EFIC Annual Report 2012 (PDF 3,104kb)

Highlights

Despite ongoing volatility in financial markets, EFIC has again delivered strong results for the year ended 30 June 2012.

• Supporting export contracts and overseas investments of over $4.5 billion.
• Providing over $1 billion of facilities – the first time that EFIC surpassed the $1 billion mark in its export finance business.
• Profit on Commercial Account of $26.8 million.
• EFIC’s SME and Mid Market team experienced another year of strong growth, signing 95 facilities worth $195.5 million, or over 90 per cent of total facilities.
• EFIC’s Structured Trade and Project Finance team continued to experience solid demand from large corporates, entering into facilities totalling $784.4 million.
• Strong demand from the mining sector, which accounted for just over 60 per cent of new signings by dollar value.
• Manufacturing was the main industry supported in terms of number of transactions, accounting for 32 signings (or 31 per cent of total signings)
• In response to the growing number of companies providing services for the export of resources, EFIC expanded support for contractors and subcontractors providing services for export-related projects.
• EFIC partnered with online foreign exchange company OzForex and specialist currency services provider HiFX to expand its foreign currency offering.
• The Producer Offset loan continued to be a success. EFIC supported films including the Indigenous production, Satellite Boy, and the political thriller, Last Dance.