Czech billionaire Kretinsky’s energy assets make $7.8 bln core profit in 2023

PRAGUE, April 25 (Reuters) – Energy companies controlled by Czech billionaire Daniel Kretinsky’s EP Corporate Group on Thursday posted core profit (EBITDA) of 7.3 billion euros ($7.8 billion) for 2023.

Kretinsky, with a net worth of $9.2 billion according to Forbes, built his wealth in the energy sector and has been expanding into other investments across Europe in recent years, including holdings in Britain’s Royal Mail (IDSI.L), opens new tab, French retailer Casino 

Energy has remained a key business as the group seeks to transition to lower-emission generation sources after previously growing by buying up unwanted coal-fired plants around Europe.

The group reported the energy business results in the current structure for the first time.

Its flagship energy holding EPH reported a 17% year-on-year fall in earnings before interest, tax, depreciation and amortisation (EBITDA) to 3.6 billion euros in 2023, following a record 2022.

Source: REUTER