Elevion Group receives the award “Treasury Project of the Year”

Every year, the Czech Treasury Association in cooperation with EY grant the award “Treasury project of the year”. It is traditionally an award for those who have enriched the Treasury field with something interesting and innovative. By definition, these projects are the work not only of individuals, but of entire teams made up of representatives from different areas within the company.

This year, the Elevion Group Treasury team received the award with the project of Multilevel cash pooling structure. “We have implemented cash pooling for Elevion Group in more than 30 entities in 6 countries in cooperation with CEZ Structured Finance and Citibank. Cash pooling enables Elevion to manage its financial resources efficiently and eliminate non-operating cash. Its essence is that we have within one bank the accounts of selected Elevion Group companies, as well as centralised bank accounts in three currencies, where the debit and credit balances of these companies are pooled on a daily basis. This has enabled us to significantly reduce interest costs for both Elevion Group and CEZ.” says Jiří Pecka, Elevion Group CFO.

The award serves as an important validation of the work of the Elevion Group Treasury team and motivates us to continue pursuing innovative projects for the further growth of our Group.