Landsvirkjun hf - Company Profile
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Business Description
Landsvirkjun hf (Landsvirkjun) is a state-owned energy company in Iceland. It conducts the generation and transmission of electricity. It also offers telecommunications services and undertakes the sales of technical and operational advisory services to third parties and manages general research work, which oversees research and projects for the company and its related companies.
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R&D Overview
R&D efforts focus on the preparation of new power projects and conducting research and monitoring of the existing power system. In FY2022, it spent US$14.7 million on R&D, which as a percentage of revenue, stood at 2.4%, which grew 23.5% YoY.
Business Segments
Overview
Generates electricity primarily from hydropower, along with other sources such as geothermal and wind power. Landsvirkjun sells electricity to retail sales companies and industrial users in Iceland. Also includes the operations of its Icelandic Power Insurance Ltd, which manages the insurance of the company's power stations.
Performance
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Overview
Includes the operation of its subsidiaries Orkufjarskipti hf and Landsvirkjun Power ehf. Orkufjarskipti hf owns and operates a telecommunications system throughout the country and provides rent access to the system as well as associated operations. Landsvirkjun Power ehf undertakes the sales of technical and operational advisory services to third-parties and manages general research work, which oversees research and projects for the company and its related companies.
Performance
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