International economic results of CEZ Group January - June 2004
The net profit of CEZ Group increased by 58 per cent
CEZ Group reached, according to IFRS (International Financial Reporting Standards), net profit of CZK 7.3 bn, when the profit reached in the same period last year was CZK 4.6 bn. The sharp profit increase was caused mainly by enlargement of CEZ Group consolidated companies from the second quarter of 2003. As of March 31, 2003, the Group consisted of only 18 consolidated companies. In the second quarter 2003, when regional distributional companies allied, the consolidated group enlarged to 31 companies and as of June 30, 2004 to 33 companies. The total revenues increased by 41 % to CZK 50.5 bn, the total expenses rose by 34 % to CZK 39.3 bn from last year´s CZK 29.3 bn. CEZ Group consisted of 99 companies, out of which 33 were consolidated as of June 30, 2004. Ladislav Kriz, Press Officer, CEZ, a. s.
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