EP ENERGY’s results for 2011

2.7.2012

The EP ENERGY Group recorded an income of CZK 39.3 billion in 2011. Its EBITDA amounted to CZK 7.3 billion. In particular the gift tax on emission allowances, lower heat sales, and lower electricity prices were negatively reflected in profit generation. EP ENERGY’s investments totalled CZK 2.06 billion in 2011. For 2011, EP ENERGY, a.s. paid corporate income tax of CZK 665 million in the Czech Republic.

EP ENERGY reports EBITDA at CZK 7.3 billion for 2011, down by approximately CZK 1 billion year-on-year. In particular the gift tax on emission allowances, in which EP ENERGY Group companies paid a total of CZK 323 million to the State in 2011, produced a negative impact. Heat sales were lower by approximately 3 PJ (in the Czech Republic), mainly due to the higher ambient temperatures in winter and in turn, lower heat consumption, which was reflected unfavourably. The other causes of the drop in profit included electricity price reductions in 2011 and lower sales of brown coal from the MIBRAG Group, caused by the Lippendorf power station taking lower quantities of this coal because of its temporarily curtailed operation, due to maintenance at the power station.

“We expect the EP ENERGY Group’s results to return to the 2010 profit level this year,” said Jan Špringl, CEO and member of the Board of Directors of EP ENERGY.

As at the end of-2011, EP ENERGY’s assets stood at CZK 57.5 billion (the results are stated on a pro forma basis).

EP ENERGY is a vertically integrated energy utility covering the complete value chain from coal extraction to electricity and gas supply for final customers. EP ENERGY is the largest supplier of thermal energy and the second largest electricity producer in the Czech Republic. The co-generation capacities of Elektrárny Opatovice (EOP), Pražská teplárenská, United Energy (UE), MIBRAG, and Plzeňská energetika (PE) and the renewable capacities of EP ENERGY have a total electrical capacity of 1,054 MWe and a capacity of 4,716 MWt for heat production.

Through its combined heat & power generation plants, EP ENERGY supplies heat in the Czech Republic to approximately 360,000 households and also for corporate, municipal and institutional customers. EP ENERGY places third in brown coal mining in Germany, where it operates MIBRAG, a company whose output amounted to 19 million tonnes last year.

EP ENERGY is a wholly-owned subsidiary of ENERGETICKÝ A PRŮMYSLOVÝ HOLDING (EPH). The shareholding structure of EPH is composed of the PPF Group (40% of shares) and the J&T Group (40%); Daniel Křetínský holds 20% in EPH and is currently responsible for its management.

The EP ENERGY Group has a total of 4,400 employees.