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CEZ a. s. Q2 profit climbs 50.9% YOY

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CEZ a. s. Q2 profit climbs 50.9% YOY

CEZ a. s. said its second-quarter normalized net income amounted to 10.13 Czech koruny per share, a gain of 51.5% from 6.69 koruny per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.41 billion koruny, a gain of 50.9% from 3.59 billion koruny in the year-earlier period.

The normalized profit margin increased to 11.7% from 7.7% in the year-earlier period.

Total revenue totaled 46.37 billion koruny, compared with 46.78 billion koruny in the prior-year period, and total operating expenses totaled 40.51 billion koruny, compared with 40.78 billion koruny in the prior-year period.

Reported net income increased 106.4% on an annual basis to 7.75 billion koruny, or 14.50 koruny per share, from 3.75 billion koruny, or 7.00 koruny per share.

As of Aug. 8, US$1 was equivalent to 22.28 Czech koruny.