In the first half of this year, the CEZ Power Company generated a net profit of 12 329 million CZK, i.e. 5.1 billion CZK more than in the same period last year, which translates into a 71% increase. However, this massive growth of profit was caused mainly by the sale of a 66 % equity share in CEPS (a transmission network operator), when the difference between the sale price and the residual balance totalled 12.5 billion CZK. The income tax which CEZ reported in connection with this transfer amounted to 4.2 billion CZK.
It is good to know that we further reduced the electricity prices for domestic customers, and yet we managed to increase our overall profits from electricity supply and the backup services by almost 11 per cent, chiefly due to considerably higher sales. In spite of the fact that the depreciation costs rose by 1.6 billion CZK, in connection with full trial launch of the Temelin nuclear power plant, our operating economic result dropped only by 300 million CZK, to 4.3 billion CZK. The ongoing pressure on the efficiency of the company's performance has helped increase the labour productivity by another 20 per cent. said Petr VoboĹ™il, the Vice-Chairman of the CEZ Board of Dierctors and the Executive Director for Company Strategy.In the first half of the year, CEZ increased its sales of electricity by 9.8 %. The volume of sales on the domestic market increased by 1 519 GWh (i.e. by 8.4 %), up to 19 686 GWh, while the volume of exported electricity increased by 13.5 %, up to 8 779 GWh. CEZ further reduced the price of electricity for the domestic market, while increasing the price of exported electricity.The CEZ-operated power plants produced the combined volume of 29 959 GWh, which means an increase by 3 579 GWh (13.6 %) compared to the last year. Of this, the production output of coal-fired power plants rose by 1 176 GWh (7.1 %) and the production output of nuclear power plants rose by 2 794 GWh (31.4 %), in connection with the gradual launch of the reactor units of the Temelin nuclear power plant. The Temelin nuclear power plant alone generated 4 734 GWh of electricity, 116 % more than last year. On the other hand, the electricity output generated by hydropower plants fell by 39.8% (391 GWh), as a result of the damages which last year´s floods inflicted on the power plants Štechovice and Orlik.CEZ spent 1 789 million CZK on investment, which is 903 million CZK less than last year. The main investment-needing projects are the completion of the Temelin nuclear power plant and the modernisation of the Dukovany power plant.The continuing rationalisation measures, along with the optimisation of the organisation structure of the company, resulted in downsizing the company personnel by 410 people (5.6 %) compared to last year. The rightsizing took place namely in the sector of nuclear power plants. As of| (mil. CZK) | compared to last year | |
| Total revenues - revenues generated by sales of electricity and by backup services | 44 175 25 220 | + 36.2 % + 10.8 % |
| Total costs, without income tax | 27 371 | + 15.9 % |
| Profit before taxation | 16 804 | + 90.4 % |
| Profit after taxation | 12 329 | + 70.7 % |
| Selected indicators: | ||
| Efficiency of gross production (MWh/month/person) | 707 | + 19.7 % |
| Net profitability of the company's own capital (in % for the previous 12 months) | 9.0 | + 23 % |
| Added value per employee (thousand CZK/month/person) | 335 | + 20.9 % |
| Profit per share (CZK) | 20.8 | + 70.5 % |