According to an expert, shares of companies such as EZ or MOL will protect against inflation. According to some of them, EZ shares should increase by 40% during the following 12 months

Actions companies z energetic The department has historically been one of those assets that will sell rapidly inflation. Except for the first energetickch title we will be looking for stock titles in any other industry that would have elapsed in the hundreds or so let so reliably they overcame the first and relatively deadly inflation. Reliable is then investment jen pmo do raw materials i
energyyou through a term contract to group i gas. Zstaneme-li vak u action as such, we find a reliable insurance against inflationthey are not the first ones energetick.

The reason is especially the source of the tusk inflation bv often prv citeln rst cen surovin i
energy. After all, we are currently observing this in pmm transmission.

At the end of the summer, you have a European market with gas v nevdanm napt. Today, it is especially not the case that is the case. Gazproma gas monopoly in the hands of the Kremlin, first last year added to the Of Europe mn gas, he couldn’t. He shortly pointed out his short-term deliveries. He thus laid the groundwork for the panic situation on the European market with gaswhich subsequently resulted in a dramatic rise in stock prices. As a result of this rapid growth, Bohemia Energy collapsed last June.

Bohemia Energy ovem gasbut yes choose jen peprodvala. So it’s not
energetick society in the first sense of the word. Alone energy newyrb. Takov NO, to u je ovem jin psnika. Complexion choose manufacture and production.

S panikou na trhu s gas last year in the fall greeted so electina. Because substantial st electiny in the interconnected European market, the first of gas. A massive rise in stock markets
cen electiny umonil NO increase your profitability. To the growth of profitability NO
but do not run away from packing on poor households, they grow for them choose. The primary source of growth in the company’s profitability is its own production
electiny. In particular, it was carried out in nuclear power Dukovanech
a Temeln or to make it unlike electiny
z uhelnch ii gas sources you costly allowed in the form of
emission allowances EU.

NO
own made choose non-households and companies directly, ie directly from electr, or it would be a breach of European single market rules. Company made choose prod to Leipzig stock marketwhere her daughter buys her back company EZ Sale. And only then choose for sale to households and companies in the Czech Republic.

You will be beaten in the first year NO for own sale electiny final customer in R lingered. Holt because a daughter NO Sales shopped at stock market choose very expensive. Expensive stems from the changes in the autumn panic market gasshe was panicked this year due to the economic consequences of wolves on Ukraine and related
sankc. After all, it’s all about things. The change in the lack of filling of European stocks with gastch in hands Gazpromwas seen again today Russia on the wolf. The Kremlin is afraid to get Europe
see he’s Nmeckem to the cages, to submit to him, and to fall
Ukraine. That’s what he did. Especially in the first weeks after the invasion of Customs Waste rumbled in response to Russian aggression and a surprisingly unified line.

Every stock exchange buys daughters NO Sales were and are due to panic so expensive that tax prices can not be completely penalized at the end of the order. Some of them have fixed prices and prices for the others can not be changed from day to day.

So at the time of the sale to its own end customers NO this year there are on average delays, more than generously this delay replaces his sale electiny
outside the group. In such an arrangement toti u NO full of panic-driven stock prices. esko is one of the largest exporters electiny to the world NO is its largest domestic manufacturer. The essential st electiny, which he does not have to buy back for his customers, so he will give him a fairy tale. So that it will reliably cover the change in the first quarter of this year, it is almost 200 million crown was created by the sale of own customers for it, not stock exchange prices.

Production and sales electiny na stock market other customers, not their own subsidiary, this year during the first three years of the company NO issued on 19 billion crowns
more than in the same period. That means no more than 200 percent. In addition, it would energy prices mly v esku, v Europe, even in the world in the foreseeable future to decline. On the contrary. No wonder they have been since the arrest of this year EZ shares about 40 percent in. And this is what some analysts see in them gave great growth potential. I told you from J&T Bank that in the next twelve months EZ shares will now be priced at less than 1,200 crown per share for more than 1600 crownie another 40 percent in.

Navc,
NO is dividendov title. This year management companies suggests dividend 44 crown in action. When looking at vi dividends in the past ten years it belongs to the dark. Le due to piblen profitability companiesequal debt and relatively small investments could start and you 90
crown in action. And the pressure on the naven dividends it is here now, and it will be especially in those years. Mainly because it is 70 percent owned NO is stthe could only make tons dividends contribute to the castle energy poor households. Z tons dividends but, of course, such minority shareholders would rejoice NO. Szka na zven dividends is thus another motive in the background of this year’s significant price increase action companies.

Of course, do energetickch The title can also be invested for
borders. You shares marsh petrochemick spolenosti MOL in budapest stock market
last week they grew significantly, immediately by more than six percent, in response to the approval EU embargo on Russian oil. Investors bought them in large numbers shares the second largest operator of filling stations in Ror
embargo will not apply to his business. It will also have discounts. Embargo EU na
Russian oil is, according to an analysis by Bloomberg, the first pro MOL zvlt pzniv. His mare therefore, they will grow above the historically record number of April and April (they were especially so highthat is business prefer to fail). MOL toti according will process extrmn discount Russian oil and sell here at falling prices, even if I go.

But they are working hard for evaluation. With a gradual step Russian gas z EU in those years, it is especially represented
zkapalnn plyn deaf z USA. They are also growing rapidly shares americkch companieswho provide these supplies. You shares companies Antero Resources have lost almost 230 percent in the last year. Just since the invasion Russia na Ukraine about almost 100 percent. Terno.

Luk Kovanda, Ph.D.

Hlavn ekonom, Trinity Bank