GROUP PROFILE 2020 - Sev.en Energy
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GROUP PROFILE 2020
2 Group Profile 2020 Group Profile 2020 3
OUR MISSION
IS TO BRIDGE
THE GAP
BETWEEN “Building on
THE WORLD our expertise in
conventional power
generation, we
OF TODAY AND have evolved into
a strong energy
player providing
“We see potential
to grow thanks
TOMORROW’S services for energy
systems going
through a green
to our tradition:
competent people
and our ability to
ENERGY
transformation.” add value.”
Pavel Tykac Lubos Pavlas
Ultimate Beneficiary President & Group CEO
4 Group Profile 2020 Group Profile 2020 5
Our Group
in a Nutshell
We are
Our core
We strongly believe that the For more than a decade we have
combination of our long‑term built in this heritage step by
a European expertise in traditional energy step, from operating coal mines
Electric Power production combined with our and power plants into providing
competence
strive to expand our know‑how into complex engineering services
Industry Group new energy segments shall bring and developing international
value to assets beyond our current commodities trading to become
scope. Our objective is to be the a strong player in the European
stays in classical
bridge between the energy of energy markets.
today and tomorrow – to address
the continuing demand for reliable Today, we strive to build
energy and the ambitious goal of a European asset base to offer
conventional power
making the energy markets more a wide range of services to
renewably‑fuelled. the European energy market,
encompassing but not limited
Ambitious The Sev.en Energy Group’s take on to energy. We believe our core
generation,
business is entirely entrepreneurial, business will stay in demand for
and highly with a long‑term perspective. Pavel quite some time to come, since
professional Tykac, its sole ultimate beneficiary,
is an independent investor
energy systems running on large
and rising shares of volatile
team, with strong
because we believe
willing and able to support the renewable electricity generation
Group’s further growth. He came to will need flexible, reliable assets.
credibility, market the energy sector in 2006, when he
reputation and acquired a 50 percent share in the In line with these aspirations,
in its important
lignite company Mostecka uhelna our company targets
long-standing in Northern Bohemia. The company professionally managed, highly
energy sector was then renamed Czech Coal,
which, in turn, became today’s
efficient and flexible power
generation assets across Central
expertise.
transitional role
Sev.en Energy Group. and Western Europe – be it
conventional power generation
The owner expressed his such as coal and gas, or smaller
long‑term approach of continuous units fired with biomass. These
towards a greener
investment into the assets assets are run on a stand‑alone
that had been acquired, which basis using the expertise
enabled significant technical of local staff and management,
upgrades. Local communities have and will be integrated into
future.
benefited from this sustainable Sev.en Energy Group’s trading
style of business, and until today, portfolio to leverage solutions
the importance of strong ties to the markets.
with local communities at the
Group’s sites is held in high regard.
6 Group Profile 2020 Group Profile 2020 7
Our growth strategy
“We are already We aim to strategically grow
throughout Europe and to
In Europe, we want to be the
enablers of that transition,
options for sustainable power
generation.
They replace the fully integrated
super companies of the past that
operational experience, we
are ready to discuss options
a well‑known substantially expand our bridging the gap between had spanned the entire value for any such asset acquisition.
portfolio of conventional power the world of today and Our European‑wide trading chain and beyond. Moreover, as a private company,
player in the Czech plants, mostly gas fired. In doing tomorrow’s energy. We are team can plug all the plants in we are independent from
so, we safeguard future options convinced that conventional to their sophisticated systems of Our niche is the power generation external stakeholders’ pressure.
Republic. Following for conventional plants, their plants will be replaced at some fuel sourcing, placing power on for high‑performing conventional We purposefully invest in
a period of intense staff and the respective local
communities.
point by industrial‑scale energy
storage, smart grid systems
the markets and their hedging
strategies in order to maximize
assets until they cease to be
needed in the energy system.
conventional assets and have full
command over the deployment of
and systematic and responsive demand side value derived from the assets. We assume responsibility for our own capital resources.
