Landsvirkjun’s first quarter results

Core Insights - Landsvirkjun has experienced a recovery in operations following a temporary downturn in revenues due to challenging reservoir levels, with improved water levels resulting from heavy winter precipitation in Iceland [1] Financial Performance - First quarter revenues reached USD 162 million, reflecting a 13% increase compared to the same period last year [2] - Profit before unrealised financial items for the quarter rose by 18% year-on-year to USD 91 million, with an equity ratio of 67%, marking an all-time high for the company [3] - Cash flow from operations for the first quarter was USD 104 million, indicating strong operational performance [5] Financial Position - The company's financial position is robust, with a net debt to EBITDA ratio of 1.4 times, and net debt continues to decrease [3][5] - The company is well-positioned for upcoming construction projects, including the Vaðölduver wind farm and the expansion of hydropower stations [3]