Selected Historical Financials of CEZ Group
Expected year-on-year change in individual business areas
CZK billions
EBITDA 2022
GENERATION
MINING
DISTRIBUTION
SALES
Intragroup
eliminations
131.6
EBITDA 2023 E
115-120
www.cez.cz/en
ப
G
GENERATION
of which Generating facilities (CZK -7 to 0 bn)
+ Higher realized prices of electricity, including hedging
- Levy on excess revenues in generation (introduced in Czechia from Dec 1, 2022)
- Lower deployment of emission facilities
-22 to -16
- Outage schedule for nuclear power plants
+4 to +6
-1 to 0
+1 to +3
-2 to -1
- Higher fixed operating expenses
of which Trading (CZK -18 to -13 bn)
- Record-high income from commodity trading in 2022
+ / - Uncertain income from trading in 2023 and revaluation of derivatives
MINING
+ Higher revenues from the sale of coal, mainly due to higher realized prices
- Higher fixed operating expenses, mainly on energy
DISTRIBUTION
- Higher fixed operating expenses and negative effect of correction factors
+ Higher allowed revenues
SALES
+ Acquisition-induced and organic increase in energy services
+ Higher margin from the purchase of electricity from RESS
- Higher purchase expenses on electricity and gas for customers
Intragroup eliminations
- Mainly the elimination of impact of the EUR/CZK risk hedging effect of ČEZ ESCO (SALES
segment) through ČEZ, a. s., (GENERATION segment), caused by the significant
strengthening of CZK against EUR. Within ČEZ, a. s., this hedging effect is included in
foreign exchange gains and losses (outside EBITDA).
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