Announcement of financial results 2021
EUROFIMA has closed the financial year 2021 with a strong balance sheet and a positive financial performance.
EUROFIMA’s balance sheet total decreased by EUR 1.1 billion (-6.5%) to EUR 15.9 billion. The decrease of the balance sheet total was a result of maturities in the lending portfolio.
EUROFIMA’s net profit for the financial year amounted to EUR 22.0 million, EUR 2.5 million below the level of 2020 (EUR 24.5 million). The growth of net commission income from lending activities has been offset by the low interest rate environment reducing net interest income from treasury activities.
No impairments were recognized during the year. As of December 31, 2021, all assets were fully performing. This represents the 65th consecutive year in which EUROFIMA has not experienced any losses due to railways not meeting their obligations.
In 2021, EUROFIMA concluded 6 contracts with 4 shareholders, or their affiliates, and provided additional funds based on previous frame agreement contracts, for the financing of railway equipment. With most of the funds being dedicated to electric multiple-unit trains and passenger cars, 2021 marked another example of EUROFIMA’s commitment to fulfilling its public mission for sustainable mobility.
EUROFIMA managed to raise a majority of these funds under the Green Bond Framework, which was updated in April 2021 and was recognized by Sustainalytics as fully aligned with the EU Taxonomy. EUROFIMA established two new green EUR lines maturing in April 2041 (EUR 250 million) and June 2028 (EUR 335.5 million), as well as an inaugural Swiss franc green bond maturing in December 2031 (CHF 200 million).
EUROFIMA was fully operational with its staff working from home during the months of the COVID-19 restrictions. Liquidity management and risk management remain considerate and prudent. A robust liquidity position, assets of highest quality, and a sound business plan ensure that the supranational organization goes through these challenging times safely.
The financial results 2021 have been approved by the 65th Annual General Assembly on 15th March 2022.
EUROFIMA in brief:
- Established in 1956 by a State Treaty signed by 25 European member States so far
- Public mission to support rail transport by financing investments in railway rolling stock
- Rated AA (Standard & Poor's), Aa2/stable (Moody's) and AA (Fitch)
You can find the link to the Annual Report here.
For more information, please do not hesitate to contact Harry Müller, Chief Executive Officer, email@example.com.