Svensk Exportkredit
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Svensk Exportkredit (SEK) investor relations material

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Svensk Exportkredit Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Jan, 2026

Executive summary

  • High business activity in 2025 with Skr 126 billion in new credit and guarantee agreements, among the highest in history, despite a challenging geopolitical environment.

  • Lending portfolio decreased to Skr 263 billion, mainly due to currency effects; sustainability-classified lending increased to Skr 56.3 billion.

  • Net interest income fell to Skr 2,719 million, and net profit dropped to Skr 1,183 million, impacted by lower interest rates and increased credit loss provisions.

  • Return on equity declined to 4.9% from 7.1% year-over-year.

Financial highlights

  • Net interest income for 2025 was Skr 2,719 million (down from Skr 3,058 million in 2024).

  • Operating profit was Skr 1,491 million (2024: Skr 2,121 million); net profit was Skr 1,183 million (2024: Skr 1,683 million).

  • After-tax return on equity was 4.9% (2024: 7.1%).

  • Basic and diluted EPS was Skr 296 (2024: Skr 422).

  • Proposed dividend of Skr 473 million (2024: Skr 1,673 million).

Outlook and guidance

  • Board set new financial targets, reinforcing focus on long-term value creation.

  • Government increased SEK’s credit facility with the Swedish National Debt Office to Skr 175 billion for 2026.

  • Positive sentiment among Swedish exporters, with 44% expecting increased order intake in 2026.

Explain Q4's significant credit loss increase
Reconcile high new commitments with portfolio decline
How will the increased credit facility be deployed?
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Next Svensk Exportkredit earnings date

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Q1 202627 Apr, 2026
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Frequently asked questions

Svensk Exportkredit (SEK), also known as the Swedish Export Credit Corporation, is a state-owned enterprise dedicated to supporting Swedish exports. SEK offers a range of financial solutions aimed at promoting Swedish exports by providing financing to Swedish exporters, their subsidiaries, and their international customers. The corporation's services include project finance, export credits, factoring services, leasing and installment plans, contract guarantees, green loans, foreign currency loans, and working capital loans. Founded in 1962, SEK operates with the goal of facilitating international trade and the export of capital goods and large-scale infrastructure projects, playing a significant role in Sweden's economic ecosystem. The company is headquartered in Stockholm, Sweden, and its shares are not publicly traded as it is a state-owned entity.

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