Correction: Annual Financial Statements of Orkuveitan | Robust Growth and Solid Performance

Core Insights - Orkuveitan reported a 45% increase in profit for 2024, reaching ISK 9.3 billion, and proposed a dividend of ISK 6.5 billion [1] - The Group's revenue grew by 9.2% year-on-year, while operating expenses increased by 8.8% [2] - Cash flow from operations rose to ISK 29.1 billion, marking a 6.0% increase, and total investments reached ISK 30.9 billion, up by 5.8% [2] Financial Performance - The consolidated financial statements for 2024 show a significant profit increase and a strong dividend proposal [1] - Revenue and operating expenses both saw positive growth, indicating a healthy operational environment [2] Sustainability Initiatives - Orkuveitan emphasizes sustainability, aligning its operations with the EU Taxonomy Regulation and achieving a "dark green" rating for its green financing activities [3] - The company aims for net-zero emissions by 2030, with a new CO₂ capture facility expected to triple its carbon capture capacity [5][6] Energy Production Strategy - The company is focusing on enhancing energy production, particularly in geothermal and wind energy, as part of its overarching strategy [4] - New low-temperature geothermal areas have been identified, and demand for district heating services has surged significantly [5] Telecommunications and Infrastructure - Ljósleiðarinn is enhancing its telecommunications infrastructure through mergers and aims to improve profitability [7] - The company is positioned to safeguard national infrastructure amidst changing international circumstances [7] Social Responsibility and Equality - Orkuveitan has achieved a gender balance with women comprising over one-third of its workforce [8] - The annual report includes a focus on biodiversity and ecological restoration efforts [9] Future Outlook - The company plans to continue investing in infrastructure and innovation, with a focus on renewable energy and societal interests [10] - Strong operational results and development initiatives are expected to create further opportunities in various sectors [11]