CEZ Group Energy Transformation and Financial Results
NET DEBT DECREASED BY CZK 29 BN IN Q1
Net debt
as of December
31, 2021
Other
EBITDA
Interest,
Acquisition of
income tax operating effects fixed assets
Divestments/
acquisitions
Other
Net debt as of
March 31, 2022
110.7
+43.7
-1.0
Decrease in net debt by CZK 29.0 bn
-9.2
81.8
-6.6
-0.1
+2.2
ப
1.8
Net debt / Annual EBITDA
Interest, income taxes (CZK -1.0 bn): income taxes paid
0.9
Other operating effects (CZK -9.2 bn): change in trade receivables and payables (CZK -14.3 bn), inventories of materials and fossil fuels
(CZK -1.0 bn), change in emission allowances (CZK +2.7 bn), other (CZK +3.4 bn)
Acquisition of fixed assets (CZK -6.6 bn): acquisition of fixed assets (CAPEX) (CZK -4.7 bn), change in liabilities from fixed asset acquisition
(CZK -1.9 bn)
Divestments/acquisitions (CZK -0.1 bn): acquisition of ELIMER, a.s.
Other (CZK +2.2 bn): mainly change in the fair value of loans and bonds due to the appreciation of the EUR/CZK exchange rate
CEZ Group takes all measures to manage liquidity risks associated with extreme increases in commodity market
prices and related margining on commodity exchanges and to trading counterparties
• ČEZ is required to replenish cash on margin deposits on exchanges and with counterparties due to futures contracts related to generation and
significant increases in commodity prices.
• As of March 31, ČEZ had cash on margin deposits, and therefore a receivable, in the amount of CZK 57 bn.
ČEZ is negotiating at European and national level on measures and instruments to address the risks of a surge in additional cash needs.
• Cash, highly liquid assets and available credit lines of ČEZ amounted to CZK 82 bn as of March 31, 2022.
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