Diversified Financial Services
Company Overview of Eksportfinans ASA
Eksportfinans ASA provides long-term financing services for the Norwegian export sector in Norway, other European countries, the Americas, and internationally. It manages a portfolio of government supported and market-based export credits. The company provides loans to the oil and gas and maritime sectors; municipal sector; and renewable energy, environmental protection, and infrastructure sectors, as well as offers loan administration services. Eksportfinans ASA was founded in 1962 and is headquartered in Oslo, Norway.
Dronning Mauds Gate 15
PO Box 1601 Vika
Founded in 1962
Key Executives for Eksportfinans ASA
Chief Executive Officer, President and Chairman of Credit Committee
Chief Financial Officer and Executive Vice President
Executive Vice President, Director of Legal & Compliance and General Counsel
Executive Vice President, Director of Staff and Secretary
Executive Vice President and Director of Risk Management
Compensation as of Fiscal Year 2014.
Eksportfinans ASA Key Developments
Eksportfinans ASA, Annual General Meeting, Apr 16, 2015
Apr 16 15
Eksportfinans ASA, Annual General Meeting, Apr 16, 2015.
Eksportfinans ASA to Report Fiscal Year 2014 Results on Apr 16, 2015
Mar 25 15
Eksportfinans ASA announced that they will report fiscal year 2014 results on Apr 16, 2015
Eksportfinans ASA Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Audited Consolidated Earnings Results for the Year Ended December 31, 2014
Feb 13 15
Eksportfinans ASA reported unaudited consolidated earnings results for the fourth quarter and audited consolidated earnings results for the year ended December 31, 2014. For the quarter, the company reported interest and related income of NOK 525 million compared to NOK 667 million a year ago. Net interest income was NOK 120 million compared to NOK 172 million a year ago. Total operating income was NOK 120 million compared to total operating loss of NOK 2,268 million a year ago. Pre-tax operating loss was NOK 23 million compared to NOK 2,334 million a year ago. Loss for the period was NOK 74 million compared to NOK 1,603 million a year ago. Negative return on equity was 4.9% compared to 50.2% a year ago. Net return on average assets and liabilities was 0.42% compared to 0.54% a year ago.
For the year, net interest income was NOK 461 million for 2014, compared to NOK 697 million for 2013. The change was due to the lower level of interest generating assets combined with reduced margins on investments. Comprehensive income according to IFRS was negative NOK 4,314 million for 2014, compared to negative NOK 4,850 million for 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 130 million in 2014, compared to NOK 566 million in 2013. The profit was affected by reduced net interest income and high pension expenses in 2014 as well as the significant positive income effect in 2013 due to an Icelandic High Court ruling in favor of Eksportfinans. Negative return on equity was 43.5% compared to 33.4% a year ago. Net return on average assets and liabilities was 0.36% compared to 0.46% a year ago. Purchases of fixed assets were NOK 18 million compared to NOK 24 million a year ago. Net cash flow from operating activities was NOK 22,253 million compared to NOK 49,692 million a year ago.
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