Half-year reports

Selected Events in H1 2013

January

• Standard & Poor’s affirmed its A- rating with a stable outlook
• Control of the Albanian subsidiary CEZ Shpërndarje Sh.A. was lost due to license revocation by the Albanian regulatory authority ERE. Company management was assumed by an administrator appointed by the regulatory authority.
• The Ministry of the Environment of the Czech Republic issued a favorable opinion within the environmental impact assessment (EIA) of the construction of two units at the Temelín Nuclear Power Plant.

February

• Start of revocation proceedings concerning the licenses for the distribution and sales of electricity held by CEZ Group companies in Bulgaria during an unstable political situation in the country.

March

• A long-term contract concluded between ČEZ, a. s. and the mining company Vršanská uhelná from the Czech Coal group for coal deliveries to the Počerady Power Plant, including an option contract for contingent future sale of the power plant
• Contract on the sale of the Chvaletice Power Plant concluded with Litvínovská uhelná a.s. (Severní energetická a.s. since August 2, 2013)
• Completion of the preliminary evaluation of bids for the construction of new Units 3 & 4 at the Temelín Nuclear Power Plant and handover of the evaluation to the bidders.

April

• 1st place in a Project of the Year competition for heat supply systems in the “Development of Heat Supply Systems” category. The award was won by ČEZ Teplárenská, a.s. for the project to connect the city of Bílina to distance heating from the Ledvice Power Plant.

May

• Initiation of international arbitration against the Republic of Albania, in which ČEZ, a. s. claims compensation for damage arising from failure to protect its investment in the distribution and sales company CEZ Shpërndarje Sh.A.
• Juice retail customer program launched
• Memorandum signed with the Moravia-Silesia Region (as the first region) and the statutory city of Ostrava, concerning their entry into CEZ Group’s Electromobility project.

June

• The ordinary ČEZ, a. s. General Meeting was held.
• The process of sale of the Dětmarovice Power Plant was abandoned in its final stage due to GASCONTROL’s withdrawal.

Selected Events Until the Closing Date for the Half-Year Report

July

• Information about postponing the expected deadline for agreement with the contractor for the new Units 3 & 4 of the Temelín Nuclear Power Plant was published
• A single operation control system was put into operation for the whole distribution area of ČEZ Distribuce
• Announcement of intention to provide mobile phone services and become a fully-fledged virtual operator in the Czech Republic.

August

• The letter of the European Commission’s approval of the sale of the Chvaletice Power Plant was received, which fulfilled the second and last condition precedent for the settlement of the sale
• Increasing the output of Unit 2 of the Temelín Nuclear Power Plant by utilizing project reserves initiated
• A complaint and initiative sent to the European Commission against Romania on grounds of restriction of support for electricity generation from renewable sources.

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Half-year Report 2013

Selected Events in H1 2012

January

• An organizational change was made in ČEZ, a. s., cancelling the position of Chief Operating Officer and reducing the number of other divisions directly managed by the CEO or COO from nine to seven.
• The company bought back its own bonds worth approx. EUR 350 million in total (approx. CZK 8.9 billion).
• A loan contract for EUR 40 million (approx. CZK 1.0 billion) was concluded with Goldman Sachs Bank USA.

February

• The first portion of a loan of up to EUR 100 million (approx. CZK 2.5 billion) signed with the European Investment Bank.
• The modernized turbine at the Tisová Power Plant put into regular operation.

March

• Ceremonial start of construction of a new gas-fired source (840 MW) within the Počerady Power Plant area. The construction should be finished in 2013.

April

• An organizational change was made in ČEZ, a. s., merging the Distribution and International divisions into a single Distribution and International division.

May

• License to operate Unit 2 of the Temelín Nuclear Power Plant until May 31, 2022 obtained from the State Office for Nuclear Safety.
• The second portion of a loan of up to EUR 100 million (approx. CZK 2.5 billion) signed with the European Investment Bank.
• Notice of intention to examine the possibility of a strategic or financial partner’s participation in the construction of new units at the Temelín Nuclear Power Plant. The partner would probably be able to join the project only after an EPC contract is signed with the contractor selected in the ongoing public tender.

