CEZ: an audit confirms the big growth of profit
Article Abstract:
CEZ (Prague, Czech Republic), power company, saw a net profit of CEK 5.745 bil in 2000 compared to CEK 2.160 bil in 1999. The firm was to see a profit of CEK 5.846 bil in 2000, according to a preliminary estimate. The growth of the 2000 profit was influenced by the improvement of the exchange rate of the Czech crown, a decrease in debts in foreign currencies and the change of the structure of debts. The firm's proceeds for the sales of its products and services decreased to CEK 53.182 bil in 2000 compared to CEK 53.959 bil in 1999. Its proceeds for electric power totalled CEK 50.996 bil in 2000 compared to CEK 50.298 bil in 1999. The drop of the 2000 total proceeds was influenced by a decrease in proceeds for electric power and the inclusion of operating costs on the stoppage of the modernization of the power station Tusimice 1 in 1999. CEZ is waiting for the choice of its strategical partner and its privatization.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CEZ increased its profit for 1Q 2001 compared to 1Q 2000
Article Abstract:
CEZ (Prague, Czech Republic), power firm, has decreased the estimate of its 2001 net profit to CEK 5.4 bil. In Feb 2001 the firm was to see a net profit of CEK 6.4 bil in 2001. Reasons for the drop of the estimate of the profit are consumption contracts for 2001 with Severomoravska energetika (Czech Republic), Prazska energetika (Czech Republic) and Zapadoceska energetika (Czech Republic), which have not been arranged so far. The firms have also decreased their electric power purchase from CEZ. CEZ supplies electric power to eight monopoly distributors. The distributors bought electric power worth CEK 10.55 bil from CEZ for 1Q 2001, 2.8% less compared to 1Q 2000. CEZ saw a net profit of CEK 3.29 bil for 1Q 2001 compared to CEK 2.94 bil for 1Q 2000. CEZ expects revenues of CEK 58-59 bil in 2001. Its revenues amounted to CEK 17.73 bil for 1Q 2001, 1.8% more compared to 1Q 2000.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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CEZ reports a considerable increase in its profit
Article Abstract:
CEZ (Prague, Czech Republic), power firm, saw a profit of CEK 7.237 bil in 2000, according to international accounting standards. The sum is 68.7% higher compared to 1999. CEZ's total proceeds amounted to CEK 52.7 bil in 2000, CEK 0.9 bil more compared to 1999. The results are preliminary consolidated data, which have not been audited.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
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