According to ČEZ, the reason for the growth is, among other things, the enormous rise in commodity prices on wholesale markets and a record profit from commodity trading on Western European markets.
–
CEZ’s majority shareholder is the state, which holds about 70 percent of the shares through the Ministry of Finance.
–
The group increased this year’s full-year EBITDA outlook to 95 to 99 billion crowns and its net profit outlook to 45 to 49 billion.
–
“The expected net profit for the full year 2022 indicates a dividend, in the case of setting the upper limit of the applicable dividend policy, at the level of CZK 67 to 73 per share,” said CEZ CEO Daniel Beneš.
–
“Therefore, the highest dividend in the company’s history will probably be paid next year, and the majority owner, the Czech state, could receive more than 27 billion crowns,” he added.
–
According to ČEZ, the rise in market electricity prices contributed to the growth of profit in the generation segment, but had a negative effect on the results of the energy sales segment.
–
Operating profit before depreciation in the production segment rose by CZK 28 billion year-on-year to CZK 36.7 billion in the first quarter, ie more than four times last year’s level.
–
On the other hand, in the sales segment, operating profit fell by 2.4 billion year on year, so it fell into a loss of about 0.2 billion crowns.
–
“The reason is the ever higher purchase prices of electricity and gas, as well as the care for new customers that ČEZ Prodej took care of after suppliers who failed last year,” said ČEZ spokesman Ladislav Kříž.
–
Last October, Bohemia Energy, the largest group of alternative energy suppliers in the Czech Republic, announced the cessation of activities and supplies of electricity and gas due to the extreme rise in energy prices in the markets.
–
Thus, 900,000 Bohemie Energy customers ended up in the mode of suppliers of last resort (DPI), most of them at ČEZ.
–
After Bohemia Energy, other suppliers also ended up. CEZ Group stated today that 99.8 percent of customers have already been transferred to the standard contract from the DPI regime.
–
The number of electricity and gas customers of the ČEZ Group thus increased by 14 percent to about 3.16 million in the first quarter of this year, mainly due to the transition from DPI.
–
Similarly, the volume of electricity and gas supplies also increased year-on-year, by a total of 15 percent to 5.3 terawatt hours.
–
Electricity production from renewable and nuclear sources in the ČEZ Group increased slightly by one percent year-on-year to 8.9 terawatt hours in the first quarter.
–
On the contrary, production from coal and steam-gas sources fell by ten percent to six terawatt hours, mainly due to a decrease in electricity production at the Počerady steam-gas power plant by 40 percent.
–
According to ČEZ, the current geopolitical situation strengthens the group’s focus on producing electricity from emission-free sources. For example, 17 new photovoltaic power plant projects with a total capacity of 173 megawatts are planned, CEZ said.
–
Due to the Russian invasion of Ukraine, the government wants to reduce the Czech Republic’s dependence on supplies of energy and raw materials from Russia in the future.
–
Electricity consumption in CEZ’s distribution area fell by four percent year-on-year in the first quarter, but only by one percent to 10.2 terawatt hours, taking into account climatic and calendar effects.
–
According to the group, consumption in large companies fell by one percent and household consumption by nine percent.
–
According to CEZ, high temperatures in the first quarter of this year contributed to the sharper decline in household consumption.
—