Globally, the transition from management. However, there is their entire life span. That
development of carbon‑based power sources a transition period that may last Even towards the end of a useful includes searching and assessing Our mission is to provide
towards renewable energy several years. Sev.en Energy aims life, we will look for alternatives technological alternatives like a perspective to conventional
our skills, portfolios generation is in full swing. at supporting that transition by for these assets, such as power to gas and other innovative power plants as long as they are
and processes, However, today’s technologies
do not yet allow for a complete
responsibly operating fossil plants
that benefit both energy systems
power‑to‑gas technologies or
similar innovative concepts that
solutions that may well expand
the perspective for each plant
systemically needed and thus
offer a robust basis for a swift
we are now phase out of conventional power and consumers. could give yet a new horizon to and its teams. transition of the energy sector
plants. Flexible and robust fossil the plants and their employees. towards a fully sustainable
ready to expand plants continue to play a critical Our operating strategy is the Our strategy is complementary future.
role in maintaining supply following: To share the best Focus is the new recipe for to major traditional operators
internationally.” stability and controlling grid practices across all assets, success, and today’s energy who are often required to divest
flows, thus supporting a swifter to meet all environmental sector calls for top players in their conventional plants.
build‑up of renewable capacities. standards and invest in further clearly defined strategic niches. Employing our long‑standing
Alan Svoboda
Executive Director
4 Our Key
FUNDAMENTAL SE London
CHARACTERISTICS
THAT BEST DESCRIBE
Offices
Target
OUR GROUP
SE Prague Markets
Offices
1 2 Sev.en Energy Group
SE HQ Offices
DEEP‑ROOTED FINANCIAL Liechtenstein Sev.en Energy Group
TECHNICAL STABILITY AND Target Markets
EXPERTISE INDEPENDENCE
3 4
OPERATIONAL ENTREPRENEURIAL
EXCELLENCE SPIRIT
8 Group Profile 2020 Group Profile 2020 9
*
Our History Our Track Our Group Structure
At the heart of our Business is
almost 150 Years of Mining Record
History
Sev.en Energy AG Sev.en Energy AG,
Branch Office
2019
1871 100 %
Acquisition of 100 % Acquisition of 50%
stake in Alpiq stake in InterGen
Generation (CZ) - a leading global TEGLERION Sev.en Sev.en Sev.en Sev.en Sev.en
which represents Sev.en Delta AG
1905 power producer - LIMITED Services s.r.o. Epsilon a.s. Innovations a.s. Gamma a.s. Zeta a.s.
two CHP plants in which represents
100 %
Kladno and Zlin 3 gas power plants
The beginning of
industrial lignite mining in the UK and stakes
50 % 100 %
in the North Bohemia in 2 power plants in
Sev.en INDOVERSE (CZECH)
is connected to the Australia COAL INVESTMENTS HALTIXAR LTD InterGen Teplárna
Petschek family 2018 Commodities AG LIMITED Kladno s.r.o.
1930s Ignatz Petschek 100 % 100 %
OF 20TH became the owner Intense
CENTURY Sev.en
of the majority of the acquisition Commodities AG, Severní
Vršanská uhelná a.s.
energetická a.s.
mining companies in process has Branch Office
North Bohemia begun
2017
Sev.en EC, a.s. Důl Kohinoor a.s.
Formation of
1948 commodity Sev.en
The Petschek family trading and power Engineering s.r.o.
dominated the lignite 2016 engineering units
mining industry all
over Europe (a half
Consolidation of the Coal Services a.s.
of the mining sites,
mainly in Germany) fragmented group
under the name of
1993 Nationalisation by the Sev.en Energy 2013 REKULTIVACE a.s.
Communist regime
Final bidder for Acquisition of
acquisition of Chvaletice power RENOGUM a.s.
Vattenfall lignite plant from CEZ
2006 mining and power
generation Long term contract Infotea s.r.o.
Privatisation of coal for lignite supply to
mines CEZ (until 2062)
2010 Servis Leasing a.s.
Acquisition of 100%
Pavel Tykac entered of the coal company 50 %
the coal company by Pavel Tykac Czech Coal
Services a.s.
* Simplified ownership structure of Sev.en Energy AG,
valid to date of November 1, 2019
10 Group Profile 2020 Group Profile 2020 11
Our Key People
We are proud that our team is composed of top professionals from
the power industry. All the people have a long and proven track
record and the right balance between professional competence,
managerial skills and experience.
