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ČEZ corporate performance and transformation

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2026-08-11 23:41 UTC → 2026-08-18 13:02 UTC · added ~~removed~~

The Czech energy group ČEZ reported a 10% year-on-year increase in net profit for the first half of 2026, reaching 18.1 billion CZK. This growth was largely attributed to the cessation of the windfall tax, though operating revenues and EBITDA decreased due to lower realized electricity prices. CEO Daniel Beneš raised the full-year outlook, expecting an adjusted net profit between 31 and 35 billion CZK, citing stable production, shorter nuclear plant outages, and market price increases linked to the crisis in the Persian Gulf. The company also reported a 30% increase in investments, totaling 30.2 billion CZK, focused on grid modernization and emission-free sources. Parallel to these financial developments, ČEZ is undergoing a major corporate transformation. The government of Andrej Babiš is planning to split the group into two distinct parts, a move described as one of the largest privatizations of state assets since the 1990s. Under this plan, the state would retain the high-risk, loss-making production side, including nuclear construction and the coal transition. In contrast, the profitable distribution and customer-facing segments could be sold to private investors. The sale of up to 49% of the new ČEZ Energy entity is estimated to generate between 190 and 270 billion CZK. Critics argue this structure shifts systemic risks to taxpayers while allowing private entities to capture profits. The transaction may require the state to reach 90% ownership to squeeze out minority shareholders, including investor Pavel Tykač, who holds between 3% and 10% of ČEZ shares. To support long-term production, ČEZ has announced plans to extend the operational lifespan of its Dukovany and Temelín nuclear power plants to 80 years. This strategy involves annual investments of between 10 and 12 billion CZK for modernization, digitalization, and safety.

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