CEZ Group Earned CZK 27.4 bn in 2025 Record-high generation by nuclear power plants, growth of customer segments and continuing transformation
CEZ Group achieved operating profit before depreciation and amortization (EBITDA) of CZK 137.0 bn for 2025. Net profit reached CZK 27.4 bn, while adjusted net profit, which determines the dividend proposal, amounted to CZK 28.1 bn. The profit achieved and the dividend policy in force indicate a dividend of CZK 31 to CZK 42 per share, i.e. a total of CZK 17 to CZK 23 bn for shareholders. The results confirm the company’s stability in a period of ongoing energy sector transformation. Generation from nuclear power plants grew, with CEZ generating a record 32.1 TWh of emission-free electricity from nuclear sources for the full year of 2025, up 2.4 TWh year on year. For 2026, CEZ Group expects EBITDA of CZK 103-108 bn and adjusted net profit of CZK 27–31 bn.
“The financial results confirm the stability of CEZ Group even during the ongoing energy sector transformation. We continued to successfully implement our strategy of developing customer segments, strengthening our position in distribution, and expanding our activities in gas. Our nuclear power plants reached an all-time high in electricity generation, surpassing the 32 TWh mark. We also slightly exceeded our expectations for 2025 EBITDA and net profit,” said Daniel Beneš, Chairman of the Board of Directors and CEO.
Overall Results
Operating revenues for last year reached CZK 333.4 bn, down 3% year on year. Operating profit before depreciation and amortization (EBITDA) reached CZK 137.0 bn, down CZK 0.4 bn year on year. The year-on-year decrease in realized prices of electricity generated and lower profits from commodity trading had a negative impact. The main positive contributors were the inclusion of the GasNet acquisition in CEZ Group’s consolidation entity from September 2024, the results of the Electricity Distribution and the Sales segments, and higher nuclear power plant generation.
CEZ Group’s net profit decreased by CZK 1.7 bn year on year to CZK 27.4 bn, with the main factor being the higher depreciation and amortization of CZK 13.1 bn attributable to the inclusion of the GasNet acquisition in the CEZ Group’s consolidation entity and the acceleration of depreciation of coal assets starting from Q4 2024.
Capital expenditure (CAPEX) reached CZK 56.1 bn, which represents a similar level as in 2024. In addition, another CZK 5.8 bn of capital expenditure came from subsidies, mainly for strengthening distribution systems.
Environment Protection and Sustainability
Already 91 percent of CEZ Group’s operating profit before depreciation and amortization (EBITDA) in 2025 came from emission-free activities. The CO₂e emission intensity of electricity and heat generation in 2025 reached 0.24 t CO₂e/MWh, a year-on-year decrease of 9 percent, which means that the VISION 2030 emission target for 2025 was met. SO₂ and NOₓ emissions declined by 17% and 7%, respectively.
Electricity and Gas Consumption
Last year, electricity consumption in CEZ Distribuce’s distribution territory increased by 1.3% year on year to 34.1 TWh. Climate- and calendar-adjusted consumption increased by 0.3%. Gas consumption in the GasNet distribution territory increased by 7% year on year to 63.3 TWh. Electricity supply to end customers of CEZ Prodej increased by 1% year on year, while natural gas supply rose by 13%.
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