Press releases pg. 22

Net income adjusted for extraordinary effects was CZK 27.7bn in 2015, which exceeds original expectations by more than CZK 700m despite a further decrease in the realization prices of generated electricity and lower production in nuclear power plants. A positive effect was derived especially from the refund of a portion of tax on emission allowances from 2011 and 2012 and a successfully implemented program of savings and pro-growth measures. CEZ Group managed to cut fixed costs by CZK 3bn while increasing total revenues to CZK 210bn, primarily thanks to increased sales of electricity, gas, and heat to end customers.

Operating Profit Before Depreciation (EBITDA) for the first half of this year reached CZK 35.5 bn while Net Profit adjusted for extraordinary items reached CZK 15.7 bn. Despite the continuing decline in the electricity selling prices, Operating Revenue rose to CZK 102.9 bn, primarily due to growing volumes of power, gas and heat sold to end customers. CEZ Group expects to generate a Net Profit adjusted for extraordinary items at CZK 27 bn by the year end.

Operating Profit Before Depreciation (EBITDA) for Q1 2015 reached CZK 19.1bn, Net Profit was recorded at CZK 7.6bn and the company’s market capitalization rose to CZK 335.2bn. CEZ Group met the initial expectations for the whole year, which expect EBITDA to reach CZK 70bn and Net Profit adjusted for extraordinary items at CZK 27bn.

Earnings before depreciation (EBITDA) reached 72.5 billion CZK in 2014, which is CZK 2 billion more than originally anticipated. This result was achieved in spite of unfavourable weather conditions and negative development in power sector regulations. Net profit adjusted for extraordinary influences reached CZK 29.5 billion. Market capitalization grew by CZK 35.3 billion to CZK 315.7 billion in 2014 and thus CEZ became the most valuable company in all of the new EU membership countries. Settlement agreement with Albania and the successful start of an ambitious savings program contributed to these good results. Thanks to active measures, the CEZ Group expects EBITDA to be approximately CZK 70 billion in 2015.