Vladimír Urbánek (Kurzy.cz)
Czech markets  |  November 01, 2012 09:04:32

ČEZ reportedly considering leaving Albania


Board member and head of international operations CEZ Pleskač Thomas said the company is considering leaving Albania. ČEZ stopped all investments in Albania, and can be applied guarantees from the World Bank ($ 60 million). It turns out that the problems in Albania, where he owns a distribution company CEZ is unable to solve. The report was published yesterday during trading session and investors reacted positively (CEZ +0.7% and 713.6 CZK). The reason for this view may be problems and end the deepening losses.

The company has alleged three indicative local candidate. CEZ also said it is in advanced negotiations to purchase additional wind projects in Romania (there plans up to 1.2 GW of wind capacity) and expected from their foreign acquisitions by the end of CZK 1.3 billion dividend (Bloomberg CEZ).

This report builds on other hostile actions of the Albanian government in the third quarter (EUR 31 million of additional taxes and penalties) to 49% increase in the price of electricity supplied Albanian distribution daughters CEZ in the first half. Expression can be taken as a slight "profit warning" for tReti quarter and also as a PR against the Albanian government. Relatively high loss in Albania but we have counted in prediction on 3Q results. Leaving Albania would be in the current situation to profitability next year CEZ positive.

Petr Bartek

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ČEZ údajně uvažuje o odchodu z Albánie

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