Energetický a průmyslový holding, a.s. has been assigned investment grade ratings from two major rating agencies

29. 8. 2023

Energetický a průmyslový holding, a.s. (“EPH” or “Group”) is proud to become one of very few privately owned Czech based groups (together with CETIN a.s. and EP Infrastructure, a.s.1), which has been assigned with two investment grades, namely from S&P Global Ratings (BBB-) and Fitch Ratings (BBB-), both with a stable outlook.

EPH is a leading European energy group that owns and operates assets in the Czech Republic, the Slovak Republic, Germany, Italy, Ireland, the UK, France, the Netherlands and Switzerland. EPH is a diversified and vertically integrated energy utility covering the complete value chain ranging from highly efficient cogeneration, power and heat generation, natural gas transmission, gas storage, as well as gas, heat and electricity distribution and supply. The scope includes also trading and logistics platforms and gas infrastructure management. The Group employs more than 10,000 people and currently operates a total installed capacity of 14.3 GWe.

EPH principally benefits from (a) a large, diversified and vertically integrated asset base; (b) its stable and predictable highly cash-generative business; (c) focus on regulated, contracted and/or quasi-regulated activities; (d) primary presence in countries of Western Europe, the Czech Republic and Slovakia; and (e) resilience against different risk factors thanks to a negative correlation among the key business segments within the Group.

Pavel Horský, Chief Financial Officer of the Group, commented on the outcome: “We are thrilled to announce that our Group has achieved a significant milestone by obtaining inaugural investment grade ratings. This accomplishment reflects our long-term conservative financial strategy with a defined clear path to energy transition with low complexity CAPEX projects and responsible management. These ratings underscore not only our current financial strength but also our future potential. We are excited about the opportunities that lie ahead and remain committed to sustainable growth and to all our stakeholders.”

In the 2022 financial year, EPH reported EBITDA of EUR 4.3 billion with revenues reaching EUR 37 billion.

Cap Structure Ltd and SMBC Group acted as Ratings Advisors to EPH.

 

 

1  CPI Property Group; CTP N.V. and Czech Gas Networks Investments S.à r.l. are also investment grade rated companies with significant assets in the Czech Republic, but with headquarters outside the Czech Republic

 

 

Disclaimer

This communication contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Group. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “targets”, “may”, “aims”, “likely”, “would”, “could”, “can have”, “will” or “should” or, in each case, their negative or other variations or comparable terminology. Forward-looking statements may and often do differ materially from actual results. The Group’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward- looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. As a result, undue influence should not be placed on any forward-looking statement.

This communication, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to this communication, including but not limited to any forward-looking statements, and will not publicly release any revisions it may make to the information contained herein that may consist of or result from any change in the Group’s expectations, revised objectives, any change in events, conditions or circumstances on which any forward-looking statements are based, or other events or circumstances arising after the date of this communication.

A credit rating is not a recommendation to buy, sell or hold any securities and may be revised, suspended or withdrawn by the rating agency at any time.