Press releases pg. 78

The Supervisory Board today elected two members to the Board of Directors – Tomáš Pleskač and Ivo Hlaváč.

After nearly two years of extensively upgrading the Resita water power plant system on the Barzava Superioara river, the project has come to a successful end. Due to the investment of EUR 30 million, the four hydropower plants now generate electricity with 20% higher efficiency, thus producing one fifth more electricity from the same amount of water.

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.