EX-7.2 4 a2155469zex-7_2.htm EXHIBIT 7.2
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EXHIBIT 7.2


RATIOS OF EARNINGS TO FIXED CHARGES

Calculation of Ratios of Earnings to Fixed Charges
for SEK excluding the S-system
on the Basis of Swedish Accounting Principles

 
   Year ended December 31,
 
   2004
   2003
   2002
   2001
   2000
Fixed Charges:                    
  Interest expenses   4,253.7   3,675.4   4,040.2   6,081.0   6,451.6

Earnings:
 
 
 
 
 
 
 
 
 
 
  Net profit   439.6   427.5   479.7   540.7   601.8
  Taxes   172.2   167.8   184.7   188.3   228.1
  Fixed charges   4,253.7   3,675.4   4,040.2   6,081.0   6,451.6
   
 
 
 
 
    4,865.5   4,270.7   4,704.6   6,810.0   7,281.5
   
 
 
 
 
Ratio of earnings to fixed charges   1.14   1.16   1.16   1.12   1.13
   
 
 
 
 



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RATIOS OF EARNINGS TO FIXED CHARGES Calculation of Ratios of Earnings to Fixed Charges for SEK excluding the S-system on the Basis of Swedish Accounting Principles