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2019-08-16 16:20:52 CEST 2019-08-16 16:21:04 CEST REGULATED INFORMATION Landsvirkjun - Half Year financial reportHalf year interim resultsStrong cash generation and a historically high equity ratio Key figures from the interim financial statements
Hörður Arnarson, CEO: ”The operation of Landsvirkjun’s power stations went well during the first half of the year. The business operations continue to develop in the right direction and Landsvirkjun’s financial position continues to strengthen with profit before unrealised financial items increasing by USD 10 million compared with the same period of last year. Net debt decreases by USD 126 million during the first six months of the year resulting in the equity ratio surpassing 50% for the first time in the Company’s history. Operating revenues decease by 4% but this is countered by a substantial decrease in operating- and interest expenses and a 7% increase in cash from operating activities between years. Our largest customers are currently faced with a challenging operational environment due to developments on international commodity markets.” Attachments |
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