Press releases pg. 10

Today, the sale of Romanian assets was settled between CEZ Group and funds managed by Macquarie Infrastructure and Real Assets (MIRA). The sale includes a total of seven Romanian companies. The share purchase agreement was signed last October, and the transaction was approved by the European Antitrust Authority and the Romanian Supreme Council of National Defence. CEZ remains present in Romania through CEZ ESCO Romania and CEZ Trade Romania.

CEZ Group’s venture capital fund Inven Capital has examined some 2,400 investment opportunities throughout Europe since 2015, selecting 14 for implementation, including two in the Czech Republic. Companies from their portfolio have launched many innovative projects that will contribute to the fulfilment of global decarbonisation targets, whether in the area of hydrogen technologies, solar energy, energy efficiency and savings, or e-mobility. Inven Capital has already successfully exited two companies, selling them to global players such as Microsoft and Shell. CEZ Group and the European Investment Bank have backed Inven Capital with EUR 240 million, of which approx. EUR 130 mil. have already been invested.

The e-mobility charging software specialist Driivz, in which ČEZ invested through its Inven Capital two years ago, has drawn in another major investor: manufacturer of trucks, buses, and construction machines Volvo Group. The company launched its first electric diggers last year and recently has announced its plan to offer a completely emissions-free truck portfolio by 2040. A joint pilot charging services project between Volvo Trucks, the Volvo Group and Driivz is ongoing. ČEZ charging stations have run on software from Driivz since 2020.

CEZ Group’s EBITDA for 2020 reached CZK 64.8 billion, up by 8% year-on-year. The growth can be attributed primarily to rising selling prices of electricity due to the multiple-year pre-sale in the wholesale market and also due to the stable operation of nuclear sources. The negative effect of covid-19 to the tune of CZK 3 billion was fully compensated mostly by higher profits from commodity trading and lower costs compared to the original expectations. Net Income after non-monetary adjustments grew by 21% year-on-year and reached CZK 22.8 billion. Net Income decreased to CZK 5.5 billion due to increased creation of adjustments related to the sale of Romanian assets and deteriorated conditions for the coal-based energy as well as due to record growth of emission allowance prices.