EP ENERGY GROUP RESULTS FOR 2017
In 2017 EP Energy’s consolidated revenues reached EUR 1,833 million, IFRS consolidated EBITDA totalled EUR 380 million, which is by 30% higher than in 2016.
The Heat Infra segment generated revenues of EUR 555 million, with an EBITDA of EUR 153 million that is up by more than EUR 8 million compared to the previous year. Better results stem predominantly from higher power prices and positive influence of weather pattern leading to higher heat offtake, almost fully balancing out heat deliveries disposed by selling off Pražská teplárenská LPZ in June 2016, which comprised of several non-strategic heating assets. In December 2017, EP Energy successfully finalized purchase of minority shareholding in Pražská teplárenská from Prague municipality, which increased the Group’s shareholding in this strategic asset to 98%.
The Power Distribution and Supply segment reached revenues of EUR 1,425 million and EBITDA of EUR 223 million – up by EUR 74 million – positively influenced by accounting for compensation of losses reported by the SSE Group as a result of subsidies paid by SSE Group to renewable energy producers, which are compensated to the SSE Group with a delay.
The Renewables segment, significantly smaller compared to the previous two segments in terms of installed capacity and resulting economic performance, remains an important part of our diversified portfolio.
In June 2017 Fitch affirmed the EP Energy’s Group rating at BB+ with stable outlook.
For complete performance details refer to report published at: www.epenergy.cz/en/investors/reports/rok2017-2/