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CEZ a. s. swings to loss in Q3

CEZ a. s. said its normalized net income for the third quarter came to a loss of 23 Czech haleru per share, compared with 1.15 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 a loss of 116.3 million koruny, compared with income of 621.1 million koruny in the year-earlier period.

The normalized profit margin dropped to negative 0.3% from 1.4% in the year-earlier period.

Total revenue came to 45.42 billion koruny, compared with 45.69 billion koruny in the year-earlier period, and total operating expenses rose on an annual basis to 43.23 billion koruny from 42.10 billion koruny.

Reported net income totaled a loss of 206.0 million koruny, or a loss of 40 haleru per share, compared with income of 813.0 million koruny, or 1.50 koruny per share, in the year-earlier period.

As of Nov. 7, US$1 was equivalent to 22.10 Czech koruny.