Lubos Pavlas Alan Svoboda Vaclav Matys Michal Skalka
President & Group CEO Executive Director General Manager Executive Director
Lubos was appointed as Alan manages the strategic of Chvaletice Power Plant of Sev.en Commodities
the ew CEO of the Sev.en development and expansion and entrusted with the
Michal leads Sev.en
Energy group in October of the group in Europe. His management
2018 and is responsible Jiri Postolka task is to concentrate on
Petr Lenc of Sev.en Engineering Milan Prajzler Commodities AG, which took
Petr Antos
over the trading activities
for the management and acquisitions in European General Manager of Group
Group CFO Vaclav joined the group General Manager of Kladno of Severní energetická and Group COO
development of the Sev.en energy, including the provision Mining Companies in October 2018 and became Heating Plant Sev.en EC. He is building on
Energy group in the Czech Jiri Postolka is a new addition of financing. Petr is the chairman of the
a general manager of the the long-standing business
Republic and worldwide. to the financial team of Sev.en Petr took over the Milan has been the general board of Vrsanska uhelna,
His main focus is on both group’s energy generating tradition of the group in the
Energy. He joined the company management of the Group’s director of the heating plant Severni energeticka and Coal
He relies on his extensive conventional and advanced facility in Chvaletice. His Czech Republic. Michal Skalka
in December 2018 and was mining companies – Severní in Kladno since 2002, the Services. He contributes to the
expertise and experience energy‑saving technologies. principal project is the has extensive experience
appointed Director of Sev.en energetická and Vršanská heating plant in Zlin since management of key projects
in the energy industry. He He aims to invest in intelligent modernisation of Blocks 1 with commodity trading
Services s.r.o., as well as Group uhelná – at the end of 2019 2011. Both operations became of Sev.en Energy in the Czech
has been working in various distribution and supply and 2. He spent most of his in Central and Eastern
CFO. At Sev.en Energy, he will and in early 2020. His task part of the Sev.en holding Republic and is in charge
positions within the group of electricity to end customers. professional life in the CEZ European markets. His task
supervise financial operations is to continue with the most in September 2019. He is of smaller service companies
for almost 10 years. He also participates in the Group in various managerial is to develop commodity
and strengthen control environmentally-friendly responsible for running the in the group.
In the past, he worked in long‑term development positions, most notably in trading at European level.
activities. extraction and thorough land modern cogeneration units
various managerial positions of realised investments. a division of classical energy His experienced team also Petr graduated from the
restoration, which are key that produce both heat
within the ČEZ Group and was Jiri has been faithful to the generation and in another participates in market Faculty of Civil Engineering
principles of the Group’s and electricity. At the Kladno
also the Chair of the Board world of finance since he of renewable energy. analyses and business at the Czech Technical
responsible and sustainable heating plant, this also includes
of Directors and CEO started his career 23 years ago. outlooks. University in Prague. He has
business operations. He has supplies of support services.
of Prazska teplarenska. In the last 10 years, extensive experience as
long-term experience
he has managed tax in managerial positions a manager in several fields,
and accounting departments in the energy sector. including banking and asset
in various companies management.
of the CEZ Group.
12 Group Profile 2020 Group Profile 2020 13
Key Facts
About Our Group Our Key Business Areas
105 3 600
million tons
of coal mined
since the date
Power and Heat
of acquisition
Generation
number of
employees
revenues in EUR (2018)*
789 000 000 Power
20 990 82
GWh of million EUR
Electrical
Energy
Produced
since 2013
of Paid Taxes (2018)
Engineering
* Represents sum of revenues of subsidiaries and associates of the Group, corresponding to relevant share held Commodity
2019 acquisitions Trading
100% stake
in Alpiq
Generation (CZ) 588 MW of installed
capacity for
cogeneration
of heat and
electricity 2 CHP plants in
Czech Republic,
in Kladno
and in Zlin Mining
3 GW
5
combined
effective newly acquired
50% stake
Land Restoration
capacity of new gas and coal
in InterGen acquisitions
in the UK
power plants
in group
and Australia portfolio
14 Group Profile 2020 Group Profile 2020 15
Power
generation Power plant Chvaletice,
Czech Republic
Power Plants in United Kingdom
and Australia
4.7 3 2
Sev.en EC Chvaletice Power Plant became
a part of the Group in 2013. Sev.en Energy
TWh
Due to the purchase of the Ontario Teacher’s 50% stake in
bought the shares in this utility from the CEZ
InterGen – a leading global power producer – the portfolio
Group. This move marked the Group´s entry
of power generating capacities has increased by 5 facilities.
