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CEZ a. s. profit misses consensus by 16.0% in Q1

CEZ a. s. said its normalized net income for the first quarter was 11.50 Czech koruny per share, compared with the S&P Capital IQ consensus estimate of 13.70 koruny per share.

EPS declined 18.4% year over year from 14.09 koruny.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.16 billion koruny, a decrease of 18.1% from 7.52 billion koruny in the year-earlier period.

The normalized profit margin fell to 11.8% from 14.6% in the year-earlier period.

Total revenue rose year over year to 52.37 billion koruny from 51.39 billion koruny, and total operating expenses increased 6.2% from the prior-year period to 40.84 billion koruny from 38.45 billion koruny.

Reported net income declined 13.2% on an annual basis to 8.57 billion koruny, or 16.00 koruny per share, from 9.88 billion koruny, or 18.50 koruny per share.

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