ČEZ reports 10% increase in first-half net profit

The Czech energy group ČEZ reported a 10% year-on-year increase in net profit for the first half of the year, reaching 18.1 billion CZK. This growth was primarily driven by the cessation of the windfall tax.

Despite the rise in net profit, the company saw a decrease in operating revenues and EBITDA, which fell to 59 billion CZK due to lower realized electricity prices. However, the company raised its full-year 2026 outlook, now expecting an adjusted net profit between 31 and 35 billion CZK and EBITDA between 109 and 114 billion CZK.

CEO Daniel Beneš attributed the improved outlook to stable production, shorter nuclear plant outages, and better performance in the distribution segment. Additionally, market price increases resulting from the crisis in the Persian Gulf have supported energy commodity prices. The company also reported a 30% increase in investments, totaling 30.2 billion CZK, focused on emission-free sources and grid modernization.