June

• Comprehensive renewal of the Tušimice II Power Plant finished.
• A proposal was submitted to end the investigation conducted by the European Commission since 2009 by means of a settlement, in which ČEZ, a. s. would undertake to sell one or more of its coal-fired power plants with a capacity of at least 800 MW.
• Annual ČEZ, a. s. General Meeting was held.
• A transaction in which CEZ Group acquired a 100% stake in the Czech company Energotrans and sold a 50% stake in the MIBRAG German mines was settled.
• The 20th CEZ Group electric vehicle charging station was put into operation.

Selected Events until the closing date for the Half-Year Report

July

• Envelopes with offers from three qualified bidders for the construction of two new units at the Temelín Nuclear Power Plant received and opened.
• The selection of a financial advisor for the sale of ČEZ, a. s. coal-fired power plants whom potential buyers can contact was reported.
• The Czech Republic authorized by the European Commission’s Directorate-General for Climate Action to directly allocate emission allowances in 2013-2020.
• Investigation into ČEZ Měření’s steps in the detection of unauthorized electricity consumption terminated. The Supreme Court of the Czech Republic dismissed the Supreme Prosecutor’s appellate review.

Download

• Half-year Report 2012
• CEZ Raport polroczny za 2012 r.

Important Events in H1 2011

January

• Natural gas started to be supplied to end users in the wholesale segment and electricity and gas started to be supplied to retail customers in Slovakia.
• CEZ Bulgarian Investments B.V., a new company, was established as part of CEZ Group's plans aimed at the development of renewables in Bulgaria.

February

• The Boards of Directors of ČEZ, a. s., and of AKKÖK, the two major shareholders of Akenerji Elektrik Üretim A.S., adopted a decision to authorize Akenerji Elektrik Üretim A.S. to accept indicative bids in relation to the sale of assets within the company's scope of business.

March

• A new gas fired source (840 MW) started to be constructed within the Počerady Power Plant area. The construction should be finished in 2013.

April

• The 2010 report on the application of the principles of administration and management of companies of the Warsaw Stock Exchange by CEZ was published.
• CEZ won the competition for implemented district heating and cooling systems projects, organized by the Association for the District Heating of the Czech Republic. CEZ Group along with the Bohumín municipality won the category "Development of Heat Supply Systems" with the project for heat transmission from the Dětmarovice Power Plant and for building a new heat supply system for the town of Bohumín.
• The action plan of the NEW VISION strategic initiative was adopted.
• ČEZ Prodej, s.r.o., acquired an internationally recognized certificate of compliance with ISO 9001:2008 from the accredited company Lloyd’s Register Duality Assurance.

May

• The first partners to be involved in the creation of the infrastructure for electric car charging stations in the Czech Republic presented.
• A 100% share was acquired in the Romanian company TMK Hydroenergy Power S.R.L., owning a system of hydro power plants near the town of Reşiţa.

June

• The ordinary ČEZ, a. s. General Meeting was held.
• ČEZ, a. s., and AKKÖK adopted the decision, based on the assessment of the submitted indicative bids for the purchase of assets associated with the Akenerji company, to invite selected bidders to submit their final bids.
• OSART mission at the Dukovany Nuclear Power Plant.

Important Events in July 2011

July

• A domestic bonds program (in CZK) with a total extent of up to CZK 30 billion was established.
• The plan to sell the MIBRAG mining company and purchase the Energotrans company was announced.
• CEZ won the Employer of the Year competition in the category of "The Most Desired Company" (based on a research study among university students) and in the category of "Human Resources Managers" for the "Where else ..." project intended to promote studies at university-level technological facilities and recruitment of graduates from such facilities. This competition was organized by the Fincentrum Media company under the auspices of the Ministry of Labour and Social Affairs.

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• Half-year Report 2011
• Raport polroczny za 2011 r.

Important Events in H1 2010

January

• CEZ Group commences supplying natural gas in the Czech Republic, in a volume of 1.7 TWh to over 90 customers at over 200 connection points. Most are large end-customers of natural gas.

February

• new company established for purpose of spinning off Chvaletice Power Station organizational unit.
• announcement released that all suppliers who filed requests to participate in RFP (Request For Proposal) proceedings in the public tender “Completion of Temelín Nuclear Power Station” qualified for participation.

March

• withdrawal from consortium that aimed to build a new plant, repair an existing one, and expand coal mining operations in Kosovo.

