The group’s operating profit (EBITDA), on the other hand, rose by six percent to K95 billion due to the high market prices of commodities. The group has also confirmed the full-year outlook for the economy, which for the whole year 2023 will see an immediate and certain profit of 33 and 37 billion crowns. Celoron’s EBITDA forecast was raised by the company to 115 and 120 billion crowns, the two reported 105 and 115 billion crowns.
The economic results for the first quarter reflect the gradual stabilization of the energy markets. After the approval of the record dividend of CZK 145 per share and taking into account the non-taxable needs and profit of energy companies, we assume that the EZ group will pay the Czech Republic 118 and 125 billion crowns this year in dividends, profit taxes and levies from excessive production needs, stated the general editor of EZ Daniel Ben.
According to the company, several factors had an effect on the economic results and their comparison. Revenues are affected by extreme fluctuations in commodity prices and the resulting levies from excessive production needs, which at the time meant an investment of K8.7 billion for the company. The tax on unbalanced profits then amounted to K21 billion. According to the financial editor of EZ, Martin Novek, these levies would have the company generates around 37 and 45 billion K for the whole year.
During the year, according to EZ statistics, the production of electricity from emitting coal and steam-gas sources gradually decreased, falling by 18 percent year-on-year to 12 terawatt hours (TWh). The main reason is the drop in market prices of electricity and the development of prices for emission allowances and natural gas. According to coal production, this year it is 28 percent, while at the turn of the nineties it was around 80 percent. Meziron’s production of electricity from nuclear sources decreased by one percent due to the long filling stages of both power plants. On the other hand, production from renewable sources increased by seven percent due to the recent climatic conditions.
Electricity consumption at the EZ Distribuce Meziron distribution network fell by a quarter of a percent to 24.8 TWh. Consumption at large enterprises fell by ten percent, by households by five percent, and by small enterprises by six percent. According to the company, the reason for the decrease is the limited consumption of goods due to the high prices of commodities and the warm weather.
EZ is one of the largest energy companies in the Czech Republic. Its majority shareholder is ST, which, through the Ministry of Finance, holds approximately 70 percent of the shares. The group recorded a record profit of 78.4 billion crowns last year. In July this year, the company’s general meeting decided to pay a dividend of 145 crowns per share. Stt received 54 billion crowns from this.