into the electricity and heating markets as
Three combined cycle gas plants in the UK and two coal power
a major new utility
produced plants (partially owned by InterGen) in Australia. And combined
electricity capacities increase by 4 GWh. newly acquired gas newly acquired coal‑fire
in 2018 power plants in the UK power plants in Australia
820 4 MW units
2016
GAS-FIRED
POWER PLANTS
IN THE UNITED
KINGDOM
the year of a total refit of two
total installed capacity of the Chvaletice power generation units (the
in Czech Republic power station second phase is planned for
the year 2021)
ROCKSAVAGE CORYTON SPALDING
Runcorn, Cheshire, Essex, Thurrock, Spalding, Lincolnshire,
England England England
Operation launch: 1998 Operation launch: 2002 Operation launch: 2004
Output: 810 MW Output: 800 MW Output: 880 MW
Type: CCGT Type: CCGT Type: CCGT
SPALDING
ROCKSAVAGE Turbine: Alstom GT26 Turbine: Alstom GT26 Turbine: General Electric 9FA
Group’s ownership Group’s ownership Group’s ownership interest:
CORYTON interest: 50% interest: 50% 50%
AUSTRALIAN
POWER STATION
CALLIDE C MILLMERRAN
Biloela, Queensland, Millmerran, Queensland,
“In 2016, the group invested in overhauling of two units of the Chvaletice Australia Australia
CALLIDE C
power plant, with the aim of effectively curbing emissions. The Operation launch: 2001 Operation launch: 2003
remaining two units will be ready in 2021. What we promise in terms Output: 920 MW Output: 850 MW
of prospects and plants is sound and transparent.” MILLMERRAN Type: supercritical Type: supercritical
thermal thermal
Vaclav Matys, General Manager of Chvaletice Power Plant Turbine: Toshiba Turbine: Ansaldo
Group’s ownership Group’s ownership
interest: minority interest: minority
16 Group Profile 2020 Group Profile 2020 17
Heat
generation Heating plant Kladno
Czech Republic
Heating plant Zlin
Czech Republic
524 17 000
The Kladno heating plant has five production The heating plant in Zlin has two main
MW
units (B4, B5, B6, B7, B8), of which four are production units (B31, B32) as well as three
designed for the simultaneous production medium-pressure boilers located on the
of electricity and heat for heating and grounds of the former Bata plant. The main
technological purposes. The primary fuel used production units are two fluidized bed
for electricity and steam production is coal, households, including boilers connected to the TG31 and TG32
with the possibility of co-firing biomass. municipal and turbogenerators.
cogeneration commercial buildings
Currently, only modern equipment gradually supplied with heat
source output
put into operation between 2000 and 2013
The primary fuel used for electricity and
5 18 000 250 2 64 150
is being operated in Kladno, and therefore
steam production is coal, complemented
the heating plant meets the strict ecological
limits of both the Czech Republic and the new
European Union regulations valid from 2021.
MW with co-firing of biomass and biogas. The
technology used and the way it is operated
ensure the maximum limitation of emissions
households, including municipal and into the air.
