Czech energy giant CEZ has announced a net profit of 16.5 billion Czech koruna ($779 million) for the first half of the year. While this represents a decline from the 21.1 billion koruna achieved during the same period last year, the results came in ahead of market expectations.
Off the back of this performance, CEZ has raised its full-year net profit forecast, now anticipating between 26–30 billion koruna, compared to the earlier projection of 25–29 billion koruna, according to Chief Executive Daniel Benes.
The Czech state holds nearly a 70% stake in CEZ, which posted a 30.5 billion koruna profit in 2024.
In a major strategic move earlier this year, CEZ, together with the Czech government, signed an $18 billion agreementwith South Korea’s state-owned power utility KHNP to construct two new nuclear reactors. These will be located at CEZ’s existing Dukovany power plant, a key step in the nation’s efforts to reduce reliance on fossil fuels and transition to cleaner energy sources.
Partner With Us
Want to feature your brand, business, or service on 365247 — Whether you’re looking to sponsor, collaborate, or build presence within our ecosystem, we’d love to explore it with you.
Submit your Interest Here
IMAGE: Reuters
