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November 30, 2017 10:00 am | FILED UNDER: business

Daniel Kretinsky’s EPH Turnover Up 33% Through September

By ČTK

Prague, Nov 29 (CTK) – EP Energy group raised its consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) annually by a third to Kc6.6bn in the first nine months of this year, while its sales dropped by 2.8 percent to Kc32.9bn, EP Energy said on its website today.

 

The results are based on international accounting standards.

 

EP Energy is the biggest heat supplier in the Czech Republic. In controls Elektrarny Opatovice, Prazska teplarenska, Plzenska energetika, and United Energy.

 

EP Energy operates also in Slovakia, and it supplies electricity and gas to end customers via its subsidiary EP Energy Trading.

 

EP Energy is owned by EP Infrastructure (EPIF), a subsidiary of Energeticky a prumyslovy holding (EPH) energy and industry group.

 

Entrepreneur Daniel Kretinsky has become EPH’s majority owner this year, holding 94 percent of shares. Entrepreneur Patrik Tkac and investors linked with the J&T group have left EPH.

 

Australian bank Macquarie’s investment fund bought 31 percent of EPIF this year.

 

This year, EPH has acquired two steam-gas power plants with the installed output of 2,300 megawatts (MW) in Britain, and German black coal-fired power plant Mehrum with the installed output of 750 MW.

 

The installed output of Temelin, the Czech Republic’s biggest nuclear power plant, is some 2,000 MW.

 

Last week, EPH said it is buying British company RVA Group providing decommissioning, decontamination, dismantling and demolition consulting. The price of the transaction has not been published.

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