CEZ’ net profit dropped by 10 % – Region, 9 August 2016

Net profit of the Czech energy company CEZ in the first half of 2016 dropped by 10 % compared to the same period last year, amounting to about 511 million euros.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) reached 1.22 billion euros in the first six months, which is some 90 million euros less than in the same period in 2015. Total sales amounted to 3.66 billion euros, which is 5 % less compared to the first half of 2015. According to the statement from the company, the decline is a result of the lower prices of produced electricity, as well as assets writedown in Romania.

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