By Helgi Analytics - August 26, 2020
CEZ made a net profit of CZK 632 mil in 2Q2020, down 82.1% compared to the previous year. Total sales reached CZK 48,189 mil, wh...
By Helgi Analytics - August 26, 2020
CEZ made a net profit of CZK 632 mil in 2Q2020, down 82.1% compared to the previous year. Historically, between 1Q1993 and 2...
By Helgi Analytics - August 26, 2020
CEZ made a net profit of CZK 632 mil with revenues of CZK 48,189 mil in 2Q2020, down by 82.1% and up by 2.50%, respectively,...
Profit Statement | 2017 | 2018 | 2019 | |
Sales | CZK mil | 199,000 | 181,318 | 201,781 |
Gross Profit | CZK mil | 99,425 | 81,742 | 102,204 |
EBITDA | CZK mil | 58,880 | 51,925 | 59,541 |
EBIT | CZK mil | 25,620 | 19,759 | 26,429 |
Financing Cost | CZK mil | 5,379 | 6,977 | 7,366 |
Pre-Tax Profit | CZK mil | 22,753 | 13,517 | 18,411 |
Net Profit | CZK mil | 18,765 | 10,327 | 14,373 |
Dividends | CZK mil | 17,635 | 13,372 | 12,851 |
Balance Sheet | 2017 | 2018 | 2019 | |
Total Assets | CZK mil | 623,906 | 707,443 | 704,574 |
Non-Current Assets | CZK mil | 487,953 | 480,447 | 501,936 |
Current Assets | CZK mil | 135,953 | 226,996 | 202,638 |
Working Capital | CZK mil | 11,818 | 18,944 | 9,439 |
Shareholders' Equity | CZK mil | 254,322 | 239,281 | 255,364 |
Liabilities | CZK mil | 369,584 | 468,162 | 449,210 |
Total Debt | CZK mil | 154,307 | 160,966 | 171,893 |
Net Debt | CZK mil | 138,331 | 60,511 | 102,088 |
Ratios | 2017 | 2018 | 2019 | |
ROE | % | 7.28 | 4.18 | 5.81 |
ROCE | % | 3.71 | 2.07 | 2.84 |
Gross Margin | % | 50.0 | 45.1 | 50.7 |
EBITDA Margin | % | 29.6 | 28.6 | 29.5 |
EBIT Margin | % | 12.9 | 10.9 | 13.1 |
Net Margin | % | 9.43 | 5.70 | 7.12 |
Net Debt/EBITDA | 2.35 | 1.17 | 1.71 | |
Net Debt/Equity | % | 54.4 | 25.3 | 40.0 |
Cost of Financing | % | 3.34 | 4.43 | 4.43 |
Valuation | 2017 | 2018 | 2019 | |
Market Capitalisation | USD mil | 12,490 | 12,734 | 12,048 |
Enterprise Value (EV) | USD mil | 18,987 | 15,428 | 16,561 |
Number Of Shares | mil | 534 | 535 | 535 |
Share Price | CZK | 497 | 477 | 475 |
EV/EBITDA | 7.57 | 6.50 | 6.27 | |
EV/Sales | 2.24 | 1.86 | 1.85 | |
Price/Earnings (P/E) | 14.1 | 24.7 | 17.7 | |
Price/Book Value (P/BV) | 1.04 | 1.07 | 0.996 | |
Dividend Yield | % | 6.65 | 6.92 | 5.05 |
Get all company financials in excel:
overview | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
income statement | ||||||||||||||||||||||||||||
Sales | CZK mil | 216,988 | 195,445 | 206,134 | 201,641 | 199,000 | ||||||||||||||||||||||
Gross Profit | CZK mil | 124,150 | 106,754 | 102,176 | 100,197 | 99,425 | ||||||||||||||||||||||
EBIT | CZK mil | 45,690 | 34,085 | 28,961 | 26,114 | 25,620 | ||||||||||||||||||||||
Net Profit | CZK mil | 35,886 | 22,403 | 20,739 | 14,281 | 18,765 | ||||||||||||||||||||||
ROE | % | ... | 13.9 | 8.48 | 7.71 | 5.35 | 7.28 | |||||||||||||||||||||
EBIT Margin | % | 21.1 | 17.4 | 14.0 | 13.0 | 12.9 | ||||||||||||||||||||||
Net Margin | % | 16.5 | 11.5 | 10.1 | 7.08 | 9.43 | ||||||||||||||||||||||
Employees | 26,746 | 26,248 | 25,826 | 26,300 | 29,837 | |||||||||||||||||||||||
balance sheet | ||||||||||||||||||||||||||||
Total Assets | CZK mil | 640,394 | 627,870 | 602,686 | 630,841 | 623,906 | ||||||||||||||||||||||
Non-Current Assets | CZK mil | 485,932 | 497,516 | 493,055 | 489,254 | 487,953 | ||||||||||||||||||||||
Current Assets | CZK mil | 154,462 | 130,354 | 109,631 | 141,587 | 135,953 | ||||||||||||||||||||||
