Royal Mail investor Czech Sphinx to pocket £650m energy firm payout
Royal Mail investor Czech Sphinx set to pocket more than £650m as energy company cashes in on rising power prices
A Czech billionaire with large stakes in Royal Mail is poised to pocket more than £650 million after his energy company cashed in on rising energy prices in Europe.
Daniel Kretinsky, known in urban circles as the Czech Sphinx for his inscrutable approach to investing, saw dividends rise from his company Energeticky a prumyslovy holding (EPH) after a jump in earnings.
EPH manages energy assets across Europe and is a major player in the UK, including Ballylumford, Northern Ireland’s largest gas-fired power station, and the Lynemouth biomass power station in Northumberland.
EPH revealed earlier this month that it had posted a profit of £3.3bn for 2022, tripling the £1.1bn it delivered a year earlier.
Payout: Daniel Kretinsky (pictured) saw dividends soar from his company Energeticky, a prumyslovy holding company after a profit jump
Revenues also rose from £16.4bn in 2021 to £32.2bn, despite “very challenging” market conditions as the Russian invasion of Ukraine led to huge volatility in energy prices.
As a result of the increased profit, EPH reported dividends of just over £1.3 billion, more than double the £607 million paid last year.
Kretinsky – who also has a 27 per cent stake in West Ham United – controls just over 50 per cent of EPH, meaning he will receive a share of the £665m payout.
The 47-year-old, who is estimated to have nearly doubled his net worth this year to £7.4 billion, is the largest shareholder in Royal Mail’s parent company, International Distributions Services, controlling a 25 per cent stake through his vehicle Vesa Equity.
He is also a major shareholder in Sainsbury’s, owning a nearly 10 per cent stake in the supermarket chain worth around £665 million.