Q3 2025 CEZ as Earnings Call Transcript

Nov 11, 2025 / 03:00 PM GMT

Transcript

Key Points

Positve

CEZ AS (CZAVF) reported a 3% increase in EBITDA compared to the same period last year.
The acquisition of Gasnet, a Czech gas distribution company, contributed significantly to the company's financial performance, adding 7.4 billion Czech crowns to EBITDA.
The distribution segment saw a 75% increase, largely due to the consolidation of gas assets.
CEZ AS (CZAVF) achieved a high level of nuclear generation, close to 32 terawatt hours, due to extended fuel cycles.
The company has a strategic focus on expanding its distribution assets and renewable energy projects to offset declining coal generation.

Negative

Net income decreased by 7% to 21.5 billion Czech crowns.
Net operating cash flow dropped by 40%, attributed to strong cash flow in the previous year.
There was a significant decline in power prices, impacting the generation segment negatively.
Trading activities saw a downturn, with proprietary trading margins down by 2.6 billion Czech crowns.
The coal generation segment experienced a 61% decline in EBITDA due to narrowing margins and lower power prices.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CEZP.PR - CEZ as
Q3 2025 CEZ as Earnings Call
Nov 11, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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9 months of 2025. It's my pleasure to welcome Martin Novak, Chief Financial Officer, and Rudi Horn, the head of trading, who will be, going through the presentation and be available for the questions. I'm now handing over to Martin to start, the presentation.

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Unidentified_2 [2]
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Thank you. Good afternoon, good morning. So I'll quickly go through our, presentation, and then we can jump to Q&A session.

So if you look at the slide 3, our total financial results, our EIDD is about 3% higher than in the same period of last year. We achieved che103.2 billionck crowns. Our

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