Shareholders' Equity | CZK mil | 262,766 | 265,851 | 272,155 | 261,360 | 254,322 | ||||||||||||||||||||||
Liabilities | CZK mil | 377,628 | 362,019 | 330,531 | 369,481 | 369,584 | ||||||||||||||||||||||
Non-Current Liabilities | CZK mil | 258,064 | 252,189 | 236,832 | 240,041 | 241,603 | ||||||||||||||||||||||
Current Liabilities | CZK mil | 119,564 | 109,830 | 93,699 | 129,440 | 127,981 | ||||||||||||||||||||||
Net Debt/EBITDA | 2.04 | 2.26 | 1.92 | 2.25 | 2.35 | |||||||||||||||||||||||
Net Debt/Equity | % | 59.8 | 55.4 | 48.5 | 52.7 | 54.4 | ||||||||||||||||||||||
Cost of Financing | % | ... | 2.33 | 0.948 | 0.686 | 0.780 | 3.34 | |||||||||||||||||||||
cash flow | ||||||||||||||||||||||||||||
Total Cash From Operations | CZK mil | 72,202 | 70,675 | 72,579 | 48,953 | 45,812 | ||||||||||||||||||||||
Total Cash From Investing | CZK mil | -39,832 | -34,647 | -31,570 | -34,571 | -20,212 | ||||||||||||||||||||||
Total Cash From Financing | CZK mil | -25,741 | -40,893 | -47,374 | -16,540 | -24,107 | ||||||||||||||||||||||
Net Change In Cash | CZK mil | 7,048 | -4,908 | -6,613 | -2,152 | 1,293 | ||||||||||||||||||||||
valuation | ||||||||||||||||||||||||||||
Market Capitalisation | USD mil | ... | ... | 14,028 | 13,876 | 9,545 | 8,966 | 12,490 | ||||||||||||||||||||
Enterprise Value (EV) | USD mil | ... | ... | 21,924 | 20,316 | 14,848 | 14,328 | 18,987 | ||||||||||||||||||||
Number Of Shares | mil | 534 | 534 | 534 | 534 | 534 | ||||||||||||||||||||||
Share Price | CZK | ... | ... | 517 | 591 | 444 | 430 | 497 | ||||||||||||||||||||
Price/Earnings (P/E) | ... | ... | 7.69 | 14.1 | 11.5 | 16.1 | 14.1 | |||||||||||||||||||||
Price/Cash Earnings (P/CE) | ... | ... | ... | ... | ... | ... | ... | ... | 4.44 | 6.52 | 4.96 | 5.49 | 5.69 | |||||||||||||||
EV/EBITDA | ... | ... | 5.56 | 6.67 | 5.16 | 5.89 | 7.57 | |||||||||||||||||||||
Price/Book Value (P/BV) | ... | ... | 1.05 | 1.19 | 0.872 | 0.879 | 1.04 | |||||||||||||||||||||
Dividend Yield | % | ... | ... | 7.74 | 6.77 | 9.00 | 9.30 | 6.65 |
income statement | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
income statement | ||||||||||||||||||||||||||||
Sales | CZK mil | 216,988 | 195,445 | 206,134 | 201,641 | 199,000 | ||||||||||||||||||||||
Cost of Goods & Services | CZK mil | 92,838 | 88,691 | 103,958 | 101,444 | 99,575 | ||||||||||||||||||||||
Gross Profit | CZK mil | 124,150 | 106,754 | 102,176 | 100,197 | 99,425 | ||||||||||||||||||||||
Selling, General & Admin | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | |
Research & Development | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1,057 | 531 | 351 | 369 | 1,041 | ||||||||||
Other Operating Expense | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 142,339 | 139,430 | 151,696 | 147,915 | 149,126 | ||||||
Staff Cost | CZK mil | 18,665 | 18,826 | 17,727 | 19,136 | 22,058 | ||||||||||||||||||||||
Other Operating Cost (Income) | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0 | 6,306 | 3,493 | 1,735 | 6,092 | |||||||
EBITDA | CZK mil | 77,155 | 65,146 | 68,681 | 61,364 | 58,880 | ||||||||||||||||||||||
Depreciation | CZK mil | ... | ... | ... | ... | ... | ... | 26,297 | 26,038 | 27,146 | 27,569 | 27,873 | ||||||||||||||||
EBIT | CZK mil | 45,690 | 34,085 | 28,961 | 26,114 | 25,620 | ||||||||||||||||||||||
