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Finnvera Group Reduces Prospects for Helsinki 2020 Stock Exchange: FVA

Profit Warning: Finnvera Group Reduces Prospects for 2020

Stock market exit on July 1, 2020 at 12 p.m.
Finnvera Plc, inside information

In its report from the board of directors and its financial statements published on February 26, 2020, the Finnvera group estimated that its operations should remain self-sufficient in 2020 and that the development of realized and expected credit losses involves uncertainty, which can have a considerable impact impact on the generation of the result.

The coronavirus pandemic is causing exceptional uncertainty in the outlook. According to current financial forecasts, the calculated impact of macroeconomic indicators on expected credit losses, among other factors, should affect the result of the Finnvera Group so that the activities of the Group are not profitable in 2020.

At the end of 2019, unrestricted equity and the State Guarantee Fund covering a deficit in the results of the Finnvera group totaled 1.9 billion euros.

The Finnvera group’s semi-annual report January 1, June 30, 2020 will be published on August 21, 2020.

More information:
Pauli Heikkil, CEO, tel. +358 29 460 2400
Jussi Haarasilta, Executive Vice-President, Deputy Director General, tel. +358 29 460 2601
Ulla Hagman, CFO, tel. +358 29 460 2458

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