Press releases pg. 47
CEZ Power company is selling its share in Prazska energetika
The CEZ Power Companyi has today announced in the Hospodařské noviny a one-round tender for a sale of its share in Prazska energetika, a.s. (PRE)ii.
10. 5. 2004
Sales, income and operating revenues of CEZ have risen sharply, despite that, the profit has been decreased by accounting operations.
The operating earnings of Power Company CEZ increased by 1.5 billion CZK (by 48 %) to 4.5 billion CZK in the first quarter of this year. The sale incomes increased by 3.4 billion CZK (by 26 %) and reached 16.3 billion CZK. Despite that, the net profit decreased by 28 per cent to 1 634 million CZK (non-audited, non-consolidated results in accordance with the Czech Accounting Standards). However, this decrease was influenced by changes in methodology of derivate account, foreign exchange rates and income tax increase.
3. 5. 2004
The EU electricity market will grow by 10 per cent
The EU market will grow by 10 per cent after the enlargement of the European Union by 10 countries. The electricity market within the European Union has been above 2 550 TWh level up to now, after the enlargement it will be almost 2 850 TWh. The Czech market has amounted to ca 54 TWh so far. CEZ, as the largest Czech power company, will make up for 2 per cent of the EU market.