Net Financing Cost | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 3,127 | 1,208 | 784 | 965 | 5,144 | |||||||
Financing Cost | CZK mil | 4,565 | 1,816 | 1,172 | 1,268 | 5,379 | ||||||||||||||||||||||
Financing Income | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1,438 | 608 | 388 | 303 | 235 | |||||||||||||
FX (Gain) Loss | CZK mil | -1,070 | 297 | 811 | 339 | -959 | ||||||||||||||||||||||
(Income) / Loss from Affiliates | CZK mil | ... | ... | ... | 953 | 1,223 | 1,655 | 2,733 | 2,387 | |||||||||||||||||||
Extraordinary Cost | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Pre-Tax Profit | CZK mil | 44,406 | 28,656 | 26,895 | 19,328 | 22,753 | ||||||||||||||||||||||
Tax | CZK mil | 9,199 | 6,224 | 6,348 | 4,753 | 3,794 | ||||||||||||||||||||||
Minorities | CZK mil | -679 | 29.0 | -192 | 294 | 194 | ||||||||||||||||||||||
Net Profit | CZK mil | 35,886 | 22,403 | 20,739 | 14,281 | 18,765 | ||||||||||||||||||||||
Net Profit Avail. to Common | CZK mil | 35,886 | 22,403 | 20,739 | 14,281 | 18,765 | ||||||||||||||||||||||
Dividends | CZK mil | 21,520 | 21,520 | 21,369 | 17,630 | 17,635 | ||||||||||||||||||||||
growth rates | ||||||||||||||||||||||||||||
Total Revenue Growth | % | ... | 0.880 | -9.93 | 5.47 | -2.18 | -1.31 | |||||||||||||||||||||
Operating Cost Growth | % | ... | 8.41 | -2.12 | 7.75 | -1.88 | 1.25 | |||||||||||||||||||||
Staff Cost Growth | % | ... | 0.177 | 0.863 | -5.84 | 7.95 | 15.3 | |||||||||||||||||||||
EBITDA Growth | % | ... | -12.8 | -15.6 | 5.43 | -10.7 | -4.05 | |||||||||||||||||||||
EBIT Growth | % | ... | -20.0 | -25.4 | -15.0 | -9.83 | -1.89 | |||||||||||||||||||||
Pre-Tax Profit Growth | % | ... | -12.9 | -35.5 | -6.15 | -28.1 | 17.7 | |||||||||||||||||||||
Net Profit Growth | % | ... | -13.4 | -37.6 | -7.43 | -31.1 | 31.4 | |||||||||||||||||||||
ratios | ||||||||||||||||||||||||||||
ROE | % | ... | 13.9 | 8.48 | 7.71 | 5.35 | 7.28 | |||||||||||||||||||||
ROA | % | ... | 5.62 | 3.53 | 3.37 | 2.32 | 2.99 | |||||||||||||||||||||
ROCE | % | ... | 6.97 | 4.36 | 4.01 | 2.78 | 3.71 | |||||||||||||||||||||
Gross Margin | % | 57.2 | 54.6 | 49.6 | 49.7 | 50.0 | ||||||||||||||||||||||
EBITDA Margin | % | 35.6 | 33.3 | 33.3 | 30.4 | 29.6 | ||||||||||||||||||||||
EBIT Margin | % | 21.1 | 17.4 | 14.0 | 13.0 | 12.9 | ||||||||||||||||||||||
Net Margin | % | 16.5 | 11.5 | 10.1 | 7.08 | 9.43 | ||||||||||||||||||||||
Payout Ratio | % | 60.0 | 96.1 | 103 | 123 | 94.0 | ||||||||||||||||||||||
Cost of Financing | % | ... | 2.33 | 0.948 | 0.686 | 0.780 | 3.34 | |||||||||||||||||||||
Net Debt/EBITDA | 2.04 | 2.26 | 1.92 | 2.25 | 2.35 |
balance sheet | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
balance sheet | ||||||||||||||||||||||||||||
Cash & Cash Equivalents | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 41,957 | 36,885 | 25,601 | 30,033 | 15,976 | ||||||
Receivables | CZK mil | 48,086 | 44,819 | 44,329 | 50,234 | 50,559 | ||||||||||||||||||||||
Inventories | CZK mil | 10,606 | 9,943 | 10,131 | 8,516 | 9,346 | ||||||||||||||||||||||
Other ST Assets | CZK mil | 53,813 | 38,707 | 29,570 | 52,804 | 60,072 | ||||||||||||||||||||||
Current Assets | CZK mil | 154,462 | 130,354 | 109,631 | 141,587 | 135,953 | ||||||||||||||||||||||
Property, Plant & Equipment | CZK mil | 425,662 | 426,542 | 421,364 | 426,895 | 428,019 | ||||||||||||||||||||||
LT Investments & Receivables | CZK mil | 4,605 | 11,579 | 13,655 | 9,503 | 7,062 | ||||||||||||||||||||||
