Good performance in a demanding business environment
February 22, 2016
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.