Financial statements 2018
28.02.2019 - 0.4 MB
The role of Landsvirkjun is to maximise return from energy sources entrusted to the company with focus on sustainability, efficiency and value creation.
Amounts are in USD thousand
The offering was very well received, with an order book which was multiple times oversubscribed.
The ratings apply to long- and short-term commitments, with and without the guarantee of collection.
Acceptable results in challenging external conditions.
Landsvirkjun’s results for the first nine months of the year 2019.
According to Moody's, the upgrade reflects the continued improvement in the company’s credit profile.
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.
Revenue, EBITDA and profit increase between periods.
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.
Moody’s Investors Service has upgraded Landsvirkjun’s unguaranteed senior unsecured debt ratings from Baa3 to Baa2.
Landsvirkjun has reached an agreement with US and UK institutional investors to issue its debut US private placement (“USPP”) in Green Bond format, for a total amount of USD $200 million.
Record breaking year in energy production and operating performance.
Revenue increases between periods.
S&P Global Ratings confirms Landsvirkjun‘s credit ratings, with stable outlook.
Acceptable earnings in a demanding business environment.
S&P Global Ratings has upgraded Landsvirkjun‘s credit ratings.
Landsnet buys back outstanding bonds
Net debt continues to decrease while the company is currently constructing two power plants.
Affirmed Landsvirkjun's credit ratings at BBB-/A-3
Net debt continues to decrease
The construction of Theistareykir Geothermal Power Station
Net debt decreased by USD 205 million from the previous year.
Landsvirkjun has signed a new multi-currency revolving credit facility
Landsvirkjun has signed an ECA (Export Credit Agency) loan agreement in relation to a supply contract for two 45 MW geothermal turbines from Fuji Electric for the Theistareykir Geothermal Power Plant, scheduled to commence operation in 2017.
Landsvirkjun has issued a USD 5 million, 7-year bond.
Landsvirkjun, The National Power Company of Iceland, signed today ...
Equity ratio 42.2% and profit for the period was USD 63.9 million
Moody‘s credit rating agency has upgraded Landsvirkjun‘s ratings to Baa2 from Baa3 with a stable outlook.
58 megawatts (MW) for a metallurgical grade silicon metal production plant at Bakki
Net debt decreased by USD 238.7 million from the previous year
Rio Tinto Alcan Iceland and Landsvirkjun have today agreed on a modified power supply agreement to better reflect the power requirements of ISAL, Rio Tinto Alcan’s aluminium plant at Straumsvik.
Profit for the period amounted to USD 34.5 million
Standard and Poor‘s credit rating agency has changed Landsvirkjun‘s outlook from stable to positive. On July 18, Standard and Poor´s announced a similar change for the outlook of the Republic of Iceland´s credit rating.
Moody‘s credit rating agency has confirmed Landsvirkjun‘s credit rating at Baa3, stable outlook. Without the guarantee of collection the rating is Ba2.
Profit before unrealised financial items increased by 17.5% from the previous year
Landsvirkjun recently signed two agreements regarding restructuring of two outstanding bonds.
Decision in the hands of the Icelandic National Planning Agency
Landsvirkjun's results for the first six months of the year 2013
A private placement amounting to USD 30 million, equivalent to 3.6 billion ISK
Landsvirkjun now has two EMTN programmes for debt issuance
Change in outlook reflects that of the Republic of Iceland
Rio Tinto Alcan in Iceland has informed Landsvirkjun of a change
Landsvirkjun's debt continues to decrease
Reduced risk for the Icelandic economy following the EFTA Court decision in January and an overall improvement.
Satisfactory performance given the global economic conditions
- Debt continues to decrease
Agreements signed regarding redenomination of two loans.
The Trade Finance Magazine has announced and published Landsvirkjun´s ECA financing for Budarhals power station as Deal of the Year for 2011.
After thsi purchase Landsvirkjun holds all shares in Theistareykir hf.
Reduced debt and increased cash flow
Annual Report 2011 will be published in English in May 2012.
Landsvirkjun has signed a three year Revolving Credit Facility amounting to 10.5 billion Icelandic kronur (USD 86 million).
Landsvirkjun has signed a USD 200m three year multi currency Revolving Credit Facility, to replace a similar USD 400m Facility maturing in Dec. 2012.
An analysis of the outlook for Landsvirkjun from 2025 to 2035.
Today, Landsvirkjun signed a 7 year private placement amounting to USD 63.2 million.
Today, Landsvirkjun signed a 10 year private placement amounting to USD 70 million (some 8 billion ISK).