Billionaire Jaromír Tesara’s DK Holding Investments group, whose main field of business is water energy, made record profits last year.
Last year, the energy group DK Holding Investments of businessman Jaromír Tesara recorded a record net profit of 231.8 million euros (5.5 billion crowns). The year before, the group ended up with a loss of 35.3 million euros (about 840 million crowns). Sales also rose by almost 60 percent to 1.86 billion euros (44.3 billion crowns). This follows from the annual report of DK Holding Investments, which he was the first to draw attention to Economic Journal.
The unshakable position of the king of hydropower
The main field of DK Holding Investments is water energy. It has two smaller hydropower plants in the Czech Republic, the group has most of its assets abroad, specifically in Turkey, Georgia and Bulgaria.
Last year’s economic results include two new hydropower plants in Turkey, Alpaslan 2 (in the opening image) and Karakurt, which operated in full year-round mode for the first time last year. For these two power plants, which belong directly to DK Holding Investments, the profit before tax EBITDA was 84 million euros (over 1.97 billion crowns), the group’s spokeswoman Hana Hikelová said earlier. It was the group’s largest investment project to date.
Apart from the Turkish hydropower plants, most of the group’s other assets belong to Energo-Pro. According to the April report, last year it achieved an operating profit before depreciation and taxation (EBITDA) of 307.8 million euros (roughly 7.32 billion crowns). This is a year-on-year increase of 49 percent. Revenues from electricity production as well as electricity distribution and supply in Georgia contributed to the increase in profit. The group’s total revenues also increased by 61 percent year-on-year to 1.72 billion euros (about 40.96 billion crowns), thanks to higher energy prices on the market.
Energo-Pro was founded in 1994 in Svitavy. It owns and operates hydropower plants in four countries – in Georgia, Turkey, Bulgaria and the Czech Republic. In addition to hydropower, it is engaged in the distribution and sale of electricity and operates distribution networks in Bulgaria and Georgia with more than 2.3 million customers. The group also includes the manufacturer of turbines and machines for hydropower Litostroj Group. The total installed capacity of the company’s power plants is 857 megawatts, the annual production of electricity exceeds 2.5 terawatt hours. This year, the group also started the construction of a hydroelectric plant in Colombia, where it obtained all the necessary licenses last year.
The carpenter is according to last year ranking of Forbes magazine 13th richest Czech with assets worth 23.5 billion crowns.
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2023-07-12 15:42:00
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