CEZ CEO Jaroslav Mil said in a BridgeNews interview last night that:
CEZ’s 2000 net income (IAS) will be “significantly better” than the CZK 5.1 bil. in 1999 (Patria forecasts CZK 6.6 bil.).
CEZ’s board of directors will propose at the June AGM that a dividend is to be paid out of 2000 profits (without giving further details).
CEZ wants to regain its domestic market share (from just above 60% to at least 70%) in 2001. CEZ wants to cut its workforce from 9,100 employees to 7,800 at the end of 2001.
He expects CEZ’s stock price to trade in a CZK 150-200 per share range by the end of the year.
Generally, these are very bullish statements and, in combination with the launch of CEZ & distributors’ privatization today, may help the stock.