According to Reuters, Severoceske doly reported 466% y/y hike in net income, up to CZK 2.01bn from CZK 355m last year. Although revenues went up, the increase was much smaller to CZK 7.57bn in comparison to CZK 7.36bn (+2.9%). No other figures have been released, so we are not able to analyze the reason of such a hike. Nonetheless, figures will partially positively affect CEZ’s FY2005 consolidated figures, which are due March 30. CEZ acquired Severoceske doly in 2005 and its stake is currently 93%. We see this news as positive, however CEZ's price is currently driven by it's unconsolidated figures released yesterday.