Finnvera's year 2024

Welcome to Finnvera Group’s Annual Report 2024. On this page you will find a summary of the year’s highlights, key figures and our PDF reports.
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CEO’s review

Year 2024 was marked by sluggish economic growth, and this was also reflected in Finnvera’s financing. On the other hand, we were already working on deals that will go ahead in 2025–2026, says CEO Juuso Heinilä.

Finnvera’s result was strong in 2024. Client satisfaction was also very high.

We believe that in 2025, the economy will have taken a turn for the better. And we believe that Finnish companies’ export transactions will pick up, and that businesses will also be able to expand their operations in Finland. We estimate this will also be reflected in Finnvera’s financing, and clearly more export financing will be granted than in the previous year. 

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PDF publications

Finnvera Group's Report of the Board of Directors and Finacial Statements 2024 (PDF)

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Finnvera's Business operations and Sustainability 2024 (PDF)

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Statement on the Corporate Governance and Steering System and Remuneration 2024 (PDF)

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Exposure by sector: Loans and guarantees

Finnvera's exposure for domestic loans and guarantees was EUR 2.9 billion (2.6). Of the exposure, the share of industry increased to 59%. The share of services to businesses was approximately one fifth, and the share of trade and consumer services 14%. The share of tourism was 7%. 

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Exposure by sector: Export credit guarantees, export guarantees and special guarantees

Exposure for export credit guarantees, export guarantees and special guarantees was EUR 21.1 billion (23.4). The total share of the largest sectors, cruise shipping, pulp and paper and telecommunications, accounted for 78% of the exposure. Of the total exposure, the share of cruise shipping is one half. Of the exposure, 32% are related to export companies’ future deliveries.

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Export credit guarantee, export guarantee and special guarantee exposure by risk category

Of the export credit guarantee and special guarantee exposure, altogether 32% (32) were in risk categories BBB-­ or in better risk categories. The amount of guarantee losses was higher than average, mainly due to two larger loss compensation amounts. Finnvera covers some of its liabilities through both reinsurance and bilateral agreements.

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Key figures

Domestic financing

LOANS AND GUARANTEES GRANTED
 

EUR 0.9 bn 
(1.8)

NUMBER OF CLIENTS AT YEAR END
 

21,100
(23,100)

Export financing

EXPORT CREDIT GUARANTEES AND SPECIAL GUARANTEES GRANTED

EUR 2.9 bn
(5.5)

EXPORT CREDITS GRANTED
 

EUR 0.6 bn
(0.5)

Finnvera Group

RESULT
 

EUR 228 bn
(433)

BALANCE SHEET TOTAL
 

EUR 14.8 bn
(14.3)

This is how Finnvera creates value

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Take a look at Finnvera’s Sustainability report

At Finnvera, sustainability has been integrated comprehensively into the company’s strategy and operations. Sustainability aspects are addressed in decision-making at all levels, and they guide the operations towards a sustainable future. Along with climate change mitigation, biodiversity will become another priority area of Finnvera's sustainability. Sustainability measuring and reporting was remarkably developed in 2024, and for the first time, Finnvera calculated it’s carbon handprint. 

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Financed export emissions by sector

Of Finnvera’s carbon footprint, the share of financed emissions was up to 99.97%. The amount of financed export emissions totalled to 4.1 Mt CO2e (4,9). The biggest sectors were mining and metals, pulp and paper and cruise shipping. The financed emissions decreased by 15% from the previous year. The calculation is based on 2023 data.

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Financed domestic emissions by sector

The financed domestic emissions totalled to approximately 0.8 Mt CO2e (1.0). Of the emissions, 72% came from industry. From services to business came 13% and from trade and consumer services 7% of the emissions. The total share of other sectors was less than 10%. The calculation is based on 2023 data.

Lue lisää

Level of financing reduced from previous year, expectations of future demand positive

Finnish economy and Finland’s key export markets were affected by a downturn, which dampened Finnish export companies’ prospects.  While interest rates dropped and inflation decreased, geopolitical uncertainty persisted. The amount of Finnvera’s domestic financing and export financing decreased from the reference period. We believe that the economy will have taken a turn for the better. We estimate this will be reflected as an increase in Finnvera’s domestic and export financing in 2025.

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A successful year for Finnvera - The result was EUR 228 million

The Finnvera Group’s result was EUR 228 million (433). Finnvera also built up its reserves for possible future losses. The business outlook for the cruise shipping sector, which is important for Finnvera’s export credit guarantee exposure, has continued to improve. Repayments have also helped to reduce exposure relating to Russia.

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