Finnvera's year 2022

Welcome to Finnvera Group’s annual report 2022. On this page you will find a summary of the year’s highlights, key figures and our PDF reports.

CEO’s review

Finnish companies were highly active in 2022, despite the impacts of the coronavirus pandemic, the Russian attack on Ukraine and the geopolitical uncertainty as well as inflation. Finnvera Group’s result for 2022 was EUR 55 million. The result was impacted by changes in the loss provision amounts. Sustainability and climate change mitigation are at the heart of Finnvera's strategy and increasingly integrated into our financing operations.

CEO’s review (PDF)

PDF publications

Download the reports describing Finnvera's year 2022 as PDF files.

 

Finnvera Group’s Report of the Board of Directors and Financial Statements (PDF)

Download PDF

Annual Review and Sustainability Report 2022 (PDF)

Download PDF

Statement on the Corporate Governance and Steering System 2022 (PDF)

Download PDF

Exposure by sector, Loans, guarantees and export guarantees

Finnvera's domestic financing exposure amounted to EUR 2.6 billion (2.9). Almost a half of the exposure in SME and midcap financing concern industry, approximately a quarter concern business services and almost a fifth the trade and consumer services sector. The share of tourism has remained at around 10%.

Read more about domestic financing (PDF)

Export credit guarantee and special guarantee exposure by sector

Finnvera’s export credit guarantee and special guarantee exposure was EUR 23.7 (22.4) billion. The largest sectors are cruise shipping, forest industry and telecommunications. Of the drawn exposure, Large Corporates’ cruise shipping exposure amounts to EUR 6.6 bn (5.4). Of the exposure, approximately 40% are related to export companies’ future deliveries.

Read more about export financing (PDF)

Export credit guarantee and special guarantee exposure by risk category

Altogether, 30% of the outstanding commitments relating to export credit guarantee and special guarantee operations were in risk category BBB-, which reflects investment grade, or in better risk categories. Finnvera has continuously developed its risk management as the total exposure has grown. The special features and industry concentrations of the Finnish exports have been taken into account.

Read more about export financing (PDF)

Key figures

Domestic financing


Domestic financing granted
 

EUR 1.1 bn

(1.7)

 


Number of clients at year end
 

24,400
(25,800)
 

Export financing


Export credit guarantees and special guarantees granted

EUR 5.8 bn

(4.3)


Export credits granted
 

EUR 0.9 bn

(0.7)

Finnvera Group


Result for the period
 

55 MEUR

(153)


Finnvera Group’s balance sheet
 

EUR 12.6 bn

(12.2)

This is how Finnvera creates value

Impact is the spearhead of Finnvera’s strategy, and with the help of our financing, our customers can increase their turnover and profits. Our vision is: Our clients' success strengthens the Finnish economy.

 

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More about value creation and strategy (PDF)

A stride forward in identification and reporting of climate impacts

One of Finnvera's main company-level goals in 2022 was developing the calculation and more extensive reporting of the emissions. The company was for the first time able to report not only its direct but also most significant indirect CO2 emissions based on data from the year 2021. Finnvera’s carbon print was 9 Mt CO2e of which 99.993% comprised of financed emissions.

Read more (PDF)

Highlights

The Finnvera Group’s result for 2022 EUR 55 million (153)

The result was impacted by changes in the amounts of credit and guarantee loss provisions. The loss provisions for exposure in Russia remained unchanged, the loss provisions made in the cruise shipping sector were reduced and the loss provisions for the domestic financing increased in the last quarter of the year.

Finnvera Group’s financial statements 2022 (PDF)

High volume of financing despite uncertain times

As a whole, domestic financing remained at a higher level than in the pre-pandemic period. Finnvera granted enterprises a total of EUR 1.1 (1.7) billion of domestic loans, guarantees and export guarantees. 

Read more (PDF)

Steady demand for export financing

Finnvera granted export credit guarantees and special guarantees amounting to a total of EUR 5.8 (4.3) billion, mainly for large corporates’ export transactions. The annual volume of export financing is always influenced by the timing of individual major export transactions.

Read more (PDF)

Finnvera's role and impact in society

Corporate responsibility and impact at the core of Finnvera's strategy. Finnvera plays an important role in Finnish society by facilitating Finnish enterprising. Finnvera's greatest impacts on the environment and people are generated through the industrial export projects financed by us.

Read more (PDF)