EP ENERGY RESULTS FOR THE FIRST HALF OF THE YEAR 2013
- In the half of the year 2013, which still benefits from strong first quarter due to seasonality, the consolidated sales reached EUR 935.1 million, consolidated EBITDA EUR 220.3 million and net consolidated debt amounted to EUR 900.3 million
- Financial performance remained good in all segments in the first half of the year 2013
- Long term group financing secured through two outstanding bond issues.
Benefiting from EP Energy’s low risk profile, we report consolidated EBITDA of EUR 220.3 million in the first half of the year 2013, representing approximately 26% increase compared to the first half of 2012. This can be attributed mainly to the changes in the consolidation scope, colder weather conditions and better performance of the Mining segment which is mainly caused by application of a new IFRS rule.
In the area of financing, in our continued effort to maintain an optimal capital structure for the EP Energy’s group and to secure stable long-term financing, which we achieved through the EUR 500 mln bond maturing 2019 and EUR 600 mln bond maturing 2018.
There have been no material changes in the group in the first half of 2013.
We remain focused on maintaining and improving our risk-profile and exploring further synergies across the group.
EP Energy, a.s. (”group or Group or EPE“) is vertically integrated energy utility that includes 59 companies. In 2012 the Group was the leading heat supplier in the Czech Republic, the second largest power generator in the Czech Republic and the third largest lignite mining company in Germany. Group benefits from relatively low exposure to market developments, as significant majority of EBITDA is generated by regulated assets or assets with long term off take contracts. The key operations are located in the Czech Republic and Germany, with smaller activities also in the Slovak Republic.
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