10.11.2020 08:52, BAACEZ
| Financial results for 3Q 2020 | ||||
|---|---|---|---|---|
| billion K | 3Q 2020 | Market consensus * | 3Q 2019 |
and / and |
| Vnosy | 49,3 | 51,0 | 48,0 | +2,7 % |
| EBITDA | 12,2 | 12,5 | 9,8 | +24,5 % |
| EBIT | 1,2 | 4,5 | 2,3 | -47,8 % |
| is zisk |
2,3 | 2,4 | 0,5 | +360 % |
| Earnings per share (K) |
4,3 | – | 1,0 | +330 % |
* average according to the EZ survey
Note: net profit and earnings per share are also due to extraordinary non-cash effects.
EZ presented a good strength in 3Q 2020, which slightly surpassed our expectations and thus fulfilled the expectations of the market. Operating profit EBITDA meziron increased by 24.5% to 12.2 billion K, while the estimate was 11.5 billion K and the average analytical estimates according to the Reuters survey, respectively. EZ alone ranged at the level of 12.4 billion K, resp. 12.5 bn. compared to the forecast of me was more pronounced on emission allowances. In addition, Romanian distribution and the domestic sales segment developed well.
The positive information is pasted by the EBITDA’s annual insight, resp. net profit to K 64 billion, resp. 23 billion K of the original interval 62 64 billion K, resp. 21 23 bn K. Improved economic insight after good results for the first nine months of this year is fulfilling our expectations, from the forecast of other net profit even slightly better than our forecast. This year’s expected profitability of CZK 23 billion thus indicates, when realizing a similar salary ratio as last year, the current dividend paid in 2021 in the range of 41,42 K per share.
According to the assumption, EZ for 3Q 2020 showed growing profitability, improved the insight of the economy. Overall, we rate the results of the report slightly positive.
Jan Raka, analyst, Fio banka, as
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