William Malcolm

E.ON CR Group Reports Strong Growth In 2020

Two key companies of the E.ON ČR group, the companies EG.D and E.ON Energie, had a total profit after tax of CZK 5.03 billion last year. The profit of both companies increased by about 500 million year-on-year. EG.D, formerly E.ON Distribuce, made a record investment last year. It follows from the annual report. The Economic Daily reported on the results today.

“Thanks to timely internal measures, we were able to keep the extent of the epidemic in our company and in the Czech E.ON Group under control and prevent community transmission (of coronavirus). Thanks to the efforts of our employees, we were able to meet the planned economic results. The Energy Regulatory Office on the conditions of the fifth regulatory period, negotiated acceptable conditions for us, and thus set a stable economic framework for business for the next five years,” said Zdeněk Bauer, Chairman of the Board of Directors of EG.D.

Revenues from the sale of products and services to the company increased by five percent year on year to CZK 20.5 billion last year. Operating profit rose 12 percent to 4.2 billion, net profit EG.D by almost 11 percent to 3.5 billion. By 2025, the company wants to invest over CZK 31 billion in substations, power lines, and smart technologies. EG.D owns and operates a distribution network in southern Bohemia and southern Moravia, and in the South Bohemian Region, it also owns a network of gas pipelines.

E.ON Energie supplies electricity and natural gas to end customers in the Czech Republic. According to Ekonomický deník, it is the second-largest player in the market in electricity. Last year, it increased sales by 2.5 percent to 50.8 billion crowns and net profit by 11.4 percent to 1.47 billion crowns. Last year, it supplied 10.3 terawatt-hours (TWh) of electricity and 7.7 TWh of natural gas to end consumers.

The Czech energy group E.ON has about 3,500 employees. Through its 66,000-kilometer distribution network, it supplies electricity to 1.1 million customers, mainly from southern Bohemia, Vysočina, and southern Moravia. Its market share is about 21 percent. It has a gas distribution network of more than 4,000 kilometers, supplies 110,000 consumption points and its share of the gas market in the Czech Republic is about 10.5 percent.