Selected Historical Financials of CEZ Group
GENERATION segment EBITDA in Q1-Q3 2023
EBITDA (CZK billions)*
Q1-Q3 2022** Q1-Q3 2023 Difference
%
Q3 2022**
Q3 2023
Difference
%
Zero-emission generating facilities of which:
41.2
45.2
+4.0
+10%
12.3
17.6
+5.3 +44%
Nuclear
Renewable
Emission generating facilities
Trading
GENERATION Segment Total
31.8
37.0
+5.2
+16%
9.0
15.0
+6.0 +67%
9.4
8.2
-1.2
-13%
3.3
2.6
-0.7 -21%
11.1
13.7
+2.7
+24%
3.7
1.9
-1.9
-50%
14.7
7.8
-6.9
-47%
5.0
1.7
-3.3 -65%
66.9
66.7
-0.2
-0%
21.0
21.2
+0.2
+1%
Year-on-year effects Q1-Q3 (CZK -0.2 bn):
Nuclear facilities (CZK +5.2 bn):
Price and trade effects (+14.8)
Levy on excess revenues (-8.5)***
Year-on-year effects Q3 (CZK +0.2 bn):
Nuclear facilities (CZK +6.0 bn):
Price and trade effects (+3.8)
■
Π
Operating effects (-1.1): outage schedule for power plants (-0.3), other effects (-0.8), mainly higher fixed
expenses
Renewables (CZK -1.2 bn):
Trade effects (-1.4): ancillary services and regulatory energy (-1.1), price effect (-0.1), levy on excess revenues
(-0.2)
Operating effects (+0.2): hydroelectric plants in Czechia (+0.4), photovoltaic plants in Czechia (-0.2)
Emission facilities (CZK +2.7 bn):
Trade effects in Czechia (+2.1): price effect (+1.3), on-site trading (+0.9), sales of heat (+0.5), ancillary services
(-0.2), other services and deviations (-0.4)
Operating effects in Czechia (-0.4): availability of coal-fired facilities (+0.4), fixed expenses (-0.8)
Poland (+1.0): higher revenues from the sales of electricity and heat
Trading (CZK -6.9 bn):
"
Lower trading prop margin (-11.7): in Q1-Q3 2022 it reached the extraordinary amount of CZK +18.5 bn and in
Q1-Q3 2023 it reached CZK +6.8 bn
Negative impact of interruption of gas supply from Gazprom Export in 2022 (+1.7)
Other trade and consolidation effects (+3.2), mainly temporary effects due to the revaluation of derivative trades
hedging generation and sales positions with supply in the remaining part of the year and with supply in 2024
www.cez.cz
**
Levy on excess revenues (+2.6)***
Operating effects (-0.5): outage schedule for power plants
Renewables (CZK -0.7 bn):
Trade effects (-0.6): price effect including the effect of levy on excess revenues
(-0.2), ancillary services and regulatory energy (-0.3)
Operating effects (-0.1): hydroelectric plants in Czechia (-0.2), photovoltaic plants
in Czechia (+0.1)
Emission facilities (CZK -1.9 bn):
Trade effects in Czechia (-1.8): price effect (-2.1), on-site trading (+0.3), Operating
effects in Czechia (-0.7): availability of coal-fired facilities (-0.1), fixed expenses
(-0.6)
Poland (+0.5) higher revenues from the sales of electricity and heat
Trading (CZK -3.3 bn):
Trading prop margin (-5.2): in Q3 2022 it reached the extraordinary amount of
CZK +6.8 bn and in Q3 2023 it reached CZK +1.6 bn
Negative impact of interruption of gas supply from Gazprom Export in 2022 (+0.6)
Other trade and consolidation effects (+1.4)
The breakdown of EBITDA of the GENERATION segment into four sub-segments is only indicative on the basis of central allocation assumptions (in particular the allocation of ČEZ's gross margin and fixed
expenses of the central divisions of ČEZ) and simplified consolidation with other companies.
The historical allocation of EBITDA between the sub-segments is always reported in accordance with the current methodology for allocation of EBITDA between the subsegments for comparability.
*** In Q3, the statutory cap was higher than the average generated revenues of ČEZ, hence the positive impact on P/L as a result of lower accounting expenses in 2023.
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