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Czech markets  |  August 10, 2012 09:23:58

CEZ in the second quarter of 2012 swept estimates from the table and confirmed full-year outlook

CEZ announced in 2Q2012 net profit of 12.758 billion CZK, which is up by almost 90% higher and well above market estimates and Erste Group. EBITDA was higher by 28% (22.134 billion CZK), annual sales jumped by 11.7% to CZK 52.2 billion. Numbers assessed as very strong due to the fact that at the EBITDA level indicated no significant non-recurring items, net profit at will.

In addition, the firm won billion in debt repayments from the Romanian State Railways. Activities in Albania meant the contrary, the loss of CZK 700 million.

The company, however, "only" confirmed full-year outlook for EBITDA of CZK 87.9 billion CZK 41 billion net profit in both cases, the percentage more than in 2011.

Other specific factors that helped profit growth in the second quarter of 2012, the company mentioned example CZK 0.8 billion due to lower prices for emission allowances and higher profit from operations in Turkey (0.4 billion CZK).

CEZ said stated that the continued implementation of five strategic initiatives. The priority is to build two new nuclear power plant units."Winner of the tender, we would like to choose to September next year and the end of 2013 to sign a contract with him," said Daniel Benes, Chairman and CEO of CEZ.

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    ČEZ ve druhém kvartálu 2012 smetl odhady ze stolu a potvrdil celoroční výhled

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