Landsvirkjun‘s Financial Statements 2024

Core Insights - Landsvirkjun's operational performance in 2024 was solid despite not matching the record results of 2023 due to challenging conditions, including historically poor water levels affecting power sales and revenue [1] - The company's financial position is robust, with a strong equity ratio of 66.2% and net debt at 1.6 times EBITDA, indicating a healthy balance sheet [4] Financial Performance - The profit from core operations for Landsvirkjun was USD 301 million in the previous year [4] - The Board plans to propose a dividend of USD 180 million to the state for this year, contributing to a cumulative dividend of USD 660 million from fiscal years 2021 to 2024 [4] Project Developments - Construction has commenced on the 120 MW Búrfellslundur wind farm and the 95 MW Hvammsvirkjun hydropower projects, addressing the urgent need for additional electricity capacity [2] - Plans are in place to start construction on expansions of the Theistareykir geothermal and Sigalda hydroelectric power plants in 2025, marking the first time the company undertakes four new projects simultaneously across three different energy sources [2]