Highlights

Despite ongoing volatility in financial markets, EFIC has again delivered strong results for the year ended 30 June 2011.

Supporting export contracts and overseas investments of over $3.4 billion.
Providing over 100 facilities worth $593.1 million.
Profit on Commercial Account of $30.2 million.
High demand for bonding lines from companies involved in international construction and infrastructure projects saw EFIC deliver over 45% of signings in dollar value to the construction industry. This was followed by ship building and repair services at just under 18 per cent.
EFIC’s SME team had another year of strong growth. There were 90 facilities signed worth $136.7 million across a wide range of products and sectors.
In addition, there has been strong SME uptake of EFIC’s two new products released in May 2010: the foreign exchange facility guarantee provided through Travelex; and the Producer Offset loan. At 3O June 2011, 19 SMEs had taken up the foreign exchange facility guarantee.
In 2010, EFIC re-introduced the export working capital guarantee and signed agreements with ANZ and Westpac to support exporters’ financing requirements. At 30 June 2011, EFIC provided 16 working capital guarantees, worth $54.4 million.
EFIC also supported exports to Pakistan under a landmark risk-sharing agreement with the Asian Development Bank to boost Australian trade with developing economies in South Asia.

2011 Annual Report