Landsvirkjun Chooses Reval to Automate Treasury Management

Iceland’s Largest Electricity Generator to Manage Cash, Financial Risk and Reporting under IFRS

London – 5 December 2016 – Landsvirkjun, Iceland’s largest electricity generator and one of Europe’s leading renewable energy companies, has chosen the cloud-based power of Reval for automating treasury and financial risk management. The company will create a common cloud platform for managing cash positions and exposures across asset classes, including foreign exchange, interest rates and commodities.

“We wanted a ‘one-stop shop’ that could support all of our business requirements and allow us to respond easily to changes in the market,” explains Kristjan Gunnarsson, Treasurer at Landsvirkjun. “But it was also important for us to find a long-term partner, capable of supporting the business both now and into the future. We found that Reval provided both the solution and the expertise we were looking for in a provider.”

Landsvirkjun is using Reval to gain a clear picture of cash management, hedging and funding for better decision-making. The energy company will be using Reval for cash management, cash flow forecasting and reporting under IFRS, including CVA/DVA reporting for FX, IR and commodities.

“Landsvirkjun is a great addition to Reval’s client community,” says Mark Johnson, Managing Director for Reval in the EMEA region. “They are a model Nordic client for other treasury teams in the region considering cloud-based technology for their end-to-end treasury and risk management processes.”

Landsvirkjun, the National Power Company of Iceland, is owned by the Icelandic state and is the country’s largest electricity generator. The company generates around 70% of all electricity used in Iceland and offers electricity from 100% renewable energy sources.

About Reval

Reval is the leading, global provider of a scalable cloud platform for Treasury and Risk Management (TRM). Our cloud-based offerings enable enterprises to better manage cash, liquidity and financial risk, and to account for and report on complex financial instruments and hedging activities. The scope and timeliness of the data and analytics we provide allow chief financial officers, treasurers and finance managers to operate more confidently in an increasingly complex and volatile global business environment. With offerings built on the Reval Cloud Platform companies can optimize treasury and risk management activities across the enterprise for greater operational efficiency, security, control and compliance. Founded in 1999, Reval is headquartered in New York with regional centers across North America, EMEA and Asia Pacific.

For more information, visit www.reval.com or email info@reval.com.

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