Wednesday, 23 April 2014

EP Energy raises net profit to CZK 8.6bn in Q1-3 2012

ČTK |
9 January 2013

Prague, Jan 8 (CTK) - Group EP Energy made a Kc8.6bn net profit in January-September 2012, almost Kc7.7bn higher than in the whole of 2011, and its sales reached around Kc27.5bn in the period, daily Lidove noviny (LN) writes Tuesday.

The main part of last year's profit does not come from the production and sale of electricity and heat but from reappraisal of purchased and sold companies.

The group earned Kc3.5bn from the sale of firm Energotrans and Kc1bn from the purchase of German mine Mibrag. EP Energy plans further purchases this year. It is interested, for example, in coal power plant Chvaletice and also wants to buy a thus-far unspecified coal power plant in Germany.

EP Energy has 4,400 employees. It is fully owned by energy and industrial holding Energeticky a prumyslovy holding (EPH) of financial groups PPF and J&T and Daniel Kretinsky.

At the beginning of this year, EP Energy merged its two subsidiaries involved in trade in electricity and gas. Companies EP Energy Trading (EPET) and Prvni energeticka (PEAS) operate under the name EPET. By the merger, the company wants to raise their efficiency.

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