William Malcolm

EPH Reports Strong Performance Despite Pandemic

Despite the pandemic, Daniel Kretinsky’s Energetický a průmyslový holding, a.s. (EPH) was successful in the first half of this year. It increased sales to 4.2 billion euros (approximately 115 billion crowns) compared to 3.9 billion euros in the previous year’s first six months. Operating profit recorded a slight decrease to 616 million euros (about 17 billion crowns).

“The global downturn in economic activity has adversely affected commodity demand and prices, but the economic slowdown has had only a minimal impact on the EPH Group, due to a high share of regulated and long-term contracted assets such as transit, gas distribution and storage, electricity distribution energy and heat or the production of electricity from renewable sources, such as biomass,” EPH representatives said in the report.

In the 12 months ending July 2020, the energy group achieved consolidated revenues of 8.9 billion euros, which is 300 million euros more than in the whole of 2019. The Gross operating profit for this period stagnated at 2.1 billion euros.

EPH was founded in 2009. In 2017, Křetínský became the majority owner of the holding, which now holds 94 percent of the shares. EPH includes more than 70 companies in the Czech Republic, Slovakia, Poland, Germany, Hungary, Britain, Ireland, Italy, and France.

Last year, year-on-year operating profit EBITDA increased by ten percent to 56 billion crowns (2.1 billion euros), consolidated revenues then increased by more than a fifth to 230 billion crowns (8.6 billion euros).