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February 10, 2016 1:54 AM ET

Diversified Financial Services

Company Overview of Eksportfinans ASA

Company Overview

Eksportfinans ASA manages a portfolio of government supported and market-based export credits in Norway, other European countries, the Americas, and internationally. It offers export-related loan portfolio consisting of contract financing, such as supplier and buyer credits, and project financing; financing of international and export related activities; and acquisition of loans from banks. The company also provides long-term financing of Norwegian local governments. 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 Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Eksportfinans ASA reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, net interest income was NOK 75 million against NOK 110 million last year. Total operating income was NOK 325 million against total operating loss of NOK 1,388 million last year. Pre-tax operating income was NOK 297 million against pre-tax operating loss of NOK 1,419 million last year. Profit was NOK 218 million against loss of NOK 1,035 million last year. Return on equity was 12.7% against negative return on equity of 50.4% last year. The reduction is primarily due to a lower level of interest generating assets. For the nine months, net interest income was NOK 299 million against NOK 341 million last year. Total operating loss was NOK 275 million against total operating loss of NOK 5,623 million last year. Pre-tax operating loss was NOK 371 million against pre-tax operating loss of NOK 5,756 million last year. Loss was NOK 268 million against loss of NOK 4,199 million last year. Net cash flow from operating activities was NOK 17,000 million against NOK 9,433 million last year. Purchases of fixed assets were NOK 1 million against NOK 16 million last year. Return on equity was negative at 4.4% against 56.4% last year. The lower net interest income was a result of the lower level of interest generating assets combined with reduced return on investments partly offset by extraordinary income. Profit excluding unrealized gains and losses on financial instruments amounted to NOK 161 million for the first three quarters of 2015, compared to NOK 113 million for the first three quarters of 2014. The profit was positively affected by extraordinary income as reported in the financial results for the first half of 2015, in addition to an actuarial gain of NOK 17 million after tax in the third quarter of 2015 related to pension commitments.

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.

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