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Czech utility CEZ sees net income climb in H1'19

CEZ a. s. on Aug. 13 reported net income attributable to equity holders of the parent of 11.13 billion Czech koruny, or 20.8 koruny per share, in the first half of 2019, compared with 7.51 billion koruny, or 14 koruny per share, in the previous year.

EBITDA was 32.09 billion koruny, an increase from 26.89 billion koruny in the comparable 2018 period. Revenue and other operating income totaled 100.03 billion koruny, up from 86.25 billion a year ago.

Electricity generation by traditional facilities increased by 4% year on year to 30.8 TWh, the Czech utility said. Generation from the company's new energy facilities also improved 19% year on year to 1.2 TWh.

"Our financial performance in the first half of the year was in line with our ambitious estimates, especially thanks to additional revenue from commodity trading," CEZ Chairman and CEO Daniel Beneš said.

Looking ahead, the utility continues to target full-year 2019 EBITDA in the range of 57 billion koruny to 59 billion koruny and net income in the range of 17 billion koruny to 19 billion koruny.

As of Aug. 12, US$1 was equivalent to 23.02 Czech koruny.