Strong cash generation and a historically high equity ratio.
Follows successful placing of a USD 200m green bond in 2018
The original power contract between the companies dates from the year 1975.
Net debt continues to decrease and the equity ratio strengthens.
The assets and transfer of the shares have negligible effect on the balance sheet and operations of Landsvirkjun.
Jónas Þór Guðmundsson re-elected chairman of the board.
S&P Global Ratings revises Landsvirkjun’s rating outlook from stable to positive on improved financial position.
Landsvirkjun owns 64.7% of Landsnet.
The Green Bond Pioneer Awards are the premier annual recognition of achievement by organisations, financial institutions, governments and individuals who have demonstrated leadership through pioneering initiatives and green issuance and have provided positive examples of climate resilient and low carbon investment in a diverse range of nations and markets.
Another record year for power generation and operating performance.
Operations have already begun in Blönduós and construction work to expand the data center is currently underway.
Revenue, EBITDA and profit increase between periods.
Landsvirkjun is number three on Creditinfo‘s list.
The EFTA Surveillance Authority (ESA) has concluded that state guarantees for Landsvirkjun's hedging derivatives did not involve state aid.
European Commission (EC) competition approval process has taken longer than anticipated.
Revenue, EBITDA and profit increase between periods.
Landsvirkjun has prepaid a loan with a state guarantee of collection with a nominal amount of 34 million USD.
Highest revenue quarter recorded in financial history of the Company.
The buyback reflects Landsvirkjun‘s strong financial position and is a part of reducing the company‘s debt, interest expenses and foreign exchange risk.
The filling of Hálslón reservoir started last Thursday. When the gates of the bypass tunnel were closed, the upper end of the river Jökulsá á Dal was gradually transformed into a reservoir.
Today, Landsvirkjun and the Icelandic/Polish Friendship Society signed a cooperation agreement which has the objective of promoting knowledge of Polish culture in Iceland and appreciation of multiculturalism in modern Icelandic society.
Landsvirkjun is underwriting the Icelandic Opera's production of Stravinsky's The Rake's Progress.
During the first six months of 2006, Landsvirkjun showed an operating loss of ISK 6.490 billion.
Landsvirkjun has recently worked on revising its profitability assessment for Kárahnjúkar Power Plant, the construction of which is now about 75% complete.
Landsvirkjun has issued bonds for 150 million euros, amounting to ISK 14.4 billion. This is under the company's framework agreement on European Mid-Term Notes.
On Alcoa's website in Brazil, information was recently posted about electricity prices for the Fjarðaál aluminium smelter, which is the smelter also associated with the name Reyðarál and located in the fjord of Reyðarfjörður, East Iceland). The Brazilian website stated that the price was USD 15 per MW. Actually, however, the base price is considerably higher.
The President of Iceland, Ólafur Ragnar Grímsson, laid the cornerstone of Kárahnjúkar Power Plant today, assisted by six children who had completed outstanding projects on the subject of electricity.
Last January, Landsvirkjun achieved the certification of its quality system. This certification marks a stage in the company's many years of work on quality issues.
Landsvirkjun, Landsnet (IceGrid) and RARIK (Iceland State Electricity) signed an agreement last week with the Icelandic Association for Search and Rescue, ICE-SAR, concerning a variety of actions and emergency assistance.
Landsvirkjun's annual consultation meeting today at Grand Hotel, Reykjavík
Norðurál (Nordic Aluminium) has reached an agreement with Landsvirkjun on the company's selling Norðurál short-term power during the period of 2006 to 2008.
On 10 March 2006, the company Orkusalan ehf. was established. The owners are three energy companies, RARIK (Iceland State Electricity), Westfjord Power Company and Landsvirkjun.
Landsvirkjun and Alcan today signed a declaration of intent on negotiating an energy sale contract to supply an expansion of the Straumsvík aluminium smelter.
Landsvirkjun has agreed with Alcan in Iceland to commence exclusive discussions on a power contract for enlargement of the Straumsvík aluminium plant. The discussions are expected to conclude before the end of this year.
The Boards of Directors of these three companies have determined to set up a joint retail business in the energy market.
The loan constitutes a step in the refinancing of an older, less favourable lending agreement.
Today, Friðrik Sóphusson and Hrafn Jökulsson, chairman of Hrókurinn Chess Club, signed an agreement on Landsvirkjun's providing support to Hrókurinn.
The number of factual mistakes made in WWF's study of Kárahnjúkar is a cause for concern.
The President of Iceland has presented the Managing Director of Landsvirkjun, Friðrik Sophusson, with the 2005 Award for Best Practice in Vocational Education and Training. This Award is intended for those found to accomplish exceptional work in the field of professional training.