Chairman´s Statement

Dear Business Partners and Shareholders,

It is my honour to announce that ČEPS Invest, a subsidiary of ČEPS, commenced its activities on 1 January 2012.
On this date, certain selected activities (primarily Project Implementation and Purchasing & Sales) were outsourced by ČEPS and transferred to ČEPS Invest, including the transfer of respective employees. In order to create the optimum conditions for an operational engineering company responsible for the management of project realisation and investor inspection, the employee team had to be expanded so as to be able to provide investor technical supervision, complete engineering services and various types of energy studies; consequently, part of ENERGOTIS, a limited-liability company based in Šumperk, including all its contracted work in progress, was incorporated into ČEPS Invest.

ČEPS Invest is thus capable of providing ČEPS with a full range of technical and design services for construction projects, from various types of preliminary studies to concrete realisation projects, complete engineering services including investor technical supervision and health and safety at work supervision both for investment projects and planned repairs. These services are provided not only to the parent company but also to other customers, primarily those in the power sector.

The motivation for establishing the ČEPS Invest subsidiary emerged as a result of ČEPS’s demanding investment programme, in order to cope with which its own engineering capacity would have had to be increased, know-how concerning the preparation and realisation of construction projects expanded and further developed, and flexible adaptation to potential changes to the investment plan and professional high-quality contractor capacity ensured.

We firmly believe that we will manage to fulfil all the tasks and expectations of our parent company.

Lubomír Kohout
Chairman of the Board of Directors