INTERVIEW: Savings can be created at any time
19. 12. 2022
What attracted you to Wero Holding a.s. after years in the corporate world? and why did you decide to leave after years in the corporate world? I spent practically two decades in banking, when the industry went through a very significant transformation, be it from a technological, legislative or regulatory point of view. Let's realize that in our territory, hand in hand with the departure from the centrally controlled economy, and with it the centrally controlled banking system, this entire transformation took place in an accelerated form and practically completely from the beginning. What I mean by this is that being physically there from the point of view of a trader in the capital markets was a school that in its principles is now suitable in many other sectors of the economy. And energy is probably the closest thing to all of this for me. Another important factor in my decision was that the partners and shareholders of the WERO holding decided to establish a fund of qualified investors, through which the holding implements part of its projects.
So what is the main business activity of the WERO holding and the contents of this fund? Today, WERO Holding can be defined as an entity that deals with energy savings in general and stands on three so-called pillars. The first pillar is the actual implementation of the projects, the second is the service and operation of the installed technologies, and the third is the already mentioned pool of qualified investors. In our case, the fund therefore finances projects when the client does not have enough funds to implement our technologies, or invests as a priority in development or other activities within its business. We then sign a long-term contract with such a client for the related service. For the entire duration of this contract, the equipment installed by us is the property of the fund, as well as the long-term contract with this client.
As a layman, can you explain it even more to me and who is your target client? Imagine, for example, operational leasing with the possibility of extension or purchase after the expiry of the contractual relationship. That's probably the closest layman's comparison I can think of at the moment. On the one hand, there is a client who is interested in energy savings and the implementation of our solutions, and at the same time, as I already mentioned, invests in own production or innovations, etc. We invest in our equipment completely at the FKI level, so the client does not pay anything for all technologies, the fund then pays monthly for this service. In total, this means for him at least a 20% immediate saving in energy expenses to which the installed equipment relates. After the agreed period for which the client pays us for this service has expired, he can buy back our equipment for the residual value, or extend the current contractual relationship. On the other hand, our clients are investors in our open fund of qualified investors, where with the help of capital selected in this way, we realize the above-mentioned projects. This investor purchases investment shares of a fund with a certain investment horizon and income. In our case, we aim for an annual return for investors of around 10 to 12%.
So what makes the WERO ČMEF SICAV a.s. fund, the ČMEF AQUA sub-fund interesting and different from other FKIs? Our fund is interesting from the point of view of the projects in which we invest. These are long-term and stable. Our added value is in the creation of savings, so we are not a classic energy holding, even though we have recently been making our own acquisitions in the field of biogas stations, photovoltaics and are also moving partially into the hydroelectric power plant segment. Our fund is practically secured on two levels, namely by property (own equipment) and a long-term contractual relationship with the client regarding payments for the given savings.
So how can I get to your FKI specifically? In order to obtain new funds for new projects, we cooperate in particular with selected renowned investment advisors who specialize in this area. In the Czech Republic, there are companies such as OK PROFIT or inpocket, in Slovakia Convexify, which are really well-educated experts in the field of asset management. That is why we really appreciate the fact that people like Karel Bouček, Martin Urban, and in Slovakia Miloš Labaj, who in the field of finance pay for really trustworthy and very fair partners, have chosen our fund as a suitable tool to diversify the portfolios they manage and increase the average profit . Then, of course, the company Avant, which is the administrator and manager of our fund.
So is energy an interesting field even today? Yes, and especially nowadays. As I already mentioned, we are not a classic energy holding and our main activity is savings in this sector. That is why I see our future within the holding very well. Savings can be created at any time.
Roman Duchoň (47 years old) studied investment banking at VŠFS, in the years 1997-2007 he worked at Credit Lyonnais in France, where he traded currency and interest products on the interbank market. In the years 2007-2013 he worked at ING. Since 2013, he has been working as an investment advisor.
We use cookies and other technologies to ensure the reliability and security of our site. Monitor their performance and provide a personalized shopping experience and targeted advertising. To do this, we collect information about users, their behaviour and the devices they use. By clicking "Accept", you accept this and consent to us sharing this information with third parties, such as our business partners.