Landsvirkjun reports 8.7 billion króna quarterly profit

Landsvirkjun recorded a profit of 8.7 billion krónur from its core operations in the second quarter, while cash from operations amounted to 6.7 billion krónur, mbl.is reports.

The Icelandic energy company’s financial position remains strong, with an equity ratio of 61 per cent and leverage equivalent to 1.6 times earnings before depreciation and amortisation.

Revenue from electricity sales increased by 19 per cent year on year. Landsvirkjun said the rise was mainly due to higher electricity prices for large users following an increase in aluminium prices.