Západoslovenská energetika, a.s. (ZSE)

ZSE acts as a managing holding company for the whole Group and all subsidiaries to which it also provides supporting services, such as Customer services, Accounting, Tax, Finance, Regulation, etc. 1 July 2007 ZSE incorporated subsidiaries – for the operation of distribution system and for energy trading and sales. This split was based on the European Union Directive on common rules for the internal market in electricity repealing that has been implemented into Slovak legislation by Act No. 656/2004 Coll. on energy

Non-current assets are mainly represented by financial investments in subsidiaries and associates. Equity is mainly represented by share capital and legal reserve fund. Non-current liabilities are related to Euro Bond emission in 2013 in amount of EUR 630 million.

Main source of ZSE revenue and EBITDA is dividend income from subsidiaries and associates. Another significant source is revenue from provision of non-core supporting services to its subsidiaries.

Key Figures of ZSE as of December 31

Key figures of Západoslovenská energetika, a.s. (ZSE):

EUR in thousands 2017 2016
Non-current assets 646 524 967 416
Current assets 422 214 88 435
Total assets 1 068 738 1 055 851
Equity 354 824 334 705
Non-current liabilities 316 885 631 718
Current liabilities 397 029 89 428
Total equity and liabilities 1 068 738 1 055 851
Continuing operations:    
Revenue 18 248 18 341
EBIT  69 370 51 475
EBITDA 71 960 54 279
Income 112 996 97 295
Expenses -43 542 -47 914
EBT 69 454 49 381
Net income from continuing operations 68 834 49 057
Net income from discontinued operations 1 860 1 803
Net income total 70 694 50 860
Total comprehensive income 70 583 51 130
Investments 4 051 4 598
Average number of employees 306 303