Reuters reports that CEZ’s IAS consolidated results will be released at the end of March (they were originally scheduled for release yesterday); some comments could be provided at the press conference CEZ has scheduled for Monday. CEZ’s CAS unconsolidated net income, released yesterday after trading, was a disappointing CZK 6.33 bil.; our forecast was CZK 7.5 bil., which suggests that our forecast of an IAS net of CZK 10.4 bil. is also optimistic.
Czech Press Agency reports that the ministries of industry and finance have submitted an energy-sector restructuring plan to the Cabinet (i.e., CEZ selling 66% of its stake in CEPS and buying the state’s stakes in regional distributors); the proposal could be discussed as early as the next regular Cabinet meeting, on March 6. We expect it to be approved.
(Jiri Soustruznik)