CEZ a s : Financial results in H1 2022

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

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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

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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

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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)

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