EPH describes last year’s result as a record, despite challenging market conditions. EP Power Europe (EPPE), which covers coal mining and electricity generation within the EPH, has made a significant contribution to growth.
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Its operating profit increased by 85 percent to 1 billion euros (24.42 billion crowns) from the previous year’s 0.5 billion euros.
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On the other hand, the holding’s second pillar, EP Infrastructure (EPIF), reported an operating profit 21 percent lower last year: 1.3 billion euros (approximately 31.75 billion crowns) compared to 1.6 billion euros a year earlier.
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The main reason was the slowdown in gas transmission caused by a reduction in the volume of supplies in combination with the sale of some heating companies in the last quarter of 2020.
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EPIF brings together EPH companies engaged in the transmission, distribution and storage of natural gas, as well as electricity distribution and heat production.
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“Lower gas flows to the EU, which negatively affected EPIF’s performance, led to an increase in the price of gas in the European market, which was the main driver of EPPE’s performance growth. The trend of strong EPPE growth continues in 2022, “said Daniel Křetínský.
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The Slovak financier and one of the founders of the J&T group, Patrik Tkáč, returned to the EPH shareholder structure in December last year. However, the majority share still belongs to Křetínský and a group of managers.
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