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CEZ a. s. Q2 profit falls YOY

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CEZ a. s. Q2 profit falls YOY

CEZ a. s. said its normalized net income for the second quarter came to 11.34 Czech koruny per share, a decrease of 13.6% from 13.13 koruny per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.06 billion koruny, a decrease of 13.6% from 7.01 billion koruny in the prior-year period.

The normalized profit margin declined to 12.4% from 14.8% in the year-earlier period.

Total revenue climbed 5.5% on an annual basis to 49.87 billion koruny from 47.26 billion koruny, and total operating expenses grew 14.3% on an annual basis to 40.51 billion koruny from 35.45 billion koruny.

Reported net income increased 6.6% year over year to 7.85 billion koruny, or 14.70 koruny per share, from 7.37 billion koruny, or 13.78 koruny per share.

As of Aug. 11, US$1 was equivalent to 24.46 Czech koruny.