The interim financial statements for 30 June 2010 of HS Orka hf. were approved
at a Board of Directors meeting 30 August 2010.
The comprehensive income for January - June 2010 amounts to loss of ISK 2,464
million compared to profit of ISK 612 million for the same period in 2009.
Since the beginning of the year aluminum prices decreased significantly.
Therefore, the future value of power sale agreements to aluminum smelter (fair
value changes of embedded derivatives) has decreased by ISK 4,104 million
during period compared to an increase of ISK 814 million during the same period
in 2009.
Foreign exchange gain for the period amounted to ISK 597 million compared to
loss of ISK 947 million for the same period 2009.
Equity ratio was 34.5%, whereas it was 33.5% at the beginning of the year 2009.
HS Orka hf. interim financial statement as well as the detailed press release
can be seen in attachments.
