Vladimír Urbánek (Kurzy.cz)
Czech markets  |  March 01, 2013 09:16:02, updated

CEZ: The outlook is conservative and does not only with the agreement with Czech Coal


ČEZ later yesterday afternoon held a conference call with management commentary and complement the official earnings report.

Probably the most important part of the call, the specification that presented outlook (EBITDA CZK 80.0 billion and no profit CZK 37.0 billion) is a conservative and do not include the possible or expected agreement with CEZ Czech Coal. If it occurs, and according to management, negotiations are at an advanced stage, will increase the production of coal-fired power plants and thus should increase and prognosis 2013th According to analysts, the company Brokerjet if agreement could EBITDA increased by up to CZK 2 billion. Positively could also act Albania, which earlier this year will have no impact on EBITDA and could add several hundred single CZK million at net profit.

Management also stated that the settlement with the EC ČEZ modified agreement already contains Dětmarovice power, but only Počerady, Chvaletice and yew with third Melnik The most likely option is yet Chvaletice sales, which are among the least profitable business operations. But it is also selling plants Dětmarovice

Price of electricity sold to other years are 49-50 EUR / MWh in 2014 (54% of production), 46 per 2015 (31%) and 2016 (2013 is 51 USD)

Dividend payout ratio was confirmed to 50-60% of net profit.

According to Peter Bartek with Brokerjet ČEZ us now by offering more interesting than 7% dividend yield income for the years 2012-14.

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ČEZ: Výhled je pouze konzervativní a nepočítá s dohodou s Czech Coal

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