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September 02, 2015 8:55 AM ET

Diversified Financial Services

Company Overview of Eksportfinans ASA

Company Overview

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

Oslo,  0119

Norway

Founded in 1962

45 Employees

Phone:

47 22 01 22 01

Fax:

47 22 01 22 02

Key Executives for Eksportfinans ASA

Chief Executive Officer, President and Chairman of Credit Committee
Age: 63
Chief Financial Officer and Executive Vice President
Age: 49
Executive Vice President, Director of Legal & Compliance and General Counsel
Age: 69
Executive Vice President, Director of Staff and Secretary
Age: 51
Executive Vice President and Director of Risk Management
Age: 57
Compensation as of Fiscal Year 2015.

Eksportfinans ASA Key Developments

Eksportfinans ASA Announces Unaudited Earnings Results for the Second Quarter and First Half Ended June 30, 2015; Provides Earnings Guidance for the Second Half of 2015

Eksportfinans ASA announced unaudited earnings results for the second quarter and first half ended June 30, 2015. For the quarter, the company reported net interest income was NOK 123 million against NOK 111 million a year ago. Total operating loss was NOK 438 million against NOK 2,023 million a year ago. Pretax operating loss was NOK 473 million against NOK 2,054 million a year ago. Loss was NOK 344 million against NOK 1,498 million a year ago. Negative return on equity was 18.5% against 62.0% a year ago. Net return on assets and liabilities was 0.49% against 0.34% a year ago. For the first half, the company reported net interest income was NOK 224 million against NOK 231 million a year ago. Total operating loss was NOK 600 million against NOK 4,235 million a year ago. Pretax operating loss was NOK 668 million against NOK 4,337 million a year ago. Loss was NOK 486 million against NOK 3,164 million a year ago. Net cash flow from operating activities was NOK 4,709 million against NOK 6,702 million a year ago. Purchase of fixed assets was NOK 1 million against NOK 7 million a year ago. Negative return on equity was 12.9% against 60.3% a year ago. Net return on assets and liabilities was 0.41% against 0.34% a year ago. The board expects stable operations to continue in the second half of 2015.

Eksportfinans ASA Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Eksportfinans ASA announced unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, net interest income was NOK 101 million for the first quarter of 2015, compared to NOK 120 million for the first quarter of 2014. The lower net interest income was a result of the lower level of interest generating assets. Comprehensive loss was NOK 142 million for the first three months of 2015, compared to NOK 1,666 million for the same period of 2014. The negative figures were primarily due to the reversal of previously unrealized gains on Eksportfinans' own debt. Negative return on equity was 7.4% compared with 59.3% for the same period last year. This was also due to the debt-related reversal of previously unrealized gains described above. Total operating loss was NOK 162 million against NOK 2,212 million a year ago. Pre-tax operating loss was NOK 195 million compared with NOK 2,283 million for the same period last year. Net cash flow used in operating activities was NOK 2,170 million compared with net cash flow from operating activities of NOK 3,356 million for the same period last year.

Eksportfinans ASA, Annual General Meeting, Apr 16, 2015

Eksportfinans ASA, Annual General Meeting, Apr 16, 2015.

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