fluidized boilers commercial buildings supplied with heat employees fluidized boilers cogeneration source output employees
“Both of our heating plants generate heat for more than 35 000
customers in Kladno and Zlín. We are a stable and socially responsible
company for whom fair behaviour towards our customers, employees
and trading partners is of key importance to us. We also place a heavy
premium on protecting the environment and maximizing the reduction
of the impact of our operations on the surrounding area.“
Milan Prajzler, General Manager of Kladno Heating Plant
18 Group Profile 2020 Group Profile 2020 19
Power Commodity
Engineering Trading
100 12 200
Sev.en Engineering focuses on the Sev.en Commodities is a major player in
GWh
preparation and realisation of modernisation the Czech energy market and plans to
projects, which guarantee the reliable and become an important player in the European
ecological running of traditional power energy market. As a part of Sev.en Energy,
plants. the company trades in electricity and
of traded emission allowances on European wholesale
The scope of offered services covers
(and cleared) markets through energy exchanges,
from project preparation, realisation of
expected budget of the biggest electricity brokers, and trade counterparts. The
construction, technical and organisational
currently running project in 2018 trading part of the group also provides
activities in areas ranging from fire
production optimisation, hedging, and
30 2 14 39
protection to occupational safety. Last
dispatch control for the Sev.en Energy
but not least, they are responsible for the
Chvaletice power station and for Teplárna
maintenance and technical support for the
Kladno heating plant which has its plants in
Chvaletice Power Plant.
members of the Kladno and Zlín in the Czech Republic.
highly competent offices – Prague and million of EUA professional trading
professionals at the Chvaletice Power Plant cleared in 2018 team
“We continue the famous tradition of Czech mechanical engineering. “The creation of a central commodity trading unit is crucial to
Professional competence and long experience of the whole team effective utilisation of the group’s energy assets and margin
create a perfect balance between the optimal planning of power maximization. We aim to provide the group with professional
production and the need to protect our environment.” energy trading services and grow our hedging and trading
activities on a European scale.”
Vaclav Matys, entrusted with the management of Sev.en Engineering
Michal Skalka, Executive Director of Sev.en Commodities20 Group Profile 2020 Group Profile 2020 21
Lignite Land
mining restoration
11.4 5 000
Traditionally rooted in the conventional
million tons
power‑generating business, we are
engaged in the extraction of coal. We are
committed to the responsible mining of
domestic lignite, thereby reducing the Czech
Republic’s foreign energy dependence while
of the finest‑quality lignite enhancing our industry’s competitiveness
mined in 2018 (2 mines and scaling up affordable heat for
combined) households.
2 2 700 1 000
Sev.en Energy operates two lignite mines:
the CSA surface lignite mine and the Vrsany square kilometres of restored land
mine, both located in North Bohemia. With from the date of privatisation
3 600 000
our operations, we contribute to preserving We believe the renewal and to use in one of our localities
CSA mine number of employees number of employees a significant share of lignite in the Czech creation of land resources – the Most region.
and Vrsany mine (2 mines combined) (2 mines combined) Republic’s energy mix. in the area affected by Here, along with mining,
industrial activity is a a reclamation process is
natural part of our work. under way to create a new
It is a designed activity, multifunctional landscape
trees currently planted
and the individual parts that includes agricultural
(fields, forests, meadows, and forest land, smaller
water surfaces) must and larger water surfaces
functionally fit together. This and land left for natural
creates an environmentally regeneration in appropriate
balanced landscape with habitats. In places where
a stable ecosystem that coal was recently mined,
is economically efficient, grapes are now harvested,
healthy, hygienic and mouflons and foxes roam
socially acceptable. Over the reclaimed landscape
the past 60 years, more and we can catch a glimpse
than 7,000 hectares have of sand martins that nest
been restored and returned there every year.
“We strive to limit the environmental impact of our business. More
than two thirds of the area affected by our mining activities have been
reclaimed or are undergoing reclamation (e.g. forestry, agriculture,
hydro or parkland).”
Petr Lenc, General Manager of Mining Companies22 Group Profile 2020 Group Profile 2020 23
Our Group We Build
on the Map on Our Values
Rocksavage Sev.en Energy AG, Prague Branch Office
Gas Power Plant Sev.en Commodities AG, Prague Branch Office
Cheshire
Sev.en Commodities Prague Office
Coryton Sev.en Engineering Prague Office
Gas Power Plant SE Lignite Mine Vrsany
Essex
SE Lignite Mine CSA
Spalding SE Chvaletice Power Plant
Gas Power Plant Kladno CHP Plant
Lincolnshire
Zlin CHP Plant
Sev.en Energy AG,
Headquarters
Sev.en Commodities AG,
Headquarters
Liechtenstein
Callide Power Plant
Queensland
Millmerran Power Plant
Queensland
Efficiency Sustainability Responsibility
We believe in daring visions, but We help to make We are not only professionals,
at the same time we understand people’s everyday lives easier and we are neighbours, citizens and
that between tomorrow’s vision safer: to be able to switch on the people who understand when
and today’s reality there is a lot lights, to make a morning coffee, somebody needs help or support.
