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    CEZ   CZ0005112300

CEZ, A. S.

(CEZ)
  Report
Real-time Estimate Cboe Europe  -  10:10 2022-09-27 am EDT
901.75 CZK   -2.30%
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CEZ a s : Financial results in H1 2022

08/09/2022 | 01:06am EDT

ČEZ, a. s.

SEPARATE FINANCIAL STATEMENTS

PREPARED IN ACCORDANCE WITH

INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF JUNE 30, 2022

ČEZ, a. s.

BALANCE SHEET

AS OF JUNE 30, 2022

In CZK Millions

June 30,

December 31,

2022

2021

ASSETS:

Plant in service

489,791

489,211

Less accumulated depreciation and impairment

(283,006)

(275,015)

Net plant in service

206,785

214,196

Nuclear fuel, at amortized cost

12,298

13,021

Construction work in progress, net

12,175

11,478

Total property, plant and equipment

231,258

238,695

Restricted financial assets, net

14,878

15,040

Other non-current financial assets, net

151,679

147,580

Intangible assets, net

961

1,047

Investment properties, net

395

406

Deferred tax assets

15,974

6,843

Total other non-current assets

183,887

170,916

Total non-current assets

415,145

409,611

Cash and cash equivalents, net

41,337

20,804

Trade receivables, net

119,018

136,039

Materials and supplies, net

17,387

10,415

Fossil fuel stocks

230

200

Emission rights

9,119

14,192

Other current financial assets, net

787,317

515,488

Other current assets, net

7,142

4,141

Total current assets

981,550

701,279

Total assets

1,396,695

1,110,890

2

ČEZ, a. s.

BALANCE SHEET

AS OF JUNE 30, 2022

continued

June 30,

December 31,

2022

2021

EQUITY AND LIABILITIES:

Stated capital

53,799

53,799

Treasury shares

(1,354)

(1,423)

Retained earnings and other reserves

7,001

64,052

Total equity

59,446

116,428

Long-term debt, net of current portion

108,418

89,189

Provisions

97,840

97,707

Other long-term financial liabilities

73,440

34,173

Total non-current liabilities

279,698

221,069

Short-term loans

1,601

25,115

Current portion of long-term debt

13,046

14,999

Trade payables

54,505

76,950

Income tax payable

1,679

1,696

Provisions

13,191

11,095

Other short-term financial liabilities

971,115

641,849

Other short-term liabilities

2,414

1,689

Total current liabilities

1,057,551

773,393

Total equity and liabilities

1,396,695

1,110,890

3

ČEZ, a. s.

STATEMENT OF INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2022

In CZK Millions

1-6/2022

1-6/2021

4-6/2022

4-6/2021

Sales of electricity, heat and gas

80,771

44,301

30,406

19,550

Sales of services and other revenues

5,756

2,653

3,056

1,364

Other operating income

4,801

594

387

239

Total revenues and other operating income

91,328

47,548

33,849

21,153

Gains and losses from commodity

derivative trading

15,840

(2,227)

2,802

(1,124)

Purchase of electricity, gas and other

energies

(35,979)

(15,643)

(14,836)

(6,963)

Fuel and emission rights

(17,790)

(9,373)

(8,300)

(4,060)

Services

(4,141)

(3,931)

(2,357)

(2,357)

Salaries and wages

(4,133)

(3,652)

(2,228)

(1,923)

Materials and supplies

(1,121)

(1,054)

(631)

(602)

Capitalization of expenses to the cost of

assets and change in own inventories

77

62

39

31

Depreciation and amortization

(8,522)

(6,886)

(4,265)

(3,685)

Impairment of property, plant and equipment

and intangible assets

(2)

(25)

(2)

-

Impairment of trade and other receivables

(14)

13

(12)

21

Other operating expenses

(833)

(718)

(454)

(393)

Income before other income (expenses) and

income taxes

34,710

4,114

3,605

98

Interest on debt, net of capitalized interest

(2,345)

(2,145)

(1,247)

(1,049)

Interest on provisions

(1,112)

(884)

(556)

(442)

Interest income

1,496

711

950

362

Impairment of financial assets

45

(4,502)

50

(4,508)

Other financial expenses

(1,718)

(284)

657

(278)

Other financial income

8,360

9,098

7,932

8,372

Total other income (expenses)

4,726

1,994

7,786

2,457

Income before income taxes

39,436

6,108

11,391

2,555

Income taxes

(6,034)

(605)

(701)

69

Net income

33,402

5,503

10,690

2,624

4

ČEZ, a. s.

STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2022

In CZK Millions

1-6/2022

1-6/2021

4-6/2022

4-6/2021

Net income

33,402

5,503

10,690

2,624

Change in fair value of cash flow hedges

(109,902)

(16,195)

(68,189)

(10,488)

Cash flow hedges reclassified to statement

of income

31,260

789

16,591

1,307

Change in fair value of debt financial

instruments

(1,172)

(659)

(636)

45

Deferred tax related to other comprehensive

15,165

3,052

9,925

1,736

income

Net other comprehensive income that may

be reclassified to statement of income or

(64,649)

(13,013)

(42,309)

(7,400)

to assets in subsequent periods

Total comprehensive income, net of tax

(31,247)

(7,510)

(31,619)

(4,776)

5

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Disclaimer

CEZ a.s. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 05:05:03 UTC.


© Publicnow 2022
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Financials
Sales 2022 303 B 11 781 M 11 781 M
Net income 2022 53 135 M 2 067 M 2 067 M
Net Debt 2022 106 B 4 116 M 4 116 M
P/E ratio 2022 8,71x
Yield 2022 7,48%
Capitalization 483 B 18 784 M 18 784 M
EV / Sales 2022 1,94x
EV / Sales 2023 1,61x
Nbr of Employees 28 000
Free-Float 28,8%
Chart CEZ, A. S.
Duration : Period :
CEZ, a. s. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 899,50 CZK
Average target price 1 194,13 CZK
Spread / Average Target 32,8%
EPS Revisions
Managers and Directors
Daniel Beneš Chief Administration Officer
Martin Novák Chief Financial & Operating Officer
Otakar Hora Chairman-Supervisory Board
Michaela Chaloupková Chief Purchasing Officer
Vladimír Hronek Member-Supervisory Board
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