April

• a public tender is announced to select a supplier to provide data center services in the period June 1, 2011 – May 31, 2021.
• Vlastimil Jiřík resigns from the Supervisory Board of ČEZ, a. s. for health reasons.
• the Smart Region project commences with the signing of the relevant agreement between ČEZ, a. s. and the City of Vrchlabí in Northeastern Bohemia.

May

• CEZ Group introduces a new safety and environmental protection policy with the aim of increasing the effectiveness of safety management and reinforcing our systemic approach in this area.
• the second Green Energy Forest is established. The forest, where CEZ Group donates one tree for each customer on the Green Energy tariff, is located in Přimda, West Bohemia.
• ČEZ, a. s. is recognized by the Ministry of Finance of the Czech Republic as the largest contributor of taxes to the State budget in 2009.
• ČEZ Teplárenská, a member of CEZ Group, takes over operation of sources and grids belonging to LENOXA, which entered insolvency proceedings. The facilities are located in Brno, Kuřim (South Moravia), Doksy (North Bohemia), and Krajková (Northwestern Bohemia), among other places.

June

• sales of natural gas commence to household customers in the Czech Republic.
• start-up of first turbine in the newly-built CEZ Group wind farm at the Fântânele site in Romania.
• the Board of Directors of ČEZ, a. s., acting with the powers of the General Meeting as sole shareholder of the merged companies ČEZ Distribuce, a. s. and ČEZ Distribuční zařízení, a.s., decides to merge these two companies effective from October 1, 2010.
• Annual General Meeting of ČEZ, a. s. is held.

Important Events in July 2010

July

• construction commences on the first CEZ Group biogas station in the town of Číčov in the Pilsen Region. The station’s planned installed capacity is 526 kWe.
• the unfinished Vranovská Ves solar power plant in the South Moravia Region is acquired.
• the 2009 Report on Compliance with the WSE Code of Best Practice is published

Download

• Half-year Report 2010
• Raport polroczny za 2010 r.

Important Events in the First Half of 2009

January

• maturity of loan agreement entered into in January 2008 extended by one year. At the same time, loan amount reduced from EUR 600 million to EUR 550 million (approximately CZK 15.1 billion);
• ČEZ, a. s. serves notice that it will exercise put option to sell its 51% stake in NERS d.o.o. to Elektroprivreda Republike Srpske, its partner in the Gacko project.

February

• Dukovany Nuclear Power Station long-term operation strategy approved, including plan to obtain license and prepare Dukovany Nuclear Power Station for operation in the period 2015–2025;
• stated capital of ČEZ, a. s. reduced in conjunction with share repurchase;
• “ČEZ Against the Crisis” initiative launched to assist Czech economy and customers of ČEZ in mitigating the impacts of the economic crisis;
• Severočeské doly a.s. and J & T Group sign agreement with owners of Mitteldeutsche Braunkohlengesellschaft mbH, the Germany-based brown coal mining company, on purchase of a 100% stake in the company.

March

• new service launched – electrical wiring and equipment installation work in distribution grid renewal and construction projects, particularly at substations. The service provider is ČEZ Energetické služby, s.r.o.;
• Green Energy Council selects 18 best projects and distributes a total of CZK 8.6 million to their authors. In the third annual Green Energy Fund grants awarding process, a total of 81 projects were entered in the awareness category, 14 in the research category, and 25 in the construction category.

April

• South Bohemia Regional Assembly revokes a 2004 resolution that rejected a plan to build reactor units 3 and 4 at Temelín Nuclear Power Station. At the same time, the Assembly approved a framework agreement with ČEZ, a. s., which has agreed to invest CZK 4 billion in compensation in the region over the next 10 years, CZK 2.5 billion of which will be investments relating to completion of the power plant;
• agreement signed on purchase of the company CZECH HEAT a.s., whose subsidiary owns a pure biomass combustion-fired cogeneration plant in Jindřichův Hradec, South Bohemia;
• ČEZ management approves business plan for new CCGT power plant with installed capacity of 800 MW in Mělník, Central Bohemia;
• ČEZ moves to 336th in Global 2000 ranking of world’s largest corporations, published by Forbes magazine;
• ČEZ takes 2nd place in the 100 Most Admired Companies of the Czech Republic ranking for 2009;
• ČEZ takes 1st place in the Top Corporate Philanthropist ranking by volume of donated funds.

