finnvera.fi/eng

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