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Czech News in English » Business » ČEZ posts CZK 18.6bn in net profits for 9M 2015

ČEZ posts CZK 18.6bn in net profits for 9M 2015

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Utility ČEZ Group reported CZK 18.6bn in net profit adjusted for extraordinary influences for the first nine months of 2015. EBITDA totalled CZK 48.4bn. Despite the drop in implementation prices of produced electricity and production outages in nuclear power plants, ČEZ’s revenues grew to CZK 150.61bn from CZK 147.01bn a year ago, primarily thanks to higher sales of electricity (up 9%), heat (up 8%) and gas (up 29%). ČEZ’s CEO Daniel Beneš has stated that the negative effect of lower electricity consumption was compensated partially by the reduction of permanent operating costs by CZK 1.6bn. ČEZ’s CFO Martin Novák estimates that the company will post adjusted net profit of CZK 27bn and EBITDA totalling CZK 64bn for the full year of 2015.


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