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    CEZ   CZ0005112300

CEZ, A. S.

(CEZ)
  Report
End-of-day quote Prague Stock Exchange  -  2022-12-01
776.00 CZK   -2.27%
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CEZ a s : Czech government, CEZ to sign memorandum on EV battery plant

07/26/2021 | 11:49am EST

PRAGUE, July 26 (Reuters) - The Czech government took a step closer on Monday to backing a new $2 billion-plus electric vehicle (EV) battery plant that is expected to create more than 2,000 jobs.

The government approved the text of a memorandum supporting the new plant that will be signed with majority state-owned utility CEZ, Industry Minister Karel Havlicek said.

CTK news agency earlier said the memorandum should be signed on Tuesday. Citing a government document, it said investment in the initial phase of the plant, or so-called gigafactory, would total at least 52 billion crowns ($2.4 billion).

Havlicek said on Twitter a plant could create 2,300 new jobs.

CEZ did not have an immediate comment.

CTK said that, according to the document, CEZ was prepared to become an investor in the project, as well as an energy and lithium supplier.

The state is also looking to sign up other investors in the plant as the European and global automobile industry shifts towards an electric future.

Havlicek told Reuters this month the state was holding talks with two potential partners, including Volkswagen, which owns Czech carmaker Skoda Auto.

($1 = 21.7080 Czech crowns) (Reporting by Jason Hovet Editing by Kirsten Donovan and Mark Potter)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CEZ, A. S. -2.27% 776 End-of-day quote.-6.17%
VOLKSWAGEN AG 1.31% 140.84 Delayed Quote.-21.67%
All news about CEZ, A. S.
11/30Three companies vie to build new Czech nuclear plant
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More news
Financials
Sales 2022 290 B 12 514 M 12 514 M
Net income 2022 65 984 M 2 851 M 2 851 M
Net Debt 2022 96 764 M 4 181 M 4 181 M
P/E ratio 2022 6,38x
Yield 2022 10,2%
Capitalization 417 B 17 996 M 17 996 M
EV / Sales 2022 1,77x
EV / Sales 2023 1,50x
Nbr of Employees 27 500
Free-Float 30,0%
Chart CEZ, A. S.
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CEZ, a. s. Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Last Close Price 776,00 CZK
Average target price 1 043,73 CZK
Spread / Average Target 34,5%
EPS Revisions
Managers and Directors
Daniel BeneÜ Chief Administration Officer
Martin Novßk Chief Financial & Operating Officer
Otakar Hora Chairman-Supervisory Board
Michaela Chaloupkovß Chief Purchasing Officer
VladimÝr Hronek Member-Supervisory Board
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