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ČEZ posts EBITDA of CZK 72.5bn

ČEZ Group reported earnings before interests, taxes, depreciation and amortisation (EBITDA) totalling CZK 72.5bn for 2014. Net profit adjusted for extraordinary factors totalled CZK 29.5bn. The group’s market capitalisation increased by CZK 35.3bn to CZK 315.7bn. The better than anticipated results benefited primarily from the settlement agreement with the Albanian government and the new savings programme. On the other hand, lower realised electricity prices, warm and dry winter and lower production from coal sources had a negative effect on ČEZ’s revenues. ČEZ’s board of directors chairman and CEO Daniel Beneš has stated that EBITDA in 2015 is estimated at CZK 70bn, i.e. CZK 5bn above the market estimations.

Source: www.cianews.cz