Billionaire Daniel Křetínský’s Energy and Industrial Holding (EPH) reported a slight drop in revenue, declining to EUR 23.3 billion (approximately CZK 585 billion) from EUR 24 billion (roughly CZK 63 million) a year earlier. According to company spokesperson Daniel Častvaj, EPH’s operating profit (EBITDA) also dipped from EUR 3.6 billion (about CZK 90 billion) in 2023 to EUR 2.6 billion last year.
EPH characterized the past year as one of enhanced investment activity aimed at boosting long-term performance. “Our efforts culminated in the recently announced plan to increase our stake in Slovenské elektrárne, set for completion in the second quarter of 2025,” the company noted. Last December, EPH disclosed its agreement with Enel to expand its holdings in Slovenské elektrárne to 66 percent, while the Slovak government maintains the remaining stake. Final approval for EPH’s control of the Slovak utility was granted by the European Commission last month.
Subsidiaries under the EP Group banner posted preliminary, unaudited 2024 sales of EUR 34.5 billion (approximately CZK 866 billion), with an EBITDA of EUR 5.5 billion. No year-on-year comparison was offered, as last year’s acquisitions skewed direct contrasts, according to an EP Group statement.
The “EP Group Energy Segment” consists of EPH and EP Energy Transition, both engaged in electricity generation, natural gas transport and storage, as well as the distribution and supply of gas, heat, and power. Together, they also oversee commercial and logistics operations. In total, the segment produced 84.4 terawatt-hours (TWh) of electricity last year and managed power plants with a combined capacity of 25.9 gigawatts (GW) by year-end. Of that total, EPH alone generated 32 TWh and held 14.6 GW of installed capacity. EPH also operates gas storage facilities with a capacity of 64.4 TWh.
The EP Group Energy Segment’s preliminary operating profit for 2024 is roughly in line with figures from majority state-owned energy group ČEZ, which saw its own EBITDA reach CZK 137.5 billion, a year-on-year rise of CZK 12.6 billion.
“Thanks to significant investments in our development and strategic acquisitions, we have solidified our position as a major energy producer in Europe,” Křetínský commented. Among these moves was the purchase of a 30 percent stake in German energy firm LEAG from the PPF investment group, giving EP Energy Transition full control over LEAG.
Other milestones include the launch of a 647-megawatt gas-fired power plant in Kilroot, UK, and the recent completion of an 806-megawatt gas-steam facility in Tavazzano, Italy. Construction is also underway on an 881-megawatt gas-steam power plant in Ostiglia, Italy. The company reports adding 90 megawatts (MW) of solar power capacity and starting work on wind projects projected to reach 188 MW. Additionally, a 44-megawatt-hour battery storage system began operations in France, with further battery storage initiatives in Italy, the UK, France, and Germany totaling 1,645 MWh—half of which are already under construction.
