Annual Reports

Chairman’s Statement

Dear shareholder, dear business partners, dear colleagues,

You have in your hands the Annual Report of ČEPS Invest, a.s. for the year 2016.
I would like to briefly introduce the most important events that happened
during our business activities in 2016.

A key requirement of our sole shareholder is of course to ensure the company’s
results, and at least to meet the business plan and budget for the period. I am
glad to say that our Company managed not only to fulfill these expectations,
but also significantly exceed them. I am also pleased to announce that all the
rest of the Company targets were met in 2016.

The past year was a year of major change in key processes, not only in our
Company but also across the ČEPS Group. Here I would like to highlight, above
all, the transformation and transfer of purchasing activities and activities related
to the implementation of projects with expenses below set limit back into the
parent company ČEPS, a.s. The two biggest changes in the Company history
have been implemented in accordance with the long-term plan to reduce
operating costs, and as such, of course, result in a fundamental change of the
Company’s turnover. From 2017, the Company thus becomes a purely project
engineering organization, whose primary focus is on pre-project preparation,
project preparation and related engineering services.

We perceive the coming year 2017 as the year of completion of the changes
in all key processes in the Company. Despite all the changes, however, the
basic task of the Company remains the preservation and improvement of the
existing level of service for all our products. Another task that we have set
for our Company in 2017 is to increase the working capacities for power line
planning and extending the scope of the company competences when updating
documentation of stations and powers lines. We are of the opinion that the
development of our Company lies, among other things, in a more extensive use
of the Company capacities for climbing checks in order to improve the quality
of structure controls. All of this is part of ensuring all requirements of ČEPS, a.s.,
stemming from its strategic investment plan for investments and scheduled

We are working hard to prevent any of the implemented changes from
affecting the functioning of our Company and especially our business partners,
and thus lowering the set standard of service to our customers, but rather to
see that it continues to grow in the future.

In conclusion, let me thank all employees of the Company, the Supervisory
Board members and other representatives of the sole shareholder and all our
business partners for their contribution to the financial result of the Company.

I believe that by working together, in 2017 we will manage to implement all
planned tasks in ČEPS Invest, a.s. as well as in the entire ČEPS Group.



Jiří Jílek
Chairman of the Board of Directors