William Malcolm

EPH Reports Flat Profit In 2020

The operating profit EBITDA of the Energeticky a Prumyslovy Holding (EPH) of the entrepreneur Daniel Křetínský last year stagnated at 2.1 billion euros (53.8 billion crowns) year-on-year. Consolidated sales fell by 1.2 percent to 8.5 billion euros (217.6 billion crowns). 

According to EPH, the results were affected by the sale of Pražská teplárenská and its stake in the Hungarian heating plants Budapesti Erömü, otherwise the group’s EBITDA would increase year-on-year.

“In a very challenging pandemic situation, we were able to continue to satisfy all the energy needs of our customers throughout Europe and at the same time we were able to further improve the economic results of our business,” said Daniel Křetínský, CEO and majority shareholder of EPH.

The companies that are part of the EPH group employ around 25,000 people. The holding includes over 70 companies throughout Europe. According to last year’s ranking of Forbes magazine, Křetínský is one of the richest Czechs with assets worth 78 billion crowns. EPH was founded in 2009.

Last December, the Slovak financier and one of the founders of the J&T group, Patrik Tkáč, returned to the shareholder structure of EPH. It currently owns 44 percent minus one share of the holding. The majority share still belongs to Křetínský and a group of managers who hold 56 percent and one share in EPH. Křetínský, who exercises managerial control over the holding, indirectly owns 50 percent of the company’s shares and one share.