EPH results for 2018
29. 6. 2019
Energetický a průmyslový holding, a.s. (“EPH”) managed to further improve its financial and operational results also in 2018. Consolidated EPH sales reached EUR 7 billion last year (compared to EUR 6 billion in 2017), Adjusted EBITDA* totalled EUR 1.9 billion (comparable with 2017).
The total consolidated net debt ratio** was approximately 2.6 times EBITDA. The group’s stable performance, resulting from the high share of regulated and long-term contracted infrastructure assets of the group complemented by highly efficient biomass plants in the UK and Italy as well as high conversion of group EBITDA into cash flow, contributed to low level of consolidated debt. In this respect, the Group is fully comparable to European investment grade rated companies.
The above-mentioned results do not include performance of assets that are under joint control, which, according to the international financial reporting standards (IFRS), are not reflected in the consolidated figures (these include namely our shares in LEAG and Slovenské elektrárně).
In terms of operational indicators in 2018, companies under EPH transmitted more than 59 bcm and distributed almost 5 bcm of natural gas, distributed more than 6 TWh of electricity, delivered over 26 PJ of heat, and used almost all of their natural gas storage capacity of 61 TWh. Power plants operated by EPH produced 105 TWh of electricity last year, ranking EPH as the sixth largest European electricity producer.
* The Adjusted EBITDA indicator represents the operating profit before depreciation and amortisation and negative goodwill further adjusted for selected effects of predominantly one-off and non-cash nature and partially reflects pro-forma impact of acquisitions realized in 2018.
** Calculated based on Adjusted EBITDA
EPH Annual Report 2018 is available here.