Solid results of reykjavik energy in 2018 iceland stock exchange or electricity generation by country

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Orkuveita Reykjavikur gas x ultra strength directions’s (OR; Reykjavík Energy) consolidated financial statements for 2018 reflect solid finances and sound operations in spite of fluctuating external conditions. This is the result of a firm grip on operating cost and growing revenues during the year stemming from increased energy production and demand for utility services. Operating income grew by 5.2% compared to 2017, while operating expenses increased by only 0.1%. Operating profit, EBIT, grew by more than 1 billion ISK between 2017 and 2018.

OR’s Consolidated Financial Statements were approved by the Board of Directors today. The BoD electricity production in usa also decided to propose to the Company’s annual general meeting a payment of dividend of 1,500 million ISK. Along with the financial statements, OR simultaneously publishes its Annual Report. It transparently describes the environmental aspects of the wireless electricity how it works operations in 2018, climate effects, social factors, governance, as well as finances over the course of the year.

A cold and rainy year for Reykjavik Energy’s main operating area diminished the production of cold water – used for example for watering – while for the first time, geothermal heating water demand exceeded 100 million cubic metres. There are considerable investments ahead to meet the growing need for water for district heating and to ensure the quality of drinking water from the Heidmörk water reserves. In Iceland, construction of new housing is growing f gas logo and the number of tourists and customers in the competitive markets are on a constant increase as well. Furthermore, balancing the energy production at the Hellisheidi Geothermal Power Plant and the capacity of the geothermal areas that it utilises is continuously improving, resulting in increased energy 76 gas card login production. In sum, increased production and increased demand for the services of the companies within the OR Group – Veitur Utilities, ON Power and Reykjavik Fibre Network – are yielding growing revenues year-on-year. Aluminium prices declined in 2018, the impact of which is calculated in the financial statements. Nonetheless, the bottom-line result for the year was positive by nearly 6 billion ISK grade 9 electricity test questions. This is a significant change from the previous year when the development of aluminium prices was favourable.

Once again, we see a solid grip on the operations of the Reykjavik Energy Group, delivering good results for the companies. The culture that we have worked so hard to institute regarding cost is one of the most valuable assets that Reykjavik Energy possesses. This has been supported by our targeted work on hedging which has allowed us to manage changes gas dryer vs electric dryer operating cost in external conditions. These allow us to present OR’s consolidated financial statements to the business owners with considerable pride.

As before, customers will benefit from favourable returns. Based on the decisions of the municipalities that own Reykjavik Energy, customers will benefit from profit surpluses. Prices of many of OR’s services have been reduced or have remained unchanged in recent years. If we maintain the sharp focus we have on our operating 8 gas laws expenses, other things equal, this trend will continue.

The OR 2018 Annual Report is an integrated report, compiled in accordance with the ESG standards co-developed by stock exchanges gas near me prices and the United Nations. It describes climate impacts of OR’s operations, other environmental impacts, corporate governance, and various matters of social responsibility. The OR 2018 Annual Report is only published on-line.