Based on data from audited financial statements for the respective years

20232022202120202019201820172016
Key financial data(audited)(audited)(audited)(audited)(audited)(audited)(corrected)
Due to change of accounting policy on investments in venture capital funds and adoption of IFRS 9 requirements that effects the accounting of public funding risk coverage the comparatives for 2017 and 2016 have been restated.
(corrected)
Due to change of accounting policy on investments in venture capital funds and adoption of IFRS 9 requirements that effects the accounting of public funding risk coverage the comparatives for 2017 and 2016 have been restated.
Net interest income (EUR ’000)17 76516 974 16 71714 57211 56911 30211 60211 024
Operating profit (EUR ’000)17 81011 48413 8295 5398 1314 0928 7092 170
Profit for the period (EUR ’000)17 81011 48413 8295 5398 1314 0928 7092 170
Cost to income ratio (CIR)26.34%38.83%39.46%47.51%52.58%74.84%50.30%88.40%
Employees255234226211203222230242
Total assets (EUR ’000) 1 316 0861 099 588976 204850 704560 061495 939453 668443 400
Financial debt (EUR ’000)599 305458 382360 909342 490217 943177 249146 157141 854
Tangible common equity (TCE) / Total tangible managed assets (TMA)
TMA includes off-balance sheet item outstanding guarantees.
23.4%27.0%33.82%33.56%29.40%31.70%35.10%36.50%
Equity and reserves (EUR ’000)389 353395 983440 736382 594232 738221 590222 848210 406
Total risk coverage: (EUR ’000)370 211297 218285 954180 20587 45677 81567 59366 508
Risk coverage reserve 315 649230 524159 196112 56799 77885 27662 65163 636
Risk coverage reserve used for provisions(42 078)(38 039)(29 496)(28 197)(27 829)(19 268)(4 753)(4 323)
Portfolio loss reserve (specific reserve capital)96 587109 979159 700102 26415 50711 8079 6957 195
Portfolio loss reserve used to compensate provisions in the distribution of annual profit53(5 246)(3 446)(6 429)----
Liquidity ratio for 180 days
The calculation of liquidity ratio takes into account the previous experience and management estimate of the expected amount and timing of guarantee claims
430%366%518%464%582%227%482%449%
Net Cash flows from operating activities (EUR ’000)35 72489 53549 55521 96639 8137 997(10 146)34 518
Net Cash flows from financing activities (EUR ’000) 9 0093 52543 768165 80018 70012 01322 2995 560
Net Cash flow from investing activities (EUR ’000)(18 467)(8 437)4 553(4 016)(11 230)8 3073 891759
Support instruments gross value (EUR ’000), of which1 101 7971 064 821979 130872 302667 649553 628465 724
Financial instruments gross value (EUR ’000)
Taking into account the significance of the volume, the Land Fund portfolio, which consists of leaseback transactions and investment properties, is also presented in the operational volumes for the period. As in compliance with the accounting principles and IFRS the leaseback transactions are accounted for under the loans, the loan volume in this table has been reduced for the volume of the leaseback transactions as it is recorded under the Land Fund portfolio.
Loans (excluding sales and leaseback transactions)359 246 311 844315 674302 481225 144210 208207 065217 429
Guarantees480 025481 013414 978359 605284 232236 895182 376147 175
Venture capital funds97 45690 27785 97373 16568 33159 69862 29964 785
Land Fund, of which: 96 93880 54279 16368 25839 63421 71711 3284 635
- sales and leaseback transactions28 69227 08932 99931 50015 2686 923520-
- investment properties68 24653 45346 16436 75824 36614 79410 8084 635
Total1 033 665963 676895 788803 509617 341528 518463 068434 024
Number of transactions35 26033 79630 97826 57822 43718 60314 65511 561
Volumes issued (EUR ’000) (by financial instrument)
Taking into account the significance of the volume, the Land Fund portfolio, which consists of leaseback transactions and investment properties, is also presented in the operational volumes for the period. As in compliance with the accounting principles and IFRS the leaseback transactions are accounted for under the loans, the loan volume in this table has been reduced for the volume of the leaseback transactions as it is recorded under the Land Fund portfolio.
Loans (excluding sales and leaseback transactions)141 99395 820100 966138 23864 32059 60851 34959 465
Guarantees99 440153 067126 997137 42598 24088 76568 61556 109
Venture capital funds23 92018 52629 15814 0149 0224 1492 63821 356
Land Fund, of which:17 6767 41410 59528 19116 38410 8236 3593 704
- sales and leaseback transactions7 9163 1053 25416 7967 2396 835520-
- investment properties9 7604 3097 34111 3959 1453 9885 8393 704
Total283 029274 827267 716317 868187 966163 345128 961140 634
Number of transactions4 8466 5396 5796 1475 5595 5904 8394 537
Total contribution to economy, including the participation of the final recipients (EUR ’000)946 008765 577791 646696 306531 661460 045370 560359 706
Leverage for raised private funding229%123%177%114%142%162%185%162%
Volume of support programmes funding per employee (EUR ’000)4 0544 1183 9643 8083 0412 3812 0131 793
Long-term rating assigned by Moody’s Investors ServiceBaa1Baa1Baa1Baa1Baa1Baa1Baa1-

Definitions of ratios

Net income from interest
Operating profit
Cost to income ratio (CIR)
Financial debt
Tangible common equity (TCE) / Tangible managed assets (TMA)
Total risk coverage
180-day liquidity ratio
Support instruments gross value
Total contribution to the economy, including the participation of the final recipients, by volumes issued in the period
Leverage for raised private funding
Employees
Volume of support programmes funding per employee
Venture capital

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