CEZ has record profits, hands me. It will come back to the people, the ministry promises

CEZ Group, whose majority shareholder is the state, earned almost 27 billion crowns in the first quarter of this year. According to analysts, the state could use the high profits of the energy company to help people.

CEZ’s net profit increased by 218 percent year on year to 26.7 billion crowns, significantly exceeding analysts’ expectations. Among other things, the company was helped by the enormous rise in energy prices on wholesale markets and a record profit from trading in them. The Czechia is one of the largest exporters of electricity in Europe.

However, not all areas of CEZ had a successful year. “Two parts of CEZ did differently. The production part that trades on the wholesale market did well. On the contrary, the business part did not do well and it ended up in a loss,” said CEZ spokesman Ladislav Kriz.

“CEZ is making a fabulous profit on what the citizen is losing. Because the prices of electricity in the world are rising to historical highs, if CEZ produces it, it has a big margin and big profits. That’s why it has such a dramatic increase in net profit,” he explained. economist Lukáš Kovanda.

The majority shareholder of the ČEZ Group is the state, which holds about 70 percent of the shares through the Ministry of Finance. “The current results indicate that the next dividend could be historically the highest and the state could reach the maximum value of more than 27 billion crowns,” Kříž said.

“Of course, the state is satisfied that its company is doing well. But we are also monitoring the impact on citizens. The advantage is that thanks to the dividend that CEZ will pay, the state can finance such measures as 5,000 crowns for families or increased pensions,” he said. Deputy Minister of Finance Roman Binder (ODS).

Some recommend that ČEZ withdraw from trading on the German stock exchange. This would allegedly reduce the current high electricity prices. According to CEZ, this is not possible due to agreements with the EU. “The main benefit for ČEZ and thus for the state and the citizens is that it is possible to sell frequent surpluses across Europe through the stock exchange. We would not be able to sell them without the stock exchange and the electricity produced in this way would probably end up useless,” thinks analyst Radim Dohnal.

jal, TN.cz