Results of EP Infrastructure Group for the year ended 31 December 2018
17. 4. 2019
We are pleased to confirm that in the twelve months ended 31 December 2018, EP Infrastructure, a.s. (“EPIF”) and its subsidiaries (collectively the “Group“) continued to successfully operate their traditional energy infrastructure assets in Central Europe. The Group’s core activities remain the transmission, distribution and storage of natural gas, the distribution of electricity and district heating.
The Group owns and operates:
- the gas transmission pipeline through Slovakia, one of the largest corridors for supplies of Russian gas to Western, Central and Southern Europe;
- the distribution network of natural gas in Slovakia;
- the electricity distribution network in Slovakia as one of the country’s three main distributors of electricity;
- the largest gas storage capacities in Central Europe; and
- significant heat distribution networks and heat production plants in the Czech Republic and Hungary.
A summary of the financial results is attached below, the Group’s core operations remained stable and predictable in 2018. EBITDA and Adjusted EBITDA reached EUR 1,425 million and EUR 1,466 million, respectively, for the 12 months ended 31 December 2018, which represents a slight increase in Adjusted EBITDA of EUR 5 million compared to the twelve months ended 31 December 2017.
The Group also generated Free cash flow of EUR 1,055 million for the twelve months ended 31 December 2018, an increase of 1% on the twelve months ended 31 December 2017. The annual results reconfirm that the Group, with its diversified character of regulated and long-term contracted activities, operates in a stable and predictable business environment and has continued to excel at converting operating profit into cash.
- The Gas Transmission business remained the most significant contributor to the Group’s performance with Adjusted EBITDA of EUR 665 million (2017 EUR 664 million).
- The Gas and Power Distribution business Adjusted EBITDA reached EUR 502 million (2017 EUR 510 million).
- The Heat Infra business was able to improve Adjusted EBITDA to EUR 153 million (2017 EUR 150 million), and finally
- The Gas Storage business produced a particularly pleasing Adjusted EBITDA of EUR 147 million (2017 EUR 144 million).
For more details on the results, as well as the financial indicators used, please refer here.
Full release here.