Lidovky.cz: EPH net earnings at CZK 522m in 2009

Prague, July 29 (CTK) - Czech company Energeticky a prumyslovy holding (EPH) netted Kc522m on Kc7.22bn sales in 2009, revenues from sales of electricity, gas and heat at nearly Kc4bn, the server Lidovky.cz wrote yesterday referring to the consolidated results of the company published in the Register of Companies.

EPH was established on Aug 10, 2009 and most of the units were incorporated into the group in Oct.

The published data thus only comprise results for the last quarter.

EPH representatives yesterday confirmed that the published data do not apply to the entire year 2009. When assessing the data, it is necessary to take into account that at end-2009 not all assets were part of the group. Assets were integrated into the group gradually, said EPH's Martin Manak. Their reappraisal also played a certain role, he said.

EPH comprises more than 20 firms involved in the production of electricity and heat and trade in electricity, among others.

EPH's major acquisition is a joint investment with the Czech energy group CEZ in the German brown-coal mine Mibrag.

EPH owners are the financial group J&T (40 percent), investment group PPF together with Generali (40 percent) and manager Daniel Kretinsky (20 percent).

vr/er