Finances and operations

Landsnet performed well in 2015 despite fairly challenging operating conditions and damage to infrastructure caused by heavy weather. Profit amounted to over ISK 4 billion, up from ISK 3.8 billion in 2014. Earnings before interest and taxes (EBIT) were up by ISK 1.3 billion year-on-year, primarily driven by a favourable exchange rate impact. The majority of the company’s revenue is generated in US dollars, whose rate has been strong. Landsnet paid off ISK 7 billion in debts during the year to reduce the cost of capital.