CEZ enjoyed a net profit of CZK10,371 billion in the first quarter of the year, which was a year-on-year increase of 39%.
The growth was mainly influenced by an increase in trade margin, higher sales, a significant improvement in the economic performance of the Bulgarian distribution companies in the CEZ group and enlargement of the group by the Romanian distribution company Electrica Oltenia. While revenues rose, the company managed to keep its costs under control and they grew at a lower pace
The economic results prove a very good company condition, especially in the field of operating performance. More and more do the results reflect our foreign acquisitions that have already been realized. The operating profit of Bulgarian distribution companies almost doubled compared to the previous year.
We have also managed to acquire first production resources in addition to the Bulgarian and Romanian distribution companies. Due to the purchase of the Polish power plants Elcho and Skawina and newly the Bulgarian Varna, our production capacity rose by full 17%. That is a good ground for us to continue to bring good news to our shareholders, says Martin Roman, chairman of the board of directors and CEO of CEZ.
The electricity production in CEZ Group power plants reached 16,763 GWh in the first quarter of this year and was 4% up on the previous year. It was the highest-ever production of CEZ in the first quarter.