to do. We believe that if you to warm their homes after a busy That’s why our corporate social
want to succeed in today’s world working day. We do it to using responsibility programme covers
you have to be able to think natural resources. But like our a broad spectrum of good cause
creatively, while also maintaining predecessor, we strongly believe initiatives, from supporting local
practical reasoning. that when we use something, we communities to internationally
should give it back in the best recognised support for the Czech
possible condition. We not only language at Oxford University.
believe in it, we do it. And we have
been doing it since 1908. And have
always been the best at it.24 Group Profile 2020 Group Profile 2020 25
We Believe We Believe in Social
in Sustainability Responsibility
and Fairness
Sustainable
Business
An important part of our daily work
is awareness of our responsibility
for preserving the entrusted value
for future generations. We consider
it our duty to restore the landscape
affected by our activities to its
original state. At the same time, we
constantly strive to improve the Local Support National Support International Support
environment, efforts that build on
a long tradition. For example, as
Clever Heads for North North Bohemia Regional Support Ivana and Pavel Tykac Fellowship,
far back as in 1908, the first land
long‑term school support partnership supporting the region University College, Oxford
restoration office was established in
programme on the national level University
the town of Duchcov at the edge of
supporting teaching of the Czech
the mining area, long before the word Local Municipalities Support East Bohemia Regional Support
language in one of the most
“sustainability” became a part of our long‑term partnership programme partnership supporting the region
prestigious British university
modern vocabulary. on the national level
Most Black Angels
sponsoring a women‘s handball Food for children
team unique project supporting
disadvantaged schoolchildren
Fair City of Most Hospital Neonatal Dept.
co‑financing partnership
Employer
HC Dynamo Pardubice
The companies of the Sev.en Energy sponsoring a professional ice
Group are major employers and have hockey club
a significant impact on the economic
One‑off regional projects and
and social situation in the regions
where they operate.
operational support
The Group considers employee
care a key value and the foundation
2 000 000 EUR
for its development. The Group’s
management is aware of the need
almost
for skilled, loyal and motivated
employees that contribute to
its operations and long-term
performance. Therefore, the Group
uses every opportunity to provide its of financial support in 2018
people with interesting job prospects.26 Group Profile 2020 Group Profile 2020 27
Our Key RELIABLE
Financial Figures 2018
ENERGY
789
FOR FAST
Revenues* EBITDA (adjusted)
185
million million
EUR EUR
Total Assets
CHANGING
864 WORLD
million
EUR
ROE ROCE ROCE, including EUA revaluation
23.2 %
6.01 %
13.6 %
* Represents sum of revenues of subsidiaries and associates of the Group, corresponding to relevant share held
“Over the last several years, to Teplarna Kladno s.r.o. By the end
the Sev.en Energy group has of 2019, we will also know whether
undergone major restructuring ČEZ will utilise its option to go back
and consolidation. The aim of on its previous decision to sell the
the changes was to streamline Počerady power plant to the Sev.en
the workings of the entire system Energy group.
and prepare the structure for
international expansion. Even though our acquisition
activities did not have a very
We have finalized the international significant impact on the first
acqusition of 50% share in InterGen consolidated financial results for
N.V. and we have closed the 2018, the year 2019 is very important
acquisition of Alpiq Generation (CZ) for the group in this respect.”
Jiri Postolka, Group CFO s.r.o. The company was renamedPRAGUE OFFICE HEADQUARTERS
Sev.en Energy AG Sev.en Energy AG Phone: +420 222 183 499
Prague Branch Office
Zollstrasse 82 E-mail: info@7energy.com
V celnici 1031/4 9494 Schaan
110 00 Prague
Liechtenstein www.7energy.com
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