May

• ČEZ files proposal to commence arbitration proceedings in conjunction with Gacko project on grounds of long-term breach of contractual obligations by project partners in Republic of Serbia in Bosnia and Herzegovina;
• shareholders agreement signed between ČEZ and Slovak-based company Jadrová a vyraďovacia spoločnosť, enabling establishment of joint venture for construction of a new nuclear power plant at Jaslovské Bohunice site in Slovak Republic;
• ČEZ, a. s. places 219th in ranking of 500 biggest European listed companies compiled by the German daily newspaper Handelsblatt. In the previous ranking, ČEZ placed 226th.

June

• acquisition of 76% stake in Albania’s sole distribution company, Operatorii Sistemit te Shperndarjes sh. a.
• launch of “FutureMotion – Energy of Tomorrow” initiative for investments in emerging technologies. The part of the initiative relating to electric cars is already underway.
• 15-year gas supply contract signed for planned CCGT power plant in Počerady. Groundbreaking for the new plant is planned for October 2010.
• EUR 262.35 million (approximately CZK 6.8 billion) loan agreement signed to finance contract with multinational supplier of German technology being used in construction of Fântânele Wind Power Station project in Romania.
• ČEZ wins Award for Greatest Contribution to Development of Investment in the Czech Republic in annual Investor of the Year 2008 juried competition organized jointly by CzechInvest, the Investment and Business Development Agency, and AFI, the Association for Foreign Investment.
• ČEZ places 2nd in 100 Most Admired Companies of the Czech Republic for 2008, an annual ranking compiled by the CZECH TOP 100 Association, and 1st place in the Generation and Distribution of Electricity, Water, Gas, and Steam industry category; Severočeské doly placed 2nd in the Mining of Raw Materials category.

Important Events in July and August 2009 (Up Until Half-year Report Closing Date)

July

• ČEZ signs deal with J & T Group, the new owner of Pražská teplárenská a.s., on purchase of a 48.67% stake.
• ČEZ wins UK and Continental Europe Award for best practices in investor relations in the Czech Republic, awarded annually by the British IR Magazine. Barbara Seidlová of ČEZ, a. s. was named the Best IR Manager in the Czech Republic.

Download

• Half-year Report 2009
• Raport polroczny za 2009 r.

Important Events

January

• Memorandum of Understanding signed between ČEZ, a. s. and a subsidiary of United States Steel Corporation, creating a framework for the possible construction of a power plant in US Steel's mill in Košice, Slovak Republic, with installed capacity of up to 400 MW;
• bid submitted to upgrade an existing power plant and possibly build a new one in Galaţi, Romania;
• bid submitted for strategic partnership in planned construction of a new power plant in Borzeşti, Romania;
• EUR 600 million (approximately CZK 15.8 billion) loan agreement signed, for general financing needs including purchase of a 7% stake in MOL as part of the strategic alliance between ČEZ, a. s. and MOL Nyrt;
• launch of advertising campaign underlining price advantage offered by CEZ Group in the Czech market, compared to principal competitors.

February

• Martin Roman re-elected Chairman of the Board of Directors and confirmed as Chief Executive Officer of ČEZ, a. s.

March

• first place in large-cap European utilities category of the "Edison Electric Institute International Utility Award." The award was granted according to growth in market capitalization over the three-year period ended 31 December 2007;
• within a single day, power is restored for up to 96% of the total 925,000 customers who experienced an outage due to windstorm Emma;
• positive zoning decision obtained for construction of the Mělník small-scale hydro power plant. Construction is to begin in late Q3 or early Q4 2008.

April

• first place in 100 Most Admired Companies of the Czech Republic ranking;
• ČEZ NEWS won first place in Best Internal Periodical category in the Golden Semicolon 2007 contest organized by PR Club;
• draft agreement on merger of ČEZ, a. s. and CEZ Group power company Energetika Vítkovice, a.s. approved by the Boards of Directors of both companies; merger is to take effect on 1 October 2008 with a decisive date of 1 January 2008.

May

• General Meeting of ČEZ, a. s. approved CZK 40/share dividend, reduction of share capital, another buy-back of company shares, and a revision of the option program for executives;
• 226th place in "Europas TOP 500" ranking of biggest European companies with publicly traded stock. The ranking is compiled by the German daily Handelsblatt based on 2007 turnover. In 2006, ČEZ, a. s. placed 239th in the same ranking;
• opening of a new information center - CEZ Group's eighth - in the Hradec Králové small-scale hydro power plant; the center is dedicated to renewable resources;
• Russia-based TVEL supplied its newest type of nuclear fuel to Dukovany  Nuclear Power Station, enabling more cost-effective operation of all four reactor units.

