EP ENERGY GROUP RESULTS FOR 2018
In 2018, the EP Energy Group achieved revenues of EUR 1,838 million, with Adjusted EBITDA of EUR 327 million, at almost the same level as the previous year. As a response to the achieved results, Tomáš David, Chairman of the EP Energy’s Board of Directors, stated that “I am particularly pleased with the stability and robustness of our financial year 2018, once again showing the benefits of a regulated group of companies in producing consistent and predictable results.”
While the underlying business performance and profile of the Group remained very comparable to the previous period, the accounting results were influenced by the following factors:
- Accounting for compensation of losses resulting from subsidies paid by the SSE Group to renewable energy producers, which are compensated to the SSE Group with a delay. This adjustment is currently considered to be a shift of recognition of EBITDA to future periods.
- Impairment of assets recorded by Plzeňská energetika prior to its sale, disposal of unutilized non-core assets in 2017 and 2018 and sale of Plzeňská energetika on May 9, all being one off effects.
Please refer to the published „EP Energy Presentation FY2018“ for more details.