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
SBTi experts confirm CEZ Group’s net-zero plans by 2040
CEZ Group's plans to achieve net-zero by 2040 have been validated by the globally recognised SBTi expert initiative. CEZ already received confirmation last year of its near-term climate goals set out in the Vision 2030 - Clean Energy for Tomorrow strategy. They now become the first Czech company with a confirmation that their long-term plan is sufficiently ambitious and in line with the Paris Agreement to limit global warming to 1.5°C. International verification of decarbonisation targets is increasingly being requested by banks, insurance companies and investment funds. This year, CEZ expects the emission intensity to decrease by 7% in comparison with last year.
28. 11. 2023
The Czech Republic is strengthening its long-term LNG energy security. ČEZ has acquired capacity at the German Stade terminal
The Czech Republic has taken another crucial step towards ensuring sufficient gas supplies for the future and replacing supplies from Russia. In cooperation with the government, ČEZ Group has contracted long-term annual capacity of 2 billion cubic metres at one of the onshore LNG terminals in Germany. This represents an investment in the further development of the Czech energy sector and strengthens the energy security of the Czech Republic. The Stade terminal will be located near Hamburg at the mouth of the Elbe River on the North Sea and will be commissioned by its operator, Hanseatic Energy Hub, in mid-2027.
23. 11. 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.