The Czech power utility ČEZ’s net profit dropped by 12.3 percent year-on-year last year to 35.2 billion crowns, the state-run firm said on Thursday. The company’s revenues in 2013 increased by one percent to 217.3 billion. ČEZ’s operating profit before depreciation and amortization, meanwhile, dropped by 4.4 percent to 82.1 billion crowns. The company quoted low wholesale electricity prices, economic stagnation in Europe and an uncertain regulatory outlook as the main reasons behind the drop in its profit. This year, ČEZ expects its net profit to further decrease to around 27.5 billion crowns.
Prague’s central district warns of Airbnb ghost town scenario
Sting: My father and grandfather had to point rifles at Germans – thanks to the EU I’ve never had to
Analyst: Migrant quota row will leave the Czech Republic on the periphery outside the EU core
Major Czech operators end roaming surcharges as EU deadline draws near
EU summit opens with spat between President Macron and Visegrad Group