Landsvirkjun

Financial performance of Landsvirkjun during first half of 2004

30. August 2004

Cash from operations totalled ISK 2,694 million, compared to 3,151 million in 2003.

In ISK millions, the key figures in the half-year financial statement are as follows:

 

Group

 

Parent company

 

Jan.-June
2004

 

Jan.-June
2004

Jan.-June
2003

Operating revenue

6.838

 

6.780

6.446

Operating expenses:

 

 

 

 

Operating and maintenance expenses

2.265

 

2.264

2.163

Depreciation

2.596

 

2.568

2.528

Net financial expenses

2.622

 

2.593

275

Profit (loss)

(645)

 

(645)

1.480

 

30.06.2004

 

30.06.2004

31.12.2003

Total assets

149.287

 

147.856

133.997

Liabilities

109.107

 

107.676

92.817

Equity

40.180

 

40.180

41.180

 

jan.-júní
2004

 

jan.-júní
2004

jan.-júní
2003

Cash provided by operations

2.694

 

2.623

3.151

Investments

10.100

 

10.082

9.018

EBITDA

4.573

 

4.516

4.283

Equity ratio

26,9%

 

27,2%

30,7%

Return on equity

-0,4%

 

-0,4%

7,7%

The principal new construction occurring during the first six months of the year was connected with Kárahnjúkar Hydropower Project. At the end of June, the company's total assets amounted to ISK 149.3 billion, and the equity ratio stood at 26.9%.

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