Operating Revenue reached CZK 45.4bn, declining by 14% year-on-year. Power generated from traditional sources declined by 7% y-o-y to 15.6 TWh, whereby the power generated from nuclear sources reached 7.1 TWh, which is the same as Q1 2017. On the other hand, the power generated from wind farms, solar and small hydro power plants increased by 2% year-on-year to 0.6 TWh. The share of emission-free sources reached 52% and continues to grow in the long run. Ten years ago, this share was at only 38%.
“CEZ Group continues to strengthen its position in the new energy sector in Europe. Building permits have been issued for the construction and operation of the first four wind power plants of CEZ Group in Central and Western France, and the Group continues its acquisitions and organic growth in the field of comprehensive energy services. We have acquired a 100% equity stake in Metrolog of Poland, and purchased an additional stake of 25% in ENESA, which has turned ENESA into a 100% subsidiary of ČEZ ESCO. ESCO’s total sales for non-commodity products for Q1 reached CZK 3bn, of which sales in the Czech Republic reached nearly CZK 1.4bn. The price of stocks has been on the rise since the beginning of this year, and ČEZ’s market capitalization has increased by nearly CZK 38bn, which is more than 14%,” said Daniel Beneš, Chairman of the Board of Directors and Chief Executive Officer.
“During the first quarter, CEZ Group generated a cash flow of more than CZK 17bn, and its net financial debt declined by more than CZK 18bn year-on-year to CZK 121bn. I am glad that our Inven Capital fund completed a change of its legal form and, thus, fulfilled a condition precedent for the European Investment Bank to entrust EUR 50m to CEZ Group for investments in innovative and fast-growing start-ups specializing in clean energy and intelligent technologies,” said Martin Novák, Vice-Chairman of the Board of Directors and Chief Financial Officer.
The electricity sold and distributed to end customers rose by 0.2 TWh y-o-y, the volume of gas sold to end customers increased by 0.2 TWh, and the volume of heat sold rose by 200 GJ. Electricity consumption in the distribution territory of ČEZ Distribuce increased by 1.0% year-on-year, or by 0.4% after climatic and calendar adjustments.