Press releases pg. 1

CEZ Group signed a share purchase agreement on the disposal of its Polish conventional assets with ResInvest Group, following a competitive auction process launched on 26th of March 2024. The sale includes companies that own and operate two hard coal-fired power plants Skawina and Chórzow with combined production of heat and power. Closing of the transaction is subject to approval by the Polish antitrust authority. CEZ will continue to develop modern ESCO energy services in Poland through the companies within the Elevion Group.

Operating Profit before interest, taxes, depreciation and amortization (EBITDA) reached CZK 100bn in for first three quarters of the year, up by CZK 5 billion year-on-year. The increase in EBITDA is mainly due to the end of the obligation to pay levies on excess revenues from power generation in the Czech Republic. On the other hand, the lower earnings of Trading and the Mining segment have a negative effect. Net Profit reached CZK 23.4bn, down CZK 6.4bn year-on-year. CEZ Group raises its full-year 2024 outlook, with EBITDA at CZK 126-130bn and adjusted Net Profit at CZK 26-30bn.

ČEZ Group has completed the acquisition of a 55.21% stake in the GasNet Group, the largest gas distribution infrastructure operator in the Czech Republic. Natural gas, and later also hydrogen, will play a key role in the future development of the country’s economy. With this acquisition, ČEZ Group supports the transformation of the heat generation industry and its transition from coal to natural gas and hydrogen. The stake sold was previously managed by Macquarie Asset Management, acting on behalf of the funds it manages. The transaction has already been approved by the Czech Ministry of Industry and Trade and the European Commission.

Operating profit before depreciation and amortization (EBITDA) reached CZK 69.2 bn in the first half of the year, an increase of CZK 6.8 bn year-on-year. Net Profit reached CZK 21.1 bn, down CZK 1.2 bn year-on-year. The increase in EBITDA is mainly due to the end of the obligation to pay levies on excess revenues from generation in the Czech Republic, which burdened the costs of the first half of last year by CZK 11.1 bn. On the other hand, the main negative factors include lower profits from commodity trading and the impact of different nuclear unit outage schedules. CEZ Group raised its 2024 full-year EBITDA outlook to CZK 118 to 122 bn and confirmed its expected Net Profit, adjusted, of CZK 25 to 30 bn.