Press releases pg. 16

The CEZ Group’s earnings before interest, taxes, depreciation, and amortization (EBITDA) was CZK 60.2 billion, up 21% year-on-year. Net income increased by 38% to CZK 14.5 billion. The increase is mainly due to the rise in selling prices of the electricity generated in the Czech Republic thanks to the multi-year presales in the wholesale markets in Germany and also higher profit from commodities’ trading, which at end of year contributed to the significantly higher than expected profit of the ČEZ Group. Net income adjusted for extraordinary effects was CZK 18.9 billion.

According to the 2013 agreement that put an end to the many years of disputes concerning coal deliveries from Vršanská uhelná, the Počerady power plant has been sold, effective 2 January 2024.

CEZ Group’s net income rose by 49% to CZK 13.6 billion for the first three quarters of 2019, and its EBITDA reached CZK 44.7 billion, recording a 16% year-over-year growth. These increases can be attributed in particular to growing electricity selling prices and higher profits from commodity trading. Net income after extraordinary items reached CZK 14.7 billion.

INVEN CAPITAL, the CEZ Group’s investment fund that seeks out promising projects on the European energy start-up market, has acquired a minority share in German innovation company Zolar. This company provides digital solutions for rooftop photovoltaic installations and combined photovoltaic and battery systems. In addition to Inven Capital, BayWa r.e. Energy Ventures participated in this round of investment with a total volume of EUR 10 million. The existing investors Heartcore Ventures, Statkraft Ventures and Partech Ventures likewise increased their shares.