EP Infrastructure: Q3 2018 unaudited financial results and plans for optimization of financing structure

1. 2. 2019

1 February 2019 at 9:41 AM CET


The core operations of the EP Infrastructure Group (“EPIF”) remained strong and stable in the first three quarters of 2018. Based on the internally compiled unaudited consolidated financial information of the Group approved by the board of directors of EPIF on 1 February 2019, adjusted EBITDAi reached EUR 1,086 million for the nine months ended 30 September 2018 and EUR 1,439 million for the twelve months ended 30 September 2018 (the “LTM adjusted EBITDA”). The 2.0 % decline in LTM adjusted EBITDA as compared to full year 2017 was primarily attributable to colder weather conditions (reflected mainly in higher heat and gas distribution revenues) in 2017. The Group’s proportionate net leverage ratioii of 4.3x remained in line with the net leverage target of the Group.
As a response to the achieved results, Gary Mazzotti, Vice Chairman of the EPIF’s Board of Directors, stated that “the EPIF corporate strategy of predictable and stable returns based on a diversified Group structure remains in place and is highlighted by the financial results for the nine months ended 30 September 2018 which are fully in line with our plan and expectations and pinpoint once more the robustness of our earnings”.

The Group continuously assesses all options to achieve optimal financing structure while not increasing its net indebtedness. As part of this strategy, the board of directors of EPIF currently considers incurring new bank debt, issuing Schuldschein instruments or privately placed bonds.

Investor relations contact:
Filip Bělák, Finance Director
Tel.: +420 232 005 312
E-mail: investorrelations@epinfrastructure.cz

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