Press releases pg. 22

Since the 12th of February, ČEZ has been reporting its commodity exchange transactions and OTC commodity, interest rate and currency derivative transactions to a trade repository.

CEZ offered the City of Prague to make a shareholders’ agreement in connection with purchasing the shares of Pražská plynárenská Holding a.s. and Pražská plynárenská, a.s. from E.ON Czech Holding AG and then buying the natural gas trading and sales segment of Pražská plynárenská, a.s.

EBITDA reached CZK 64.3 bn and remained almost unchanged year on year (down by CZK 0.2 bn). The CEZ Group has not changed its expected operating results for the entire year, with EBITDA expected to reach CZK 81 bn. Net Income declined by CZK 1.6 bn to CZK 31.7 bn in a y-o-y comparison. The main factor behind this decline were adjustments to assets created due to regulatory and legislative interventions in the European energy sector and also due to the ongoing trend of declining wholesale prices of electricity. For the same reasons, the CEZ Group has adjusted its all-year Net Income outlook to CZK 35 bn.

EBITDA rose by CZK 0.9 bn (1.9%) year on year to CZK 49.2 bn. Net Income grew by 5.3% y-o-y to CZK 28.6 bn. The CEZ Group has not changed its expected results for the entire year; EBITDA is expected to reach CZK 81 bn and Net Income CZK 37.5 bn. The main factor behind the y-o-y Net Income growth was the end of operations in Albania, correction factors for distribution in the Czech Republic, and trading in emission allowances. Negative factors included in particular declining electricity prices, a lower quantity of emission allowances allocated for production, and the overall uncertainty concerning the future direction of the energy sector.