June

• conclusion of awareness/education campaign "How to save every day" in 36 cities of the Czech Republic;
• I & C Energo a.s. sold to MOL, the Hungary-based petrochemical group;
• merger agreement signed between merged company ČEZData, s.r.o. and successor company ČEZnet, a.s.;
• ČEZ, a. s. was ranked first among payers of Value Added Tax to the Czech Republic national budget, as ranked by the Ministry of Finance of the Czech Republic. For the year 2007 ČEZ, a. s. raised CZK 8.6 billion in VAT revenue for the State. ČEZ Distribuce, a. s. placed 14th and Severočeské doly a.s. was 20th;
• 9th issue of ČEZ, a. s. domestic bonds retired.

Important Events of July and August 2008 (Up to Semiannual Report Closing Date)

July

• a new eurobond was issued through the EMTN program;
• success in an auction for the Turkish distribution company Sedaşwill allow ČEZ, a. s., acting in consortium with a local partner, to take over management and operation of the company for the next 30 years;
• request for Environmental Impact Assessment of the planned expansion of Temelín Nuclear Power Station (two originally planned reactor units) filed with the Ministry of Environment of the Czech Republic.

August

• 100,000th customer welcomed to CEZ Group Internet sales office;
• Temelín Nuclear Power Station defended Safe Enterprise title;
• completion of Unit 3 overhaul at Dětmarovice Power Station at a cost of CZK 0.5 billion, increasing generating efficiency and reducing unitemissions.

Download

• Half-year Report 2008
• Raport polroczny za 2008 r.

Important Events of H1 2007

January

• business plan for comprehensive retrofit of Prunéřov II Power Station approved

March

• breakup of Electrica Oltenia S.A., with sales operations spun off into CEZ Vanzare S.A. and distribution operations remaining in Electrica Oltenia S.A., which was renamed to CEZ Distributie S.A.
• Romania-based trading company CEZ TRADE ROMANIA S.R.L. formed
• Government of the Czech Republic approves partial privatization of the State’s stake in ČEZ, a. s. (7%)
• ČEZ, a. s. joins the Nordpool power exchange in Oslo, Norway.

April

• 100% stake in Teplárenská, a.s. acquired
• General Meeting of ČEZ, a. s. held which, among other things, approved payment of CZK 20/share (gross) dividend and buy-back of 10% of the company’s own shares
• signing of agreement on formation of the CEZ Group European Works Council.

May

• signing of implementation agreement on joint activities in the framework of NERS, d.o.o., a joint venture of ČEZ, a. s. with Elektroprivreda Republike Srpske in Republika Srpska in Bosnia and Herzegovina
• establishment of CEZ Servicii S.A., the third company to be formed following breakup of Romania-based Electrica Oltenia S.A. in March 2007
• ČEZ, a. s. has been voted Central and Eastern Europe’s best-managed company in a ranking published by the Euromoney magazine
• Warsaw-based company CEZ Trade Polska Sp. z o.o. formed.

June

• work begins on the comprehensive retrofit of Tušimice II Power Station with completion planned in 2010 and budgeted cost of approximately CZK 25 billion; the plant upgrade will add 25 years to the plant’s useful life
• ČEZ, a. s. places second in the overall “All Stars” ranking of the 100 Most Admired Companies of the Czech Republic 2007, first place in the Electricity Production and Distribution category of the non-financial ranking, and first place in the Prague region
• grand opening of the Bukovec Power Station near the City of Plzeň, with installed capacity 630 kW. The plant is the most modern of its kind in the Czech Republic and was built at a cost of CZK 52 million.

Important Events of July and August 2007 (up to Half-year Report closing date)

July

• Unit 2 of Temelín Nuclear Power Station, shut down since May, goes back on-line. During the shutdown, one quarter of the fuel was replaced and a new part of the high-pressure turbine rotor was installed, as a result of which the unit’s output was increased from 981 MW to 1,020 MW as of 12 July 2007
• trading in ČEZ, a. s. electricity begins on the Prague Energy Exchange.

August

• issue terms of a CZK 7 billion CZK-denominated bond issue signed.

Download

• Half-year Report 2007
• Raport polroczny 2007 r.