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Good performance in a demanding business environment

February 22, 2016
Icelandic media and analysts attended Landsvirkjun's financial statement presentation.

Hordur Arnarson CEO and Rafnar Larusson CFO gave a financial statement presentation at Landsvirkjun's headquarters today. Among the key points in the presentation:

  • Last year's performance was good, in a demanding business environment, as 2015 was marked by decreasing aluminum prices and market uncertainty.
  • Record volume sold contributed to a good result, as Landsvirkjun's profit before unrealized financial items is up 45% in the period since 2010.
  • Net debt is now below USD 2,000m for the first time since 2005 and down USD 838 million since 2009.
  • At the beginning of the year 2016 Landsvirkjun’s credit rating was transferred to investment grade.

Financial statement presentation.

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