Press releases pg. 156
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.