The Efic Annual Report 2013-14 can be downloaded as a PDF by clicking on the link below.
Efic Annual Report 2014 (PDF 3,970kb)
Responding to the needs of the small business export community Efic again delivered strong results for the year ended 30 June 2014.
• In total, Efic provided over 230 facilities, valued at $576.6 million supporting over $2.1 billion of export contracts and overseas investments in 27 countries.
• profit on Commercial Account was $24.2 million, well above our budgeted profit of $17.6 million.
• Efic’s SME team experienced another year of strong growth, signing 206 facilities worth $89 million, supporting over 184 export contracts worth nearly $600 million.
• around 90% of all transactions now support SMEs, up from 80% last year.
• new CEO, Andrew Hunter joined Efic in July 2013 and was officially appointed to the role of Managing Director and CEO in September 2013.
• increase in our SME business origination team in Brisbane, Melbourne and Perth, which will allow us to offer SMEs even more support, especially in regional areas where many Australian exporters are based.
• Efic continued to make it easier for Australian exporters to conduct business. We introduced an accelerated execution process and simpler documentation for SME transactions, reducing transaction processing time. We also lowered our minimum support thresholds allowing Efic to to support smaller, emerging exporters.