EP Power Europe reports 2022 results
27. 6. 2023
Consolidated EP Power Europe (“EPPE”, together with its subsidiaries, the “Group”), a subsidiary of Energetický a průmyslový holding (“EPH”), reports strong financial results for the year 2022. EBITDA reached €2,918 million (compared to €984 million in 2021). Free cash flow increased to €2,191 million (€560 million in 2021). The Group maintains a robust financial position with Net leverage at a low level of 0.1x (0.2x in 2021). For the year 2022, the Group companies are contributing a total of €1,771 million in income taxes (including windfall taxes) or as consideration for CO2 allowances to public budgets. Sound financials and operational excellence have enabled the Group to further improve its environmental and sustainability performance.
The financial results were achieved through its 10.9 GW power plant fleet, dominated by low-carbon energy sources. For 2022, the Group’s power plants provided the European energy market with combined power generation of 34.4 TWh and thus played a vital role in providing security of supply in times of highest needs.
“The Group’s focus and foremost objective has always been securing reliable power supply and delivery of other commodities to its partners and customers. Despite all the challenges we faced last year, I am pleased to state that the Group has displayed extreme resilience and stability and always responded timely and efficiently to the needs of customers, regulators and governments”, said Jan Špringl, CEO and vice-chairman of EPPE’s management board.
In 2022, the Group continued to be very active in the field of environmental protection and decarbonization of its operations. The Group invested in the modernization of its fleet which contributed to an environmentally and socially responsible way of decarbonization, while keeping in mind security of energy supply in the regions where the Group operates. For instance, the Group is set to install two OCGT turbines at its Kilroot (UK) site (combined net installed capacity 700 MW, expected to be operational under a capacity contract from Q3 2023). Gazel Energie Group (FRA) progressed with its project on repowering old windfarms (expected to be completed in 2023/2024). Through its renewable development subsidiary EP New Energies, EPPE also continued to work on several photovoltaic and wind projects in Germany.
The companies within the Group continued to be run in a manner ensuring their failure-free operation and high efficiency in producing electricity and heat, which has a direct impact on the volume of emissions produced. As a result, the EPPE Group saves energy, avoids network losses, and improves the security of Europe’s internal energy supply while remaining environmentally and socially cautious.
In future, the Group is determined to continue serving its customers and acting as a reliable energy producer. The Group acknowledges its vital role in the European sustainability and decarbonization project. Thanks to its wise long-term decisions, EPPE is committed to satisfy its stakeholders by significantly contributing to European progress on environmental protection and at the same time to support the security of the European energy market.
For more information, please visit https://www.eppowereurope.cz/en/results-centre/