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2020/05/20 / Erste Group Research

EP Infrastructure

Founded in 2013, EPIF has arisen as an infrastructure utility of European dimension today, focused on gas transmission, gas and power distribution, heat distribution and generation, power generation and gas storage.

Its assets offer strategic value, being located in Slovakia, the Czech Republic, Germany and Hungary, and operate within long-term contracted and/or highly regulated markets.

EPIF offers good profitability, strong cash conversion and free cash flow-generation capacity. With roughly 6,500 employees and a balance sheet total of EUR 10.6bn, the EPIF Group generated revenues of EUR 3.4bn, EBITDA of EUR 1.6bn and net income of EUR 790mn.

Financing of gross debt of EUR 5.0bn at YE 2019 is primarily effected by unsecured EUR benchmark bond issues. EPIF is rated Baa3 by Moody´s, BBB by S&P and BBB- by Fitch, each with a stable outlook.

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General information

AuthorErste Group Research
Date2020/05/20
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria, Czech Republic
Currency in focusCzech Koruna, Euro
Sector in focus-
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