Statement of Cash Flow
The Group’s cash and cash equivalent at year end 2017 amounted to USD 127 million but the development can be seen in the graph below. Cash flow from operating activities has sustained investments during the last years.
Investing activities amounted to USD 254 million but only USD 20 million were due to maintenance of the Company’s power stations and transmission systems. Free cash flow thus amounted to USD 258 million. The Company can for example use free cash flow for new investing activities, which amounted to USD 240 million, reduce debt or pay dividends to the owners. The focus remains on reducing the Company's debt.
Cash flow from operating activities has for the last few years covered investing activities. This means that after taking into account investing activities, there has been surplus cash flow provided by operating activities. This has been the prerequisite for Landsvirkjun’s ability to reduce its debt in the last few years.
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.