CEZ Group net income surpassed 14bn CZK and rose by 27 % compared to the previous year

CEZ Group reached net income of 14.1bn CZK according to the IFRS (International Financial Reporting Standards), while the income reached in the first three quarters last year was 11.1bn CZK. CEZ Group increased its net income by 3bn CZK that way. The income increase reflected mainly excellent performance in operations, driven by higher sales of electricity, while operating expenses were rising at lower pace. Operating revenues rose by 20.2 % to 87.84bn CZK, while operating expenses were rising at lower pace, namely by 14.8% to 66.98bn CZK. Operating profit reached 20.87bn CZK and increased by 41.9% compared to the previous year. At the end of the third quarter, CEZ Group consisted of 37 fully consolidated companies including three newly acquired Bulgarian distributors. The privatization agreement about the Romanian distribution company Electrica Oltenia was settled at the beginning of this year´s October. Consequently, its economic results have not been consolidated with CEZ Group´s yet.

Chosen/select CEZ Group consolidated results for 1st-3rd quarters 2005

	I – III Q 2005 (bn CZK)	I – III Q 2004 (bn CZK)	Index 2005/2004
Operating revenues	87 842	73 061	120,2 %
- sales of electricity	83 323	67 763	123 %
Operating expenses	66 977	58 352	114,8 %
Operating income-EBIT	20 865	14 709	141,9 %
Net income	14 086	11 106	126,8 %

Detailed information on www.cez.cz (for investors, English version)

Ladislav Kriz, Press Officer, CEZ, a.s.

30. 11. 2005

CEZ Group net income surpassed 14bn CZK and rose by 27 % compared to the previous year

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