CEZ released its 9M 2001 IAS consolidated figures today morning. At the operating level, results stood slightly below market expectations, however, bottom line strongly surpassed market consensus.
Net profit of CZK 8.94 bil. much exceeded market consensus of CZK 7.82 bil. as well as Patria’s forecast of CZK 7.98 bil. (net profit in 1-9/2000 stood at CZK 5.6 bil.). Operating profit (EBIT) reached CZK 11.59 bil., thus slightly below expectations (consensus CZK 11.17 bil., Patria’s forecast CZK 12.06 bil.). Similarly, CEZ’s sales of CZK 41.52 bil. stood marginally below market expectations (CZK 41.84 bil.). Neutral-to-positive news.
(Jan Hajek)