Net debt decreased by USD 205 million from previous year
Landsvirkjun performed well in 2015 despite the demanding business environment and low aluminium prices. The Company achieved sales of 13.9 TWh of electricity in 2015 which is a record high. Net debt has decreased by USD 838 million since year- end, 2009 and continues to decrease.
Landsvirkjun's results will, as before, for the most part be subject to the development of aluminium prices, interest rates and foreign exchange rates. Landsvirkjun's income is partlylinked to aluminium prices and changes in world market aluminium prices will therefore continue to have an effect on Landsvirkjun's future income. The price of aluminium has lowered significantly and this will have a negative effect on Landsvirkjun's operating results. Half of the Company's loans have floating interest rates and continued low interest rates are therefore important for operations.
Here you can download Landsvirkjun’s financial statements for the year 2015. This includes Landsvirkjun’s entire Financial Statement in Acrobat (pdf) and key figures in Excel (xls).