Energy Groups of Czech Billionaire Book $7.8 Billion Core Earnings in 2023

Energy firms held by Czech billionaire Daniel Kretinsky have reported core earnings of $7.8 billion 7.3 billion euros for 2023, Reuters reported on Thursday. The energy assets of Kretinsky’s EP Corporate Group include the flagship energy holding EPH, which reported today core earnings – or earnings before interest, tax, depreciation, and amortization EBITDA – of $3.85 billion 3.6 billion euros.

The new company “will have a clearly defined transition strategy and plans to invest around €10 billion into the development of renewable energy sources, batteries and highly-efficient hydrogen-ready power plants,” EPH said at the time. “As a result, EPH will be almost free from all of its current coal assets by 2025 and will completely abandon coal as a power generation source by 2030,” the firm said. EPH aims to play a leading role in the transition to a hydrogen future, it noted.

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