CEZ Group Energy Transformation and Financial Results
WE INCREASE THE FINANCIAL OUTLOOK FOR 2022:
EBITDA OF CZK 95-99 BN, ADJUSTED NET INCOME OF CZK 45-49 BN
EBITDA
(CZK bn)
95-99
85-89
2022 E (March 15)
2022 E (May 10)
Adjusted net income
(CZK bn)
38-42
45-49
2022 E (March 15)
2022 E (May 10)
Main reasons for adjusting the financial outlook
as compared to the outlook from Mar 15, 2022:
++ Significantly higher realization prices of electricity
+ Higher profit from commodity trading
Selected Prediction Risks and Opportunities:
Realization prices of generated electricity
Availability of generating facilities
The cost of acquiring emission allowances and natural gas for
generation
Gain from commodity trading and revaluation of derivatives
The impact of economic sanctions against Russia imposed in
connection with the conflict in Ukraine
Dividend from 2022 earnings:
Current dividend policy (60-80% of net income adjusted for extraordinary
effects) implies dividend at CZK 67-73 per share in the case of setting
a dividend at the upper limit of a defined interval.
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