Finnvera Group reported a solid operating result of €365 million in 2025, with all business areas profitable, but the final profit after repaying €349 million in state fund commitments stood at €16 million, down from €228 million in 2024. Domestic and export financing volumes increased notably throughout the year, reflecting improved demand from Finnish SMEs and exporters despite earlier economic headwinds. The outlook for 2026 remains positive, particularly in export sectors like cruise shipping, with expectations of continued growth in financing needs.
Finnvera Group Report of the Board of Directors and Financial Statements 2025
Finnvera, Finland’s state-owned specialized financing company and export credit agency, navigated a dynamic 2025 with robust underlying operational strength. The group focused on supporting Finnish businesses through loans, guarantees, and export credit guarantees, enabling growth, internationalization, and job creation amid a recovering economic landscape.
The operating result reached €365 million, underscoring efficient risk management, favorable credit quality, and steady net interest income combined with controlled expenses. All core business segments—domestic financing, export financing, and related guarantee operations—delivered clear profitability. This performance highlights Finnvera’s resilience and its critical role in bridging market gaps for SMEs and exporters.
A major adjustment to the bottom line came from the repayment of €349 million in previous state guarantee fund commitments, as mandated by regulatory and ownership guidelines. This one-time outflow significantly reduced the reported profit to €16 million, a sharp decline from the prior year’s €228 million. However, this repayment reflects prudent capital management and alignment with state ownership expectations rather than operational weakness.
Financing volumes showed healthy expansion. Domestic financing targeted startups, growth-oriented SMEs, and internationalizing companies, with a strong emphasis on sectors driving renewal and competitiveness. In line with strategic priorities, a high percentage—around 92%—of domestic offerings went to these high-impact categories, fostering innovation and employment in Finland.
Export financing benefited from improving global demand, particularly in capital-intensive industries. The business outlook for cruise shipping companies strengthened considerably during the year, reducing credit loss risks in that exposure-heavy segment. Overall export commitments and new guarantees rose, supporting Finnish companies in securing large-scale international projects.
Quarterly developments illustrated steady progress. Early in the year, financing volumes increased from prior periods, with the first quarter showing positive momentum. By mid-year, the half-year result stood strong, and through the first nine months, results accumulated to around €360 million before final adjustments. This trajectory points to consistent execution across the organization.
Risk management remained a cornerstone of operations. Credit loss risks stayed contained, aided by diversified exposure across sectors and geographies. The group’s balance sheet stayed solid, with total assets reflecting the scale of outstanding commitments in export credits and domestic loans.
Strategic advancements continued in sustainability and governance. Finnvera enhanced its reporting practices and integrated environmental, social, and governance factors more deeply into decision-making. Efforts focused on green transitions, social impact through business support, and transparent corporate practices.
Looking ahead, the outlook for 2026 appears encouraging. The cruise shipping sector’s recovery is expected to sustain positive momentum, while broader export markets show signs of stabilization. Domestic investments, subdued in prior periods, are anticipated to rebound as economic confidence builds. Finnvera stands ready to meet rising demand, continuing its mission to bolster Finnish exports and domestic growth.
Key financial highlights for 2025 include:
Operating result: €365 million
Profit for the period (after fund repayment): €16 million
Significant increase in offered financing volumes compared to 2024 levels
Strong performance across all business areas
Repayment of €349 million in state fund commitments
These figures demonstrate Finnvera’s ability to generate substantial value through its core activities while fulfilling obligations to its state owner.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment recommendation, or official endorsement. Readers should conduct their own research and consult professionals for decisions related to investments or financing.