PRE Group’s profit before interest, taxes and depreciation (EBITDA) rose to CZK 6.87 billion last year, which was 18 percent more than in 2022.
“It may be interesting that the profit before taxation increased by one billion year-on-year to 5.1 billion crowns. However, PRE was affected by the government’s decision to tax the extraordinary profits of companies operating in the energy sector. In income tax, instead of one billion, which would correspond to a 19 percent tax rate, the PRE group paid almost two billion crowns,” the Ekonomický deník reported.
Weather developments, high energy supply prices and cost-saving measures also led to a year-on-year decrease in the volume of deliveries. PRE’s electricity supply volume decreased year-on-year by 4.2 percent to 6.12 terawatt hours (TWh) and gas supply volume by 14 percent to 0.85 TWh. The volume of distributed electricity in Prague decreased by 2.4 percent to 5.86 TWh.
The core activities of the PRE Group include sales and trading of electricity and gas. With more than 838,000 consumption points, it is the third largest supplier of electricity in the Czech Republic. Over 58 percent of the company is owned by Pražská energetika Holding, whose majority owner is the city of Prague. Another important shareholder is the German EnBW Energie Baden-Württemberg, which owns 41.4 percent.
CEZ’s profit fell by 63 percent
Economy
