Press releases pg. 2
CEZ Group Earned CZK 29.6 bn in 2023, with 74% thereof from emission-free activities. It is the highest profit for the past 10 years, excluding the extraordinary year of 2022
Earnings before interest, taxes, depreciation and amortization (EBITDA) reached CZK 124.8 bn, down 5% year-on-year. We exceeded our initial ambitions, mainly thanks to additional gains from commodity trading and reliable nuclear power plant production. Net Profit reached CZK 29.6 bn. Adjusted Net Profit reached CZK 34.8 bn, and the dividend policy in place indicates a dividend of CZK 39 to 52 per share. In 2024, CEZ Group expects EBITDA of CZK 115 to 120 bn and Adjusted Net Profit at CZK 25 to 30 bn.
21. 3. 2024
ČEZ initiated the “sharp” phase of arbitration against Gazprom
On February 8, 2023, ČEZ formally initiated arbitration against Gazprom export LLC by filing a Request for Arbitration under the arbitration rules of the International Chamber of Commerce (ICC).
21. 12. 2023
CEZ Group has completed the sale of its share in AKCEZ, Türkiye, to Torunlar Group
Today, the sale of CEZ Group’s 50% stake in AKCEZ Enerji A.Ş. (AKCEZ), owned in a joint venture together with the Turkish partner AKKÖK Holding A.Ş. (AKKÖK), to Torunlar Enerji Sanayi ve Ticaret A.Ş. and Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım Ortaklığı A.Ş. (Torunlar Group) was completed. The sales agreement was signed in July 2022, the transaction was subject to approval by the Turkish antitrust authority and the local energy regulator. AKCEZ comprises of three subsidiaries that deal with electricity distribution, energy sales and energy services.
1. 12. 2023
CEZ Group’s Net Income at CZK 29.8 bn for Q1-3 2023, 43% Less YOY. Generation from coal reached only 28%.
EBITDA in Q1-Q3 reached CZK 95 bn, up by 6% year on year. The year-on-year comparison is affected by the extreme rise in commodity market prices following Russia’s military invasion of Ukraine last year and the subsequent introduction of a levy on excess revenues from generation. Net Income for Q1-Q3 reached CZK 29.8 bn, down by CZK 22.5 billion year-on-year. The decrease was caused by the newly introduced windfall tax of 60 percent, which increased this year’s costs by CZK 21 bn. CEZ Group raises its full-year 2023 EBITDA outlook to CZK 115 to 120 billion and confirms its net adjusted profit outlook of CZK 33 to 37 billion. This year, CEZ Group will pay CZK 118 to 125 bn to the Czech state in dividends, income taxes and a levy on excess revenues, which is over CZK 5 bn more than the company’s guidance of August 11.