The EFIC Annual Report 2011-12 can be downloaded as a PDF by clicking on the link below.
EFIC Annual Report 2012 (PDF 3,104kb)
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.