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Wednesday | April 14 | 2021

CEZ net income reached CZK 13.6 billion for the first three quarters

CEZ Group’s net income reached CZK 13.6 billion for the first three quarters of 2020, the same as last year.

EBITDA reached CZK 50.9 billion for the first three quarters of 2020, rising by 14% year on year.

The company expects its EBITDA for the entire year to reach CZK 64 billion, as the currently estimated overall negative impacts of COVID-19 amount to some CZK 3 billion.

Operating revenues reached CZK 155.5 billion, increasing year-on-year by CZK 7.5 billion, i.e. by 5%.

Increase of the amount of electricity generated by new energy sources

The amount of electricity generated from traditional sources declined by 6% year on year, mainly due to growing prices of emission allowances, declining prices of electricity due to COVID-19 and also due to the timing of scheduled power source downtimes.

The year-on-year decrease in electricity generation has also been intensified by suppression of soon-to-be-closed coal-fired power plants, especially by the closure of the Prunéřov 1 Power Plant.

The amount of electricity generated by new energy sources increased by 7%, in particular due to good weather conditions in Germany and Romania.

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