Value for the Future

Landsvirkjun's financial position is stronger than ever due to effective operational actions in recent years.


Acceptable earnings in a demanding business environment

The Company's results are acceptable, given the demanding market environment. Aluminium prices remained low during the year and several customers purchased less volume than expected. Profits decreased from the previous year whilst debt continued to decrease. Investments in new power stations were ongoing.

More on the financial statement


Operating revenue

USD 420m 0%


USD 302m -6%

Cash flow from operations

USD 230m -8%

Sold volume

TWh 13.6 -2%

Free cash flow

USD 211m -10%

Profit before unrealised items

USD 118m -10%

Net dept

USD 1,960m -1%

Equity ratio

- 45.4% 0.7%


"Energy resources are not inexhaustible. We must therefore utilise them in the most efficient way possible. "

Hörður Arnarson, CEO

CEO‘s statement

"Iceland’s image is intertwined with
the image of renewable and clean energy.”

Jónas Þór Guðmundsson, Chairman of the Board

Chairman‘s statement


Green accounts

Environmental issues are at the heart of our operations and we have published separate Green accounts and environmental reports since 2006. This year, these reports are included in the Company's Annual Report in a new format and with an increased emphasis on environmental issues.

More on environmental issues


Carbon footprint

TONNES 25,166

Deep re-injection of separated
water from the Krafla station

TONNES 4,640,000

Planted vegetation

PLANTS 206,846

Number of clean-energy
vehicles in fleet

8%7% last year

Good water inflow in October

Temperatures were warm all over the country in the first few months of the water year 2015-2016. Temperatures were generally above average. There were high precipitation levels in the first half of October and temperatures rose towards the end of the month.

More on the water budget and resources


The water levels at Landsvirkjun‘s reservoir sites (by month) can be seen here. Click on the different months above to access information on the power station and water budget.