Press releases pg. 78

Škoda Praha has won, in competition with nine companies, in a tender to select a supplier for a 250 MW block for a coal power plant in Pljevlja, Montenegro. The Czech solution offered the highest efficiency, availability and long-term knowledge in the sector. The value of the contract exceeds CZK 9 billion and will help restore the region's environment in accordance with European regulations.

Operating Profit Before Depreciation (EBITDA) for Q1 2015 reached CZK 19.1bn, Net Profit was recorded at CZK 7.6bn and the company’s market capitalization rose to CZK 335.2bn. CEZ Group met the initial expectations for the whole year, which expect EBITDA to reach CZK 70bn and Net Profit adjusted for extraordinary items at CZK 27bn.

Earnings before depreciation (EBITDA) reached 72.5 billion CZK in 2014, which is CZK 2 billion more than originally anticipated. This result was achieved in spite of unfavourable weather conditions and negative development in power sector regulations. Net profit adjusted for extraordinary influences reached CZK 29.5 billion. Market capitalization grew by CZK 35.3 billion to CZK 315.7 billion in 2014 and thus CEZ became the most valuable company in all of the new EU membership countries. Settlement agreement with Albania and the successful start of an ambitious savings program contributed to these good results. Thanks to active measures, the CEZ Group expects EBITDA to be approximately CZK 70 billion in 2015.

The decision of arbitration panel about ČEZ’ claims in an arbitration initiated in 2009 on the grounds of breached contractual conditions in a project for the reconstruction of an old power plant and the construction of a new power plant of Gacko in Bosnia and Herzegovina was settled today. ČEZ received damages totalling approximately EUR 7.5 million in exchange for signing a share purchase agreement concerning joint holding company.