CEZ Group earned CZK 14.2 billion in the first quarter, a year-on-year increase by 43%.
CEZ Group's net income in the first quarter of 2020 reached CZK 14.2 billion, a year-on-year increase by CZK 4.2 billion. Operating profit before write-offs (EBITDA) grew by 22% to CZK 25.9 billion. The significant increase in profit is mainly caused by the growth of realization prices of generated electricity in the Czech Republic due to multi-year pre-sales on wholesale markets in Germany and additional profits from commodity trading. The COVID-19 pandemic has had only a limited impact on CEZ Group and will not affect its operations until the next quarters.
12. 5. 2020
The Temelín Unit 1 restored electricity production, despite the coronavirus, the technicians kept to the planned deadlines
This afternoon Temelín Unit 1 started producing electricity. The operators shut it down for refueling on March 13. The outage lasted for 59 days and the technicians e.g. replaced a quarter of the fuel, inspected the turbine and safety systems during it. Due to the coronavirus, they had to adjust the timetable before it started, but in the final, they kept the deadlines, despite many health-protective measures. Together with the Dukovany power plant, all six nuclear units are currently in operation.
11. 5. 2020
Proposal of dividend from profit of 2019: CZK 34 per share
Today, Board of Directors of ČEZ, a. s. decided to propose the gross dividend from profit of 2019 amounting to CZK 34 per share.
14. 4. 2020
ČEZ advances to the next stage of preparation for mining lithium at Cínovec
After a thorough assessment of the lithium mining project at Cínovec, ČEZ is advancing to the project’s second stage. The second stage does not involve mining but verifying the production process under pilot plant conditions and pilot test lines. This procedure is standard in any potential ordinary mining activities. Steps to obtain other necessary permits may also be taken. This second testing stage may continue until 2023. ČEZ and Severočeské doly a.s. have therefore agreed to a contractual amendment with EMH and its subsidiary, Geomet, which holds preferential exploration and exploitation rights. The amendment will be subject to approval by the General Meeting of EMH shareholders.