Press releases pg. 101

The general meeting of shareholders of power engineering company ČEZ elected new members of the Supervisory Board Vlastimil Jiřík and Miloš Kebrdle yesterday. The general meeting also withdrew Tomáš Hűner and Josef Janeček from the Supervisory Board.

The CEZ Energy Group achieved a net profit in the amount of 17.2 billion CZK in the first quarter of this year after adjustment for methodical and temporary effects. It is an interim increase by 9 % per cent. Including these effects the net profit for the mentioned period was 19.4 billion CZK. In particular, sale of electric power contributed to the increase of the net profit. For example distributed reserves for emission permits or revaluation of MOL shares belong among the mentioned temporary effects (from which some will be compensated by the end of the year). Despite the overall drop of electric power consumption due to the continuing economic crisis, there still is an interim improvement of income. These factors, however, will be affected with the annual income. We expect the annual net profit on the level of 50.2 billion CZK.

The management of ČEZ has approved the business plan concerning the new 800 MW steam-gas power plant in Mělník. The intent of this project is to build a power plant which will be also ready to replace the output of the coal-fired sources situated in this location and approaching the end of their useful life in the near future. The current units will be gradually shut down in the period after 2015.

The international acquisitions of the ČEZ Group have created accumulated net profit amounting almost to 10 billions CZK since the time of their procuration. The EBITDA index has achieved more than 23 billions CZK in the same period.