Profit

Finnvera’s preliminary result for 2021 is profitable

Stock market press release January 19, 2022
Finnvera plc, inside information

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

The Finnvera Group’s preliminary result for 2021 is profitable, as no new material loss provisions for export credit guarantees had to be made during the year and no material terminal losses were realized. The preliminary result includes currently known loss estimates for high-risk subjects.

The coronavirus pandemic is causing further exceptional uncertainty in financial performance for 2022.

Previously announced financial outlook for 2021

In its press release dated December 22, 2021, Finnvera estimated, in accordance with the half-yearly report from January to June 2021, that the uncertainty caused by the corona pandemic as well as the economic prospects of Finnvera’s individual high-risk subjects are the factors keys to the evolution of financial performance in 2021.

The outlook published in the January-June 2021 half-year report of August 11, 2021 was as follows:

“The dissipation of the uncertainty caused by the pandemic is a key driver for the development of financial performance in 2021. If the economic development and business operations of Finnvera’s high-risk individual subjects return to a sufficient growth trajectory, this which will limit or reduce significant provisioning and loss recognition entries, it is possible that the Finnvera Group result for 2021 will show a profit. If, on the other hand, the economy and business operations recover at a slower pace, the Group result could even show a significant loss, as was the case in 2020.”

Publication of the report of the board of directors and the financial statements

The report of the board of directors and the financial statements of the Finnvera group from January 1 to December 31, 2021 will be published on February 16, 2022.

Further information :

Pauli Heikkilä, CEO, tel. +358 29 460 2400
Ulla Hagman, Chief Financial Officer, tel. +358 29 460 2458

Distribution:

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