Severoceske doly (SD), part of CEZ group has posted 1Q06 figures today. Although net sales increased by 18.92% y/y to CZK 2.36bn from CZK 1.99bn and pre-tax income rose by 68.54% y/y, net income decreased by 11.49% y/y from CZK 861m to CZK 762m. No consensus has been available. Although net income dropped due to tax issues, operating business performed well over first quarter. As CEZ holds 93.1% stake in SD, we see positive impact also on CEZ consolidated figures which will be released on May 19.
In mil. CZK 1Q06 1Q05 y/y change
Net sales 2,360.627 1,985.004 18.92%
Pre-tax income 998.509 592.445 68.54%
Net income 762.485 861.55 -11.50%
EPS (CZK) 83.965 94.873 -11.50%