EP Power Europe reports record 2021 results
9. 5. 2022
Consolidated EP Power Europe (“EPPE”, together with its subsidiaries, the “Group”), subsidiary of Energetický a průmyslový holding (“EPH”) achieved record financial results in 2021, with EBITDA reaching €962 million representing increase of 83% compared to 2020 and Free Cash Flow increased by 60% to €538 million (compared to €336 million in 2020).
On a background of a volatile European energy market, EPPE once again proved to be an exceptionally reliable source of energy for its customers, delivering record energy volume of 37.3 TWh of which 82% was from zero or low carbon intensive sources.
“EPPE clearly had an outstanding year. Despite the pandemic and geopolitical challenges which were faced by us during the year, the Group’s key performance indicators improved significantly compared to previous year and we have made significant progress in fulfilling our previously set environmental and social commitments. Also, we have progressed in development of highly efficient low emission projects with installed capacity of almost 2.7 GW that are to provide much needed flexible power generation and security of supply”, said Jan Špringl, CEO and vice-chairman of EPPE’s management board.
EPPE delivered not only on financial front, but also on environmental and sustainable ones. In August 2021 EPH announced a plan to reduce emissions from its existing sources by 60 % by the end of the decade and to reach full carbon neutrality by 2050. In line with these targets EPPE continued to invest considerable amounts in zero- or low-emission projects such as the construction of modern gas-fuelled powerplants in Italy and Northern Ireland, continued progress in developing multi-GW-scaled pipeline of renewable projects in Germany and in decommissioning part of its fossil fuel power sources, namely coal power plants Provence 5 (France) and Deuben (Germany).
In future, same as today, EPPE is determined to serve its customers through its well diversified energy sources portfolio. EPPE acknowledges the importance of energy supply security, of which the importance is stressed today more than ever, especially on the background of latest events happening in Ukraine. We are sure that the steps taken by EPPE in 2021 will prove to be important contributors to both Europe’s energy market sustainability and security in the future.
For more information, please visit https://www.eppowereurope.cz/en/results-centre/