The two largest Czech energy trading companies in 2022 recorded an unprecedented increase in profits. While Pavel Tykač’s Sev.en Commodities earned almost 23.7 billion crowns, EP Commodities from Daniel Křetínský’s EPH 19.5 billion. In both cases, according to the published annual reports, the value is roughly ten times higher than in the previous year. None of the companies has yet published last year’s result, but it is certain that it will be considerably weaker. Especially due to the fact that both energy players, due to the introduction of an extraordinary tax and an unpredictable business environment, moved most of their trading activities outside of their Czech companies and started trading much more through foreign ones.
Both companies attribute the extraordinary result to large price movements on the energy market. “The management of Sev.en Commodities in 2022 was primarily affected by significant market fluctuations in commodity prices, especially gas, on foreign markets, as well as our ability to react to this complex situation and take business risks,” described Sev.en Group spokesperson Gabriela Sáričková Benešová.
2024-01-18 17:00:00
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