Key figures from the financial statements
 ISK figures are calculated on the basis of the exchange rate USD 127.
Hordur Arnarson, the CEO:
The Company's financial standing improved from the previous year, which is mainly explained by increased income due to renegotiations on energy prices and increasing aluminium prices.
As a result of decreased debt and improved cash flow in the year key ratios for the Company's financial strength continue to develop in the right direction, though the Company is still not able to stand the comparison with foreign energy companies and meet requirements of foreign credit rating agencies. It is therefore important that we continue to improve these key ratios even further in the next years.
The project of Budarhals power plant is now underway and the power plant is estimated to become operative at year end 2013. The Company's next projects will be situated in North-East Iceland, where this year, significant preparation work for the power plants of Bjarnarflag and Theistareykir is being carried out.
The Company has met considerable interest from both new and older customers to buy electric power but the situation in the world economy can have a significant influence on when agreements will be reached.
Landsvirkjun's Annual Report 2011 will be published in English in May 2011.