Landsvirkjun has put great emphasis on decreasing debt in the last years. Net debt is interest bearing debt after deducting the Company’s cash and cash equivalent. The Company has invested extensively in recent years but in the year 2017 investments amounted to USD 254 million. The most prominent are the constructions of two power plants, Þeistareykir and Burfell II. The Company’s cash flow from operations amounted to around USD 278 million and thus sustained in full investments of the year. Despite this, net debt increased by around USD 82 million from the beginning of the year which can mainly be explained by weakening of the USD against other main currencies.
You can download the Financial Statements for 2017 in electronic form here. The documents contain the financial statements as a whole in Acrobat (pdf) document and the key figures in an Excel (xls) document.