Consolidated EPH (together with its subsidiaries, the “Group”) sales reached EUR 18.9 billion last year (compared to EUR 8.5 billion in 2020), EBITDA increased by 5% to EUR 2.3 billion (compared to EUR 2.1 billion in 2020) and Free Cash Flow totalled EUR 1.4 billion (compared to EUR 1.3 billion in 2020). Record performance together with a cautious approach to indebtedness resulted in Net Leverage around 2 x (flat year-on-year), a very conservative level compared to industry peers.
EPH’s last year’s record results were mainly driven by EP Power Europe (EPPE), which showed an 85% increase in EBITDA to EUR 1.0 billion (compared to EUR 0.5 billion in 2020), compensating for the slight decrease in EBITDA of EP Infrastructure (EPIF) by 21% to EUR 1.3 billion (compared to EUR 1.6 billion in 2020).
said Daniel Křetínský, CEO and controlling shareholder of EPH.
Investments in sustainable power generation lead to a significant reduction in CO₂ intensity
Following massive investments in new technologies and decommissioning or transformation of traditional coal power plants, the emission intensity factor (measured as tons of CO2 emitted per GWh of energy produced) decreased by astonishing 40% over the past seven years. Throughout the last year, the Group continued to invest considerable amounts in zero- or low-emission projects such as the construction of modern gas-fuelled powerplants in Italy and Northern Ireland, the increase in the share of biomass in the fuel mix by Plzeňská teplárenská, a.s. and continued progress in implementing more than 3GW of renewable projects made by EP New Energies in Germany. These steps are fully in line with our main objective to become carbon neutral by 2050.
added Daniel Křetínský.
EPH remains a stable and resilient partner even in challenging times
The transformation of the Group’s activities is not happening at the cost of security of energy supply and affordability for customers. The turbulent developments in the energy market in the last quarter of 2021 have shown that the Group’s operations are part of the key energy infrastructure in Europe and their reliability is critical for the functioning of the entire electricity supply system of western and central Europe. It is our main mission to remain a stable partner for households, businesses, municipalities and governments even in the most difficult environment.
The events happening just at our border in the first months of 2022 have already dwarfed all the challenges of the past year. We stand behind the people of Ukraine. The Group will deploy its financial resources and offer a helping hand to those who flee the warzone through the EP Corporate Group Foundation in the Czech Republic and the EPH Foundation in the Slovak Republic. Time will show what other support will be required and we stand ready to help those who need it most.
For more information, please visit https://www.epholding.cz/en/annual-reports/