OR Loses Billions In 2012

Published March 22, 2013

Orkuveita Reykjavíkur (OR) has reported loses of 2.3 billion ISK in 2012 despite having made 14.7 million ISK in operating profit, RÚV reports.
The reason for the loss is apparently tied to the decrease in the price of aluminium and the fall in value of the króna over the course of the year.
The operating revenue of OR has increased by 6.6% since 2010 while operating expenses have declined by 8% over the same period of time. OR also recently completed the sale of Perlan for 950 million ISK and have been authorized to sell their headquarters for 5.1 billion ISK.



News
Government Gearing Up To Accept More Asylum Seekers

Government Gearing Up To Accept More Asylum Seekers

by

The Prime Minister announced he will soon form a special committee to re-assess how many asylum seekers Iceland will accept

News
Akureyri: Town Or City?

Akureyri: Town Or City?

by

A recent seminar held in Akureyri sought to answer the question that has plagued Icelanders for years: is Akureyri a

News
Iceland’s Finance Minister Amongst Ashley Madison Users

Iceland’s Finance Minister Amongst Ashley Madison Users

by

Minister of Finance Bjarni “Icehot1″ Benediktsson was amongst Ashley Madison’s millions of users, reporters have found. His wife’s account of

News
Flooding Strikes Siglufjörður

Flooding Strikes Siglufjörður

by

Heavy and persistent rains have led to an emergency situation as the north Iceland town of Siglurfjörður deals with torrential

News
Iceland Sees Surge In Public Support For More Asylum Seekers

Iceland Sees Surge In Public Support For More Asylum Seekers

by

Icelanders across the political spectrum are showing increasing support for accepting more asylum seekers than the government originally planned. The

News
Drug Dogs Used On Secondary School Kids

Drug Dogs Used On Secondary School Kids

by

Police used drug dogs to search a group of first-year secondary school kids (aged 16) on their way on a

Show Me More!