Intangible Assets | CZK mil | ... | ... | ... | ... | ... | ... | 20,701 | 20,611 | 20,164 | 21,983 | 26,804 | ||||||||||||||||
Goodwill | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0 | 9,412 | 9,275 | 9,558 | 12,940 | |||||||
Non-Current Assets | CZK mil | 485,932 | 497,516 | 493,055 | 489,254 | 487,953 | ||||||||||||||||||||||
Total Assets | CZK mil | 640,394 | 627,870 | 602,686 | 630,841 | 623,906 | ||||||||||||||||||||||
Trade Payables | CZK mil | 36,041 | 33,518 | 32,329 | 36,941 | 48,087 | ||||||||||||||||||||||
Short-Term Debt | CZK mil | 30,820 | 23,282 | 11,919 | 25,551 | 21,832 | ||||||||||||||||||||||
Other ST Liabilities | CZK mil | 23,128 | 30,894 | 30,722 | 51,167 | 55,127 | ||||||||||||||||||||||
Current Liabilities | CZK mil | 119,564 | 109,830 | 93,699 | 129,440 | 127,981 | ||||||||||||||||||||||
Long-Term Debt | CZK mil | 168,196 | 160,852 | 145,575 | 142,265 | 132,475 | ||||||||||||||||||||||
Other LT Liabilities | CZK mil | 89,868 | 91,337 | 91,257 | 97,776 | 109,128 | ||||||||||||||||||||||
Non-Current Liabilities | CZK mil | 258,064 | 252,189 | 236,832 | 240,041 | 241,603 | ||||||||||||||||||||||
Liabilities | CZK mil | 377,628 | 362,019 | 330,531 | 369,481 | 369,584 | ||||||||||||||||||||||
Preferred Equity and Hybrid Capital | CZK mil | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||
Share Capital | CZK mil | 53,799 | 53,799 | 53,799 | 53,799 | 53,799 | ||||||||||||||||||||||
Treasury Stock | CZK mil | ... | ... | ... | ... | ... | 4,382 | 4,382 | 4,246 | 4,246 | 4,077 | |||||||||||||||||
Equity Before Minority Interest | CZK mil | 258,076 | 261,308 | 267,893 | 256,812 | 250,018 | ||||||||||||||||||||||
Minority Interest | CZK mil | 4,690 | 4,543 | 4,262 | 4,548 | 4,304 | ||||||||||||||||||||||
Equity | CZK mil | 262,766 | 265,851 | 272,155 | 261,360 | 254,322 | ||||||||||||||||||||||
growth rates | ||||||||||||||||||||||||||||
Total Asset Growth | % | ... | 0.680 | -1.96 | -4.01 | 4.67 | -1.10 | |||||||||||||||||||||
Shareholders' Equity Growth | % | ... | 3.36 | 1.17 | 2.37 | -3.97 | -2.69 | |||||||||||||||||||||
Net Debt Growth | % | ... | -3.50 | -6.25 | -10.4 | 4.47 | 0.398 | |||||||||||||||||||||
Total Debt Growth | % | ... | 3.17 | -7.48 | -14.5 | 6.55 | -8.05 | |||||||||||||||||||||
ratios | ||||||||||||||||||||||||||||
Total Debt | CZK mil | 199,016 | 184,134 | 157,494 | 167,816 | 154,307 | ||||||||||||||||||||||
Net Debt | CZK mil | 157,059 | 147,249 | 131,893 | 137,783 | 138,331 | ||||||||||||||||||||||
Working Capital | CZK mil | 22,651 | 21,244 | 22,131 | 21,809 | 11,818 | ||||||||||||||||||||||
Capital Employed | CZK mil | 508,583 | 518,760 | 515,186 | 511,063 | 499,771 | ||||||||||||||||||||||
Net Debt/Equity | % | 59.8 | 55.4 | 48.5 | 52.7 | 54.4 | ||||||||||||||||||||||
Current Ratio | 1.29 | 1.19 | 1.17 | 1.09 | 1.06 | |||||||||||||||||||||||
Quick Ratio | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.753 | 0.744 | 0.746 | 0.620 | 0.520 |
cash flow | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
cash flow | ||||||||||||||||||||||||||||
Net Profit | CZK mil | 35,886 | 22,403 | 20,739 | 14,281 | 18,765 | ||||||||||||||||||||||
Depreciation | CZK mil | ... | ... | ... | ... | ... | ... | 26,297 | 26,038 | 27,146 | 27,569 | 27,873 | ||||||||||||||||
Non-Cash Items | CZK mil | -504 | 6,631 | 1,397 | 843 | -689 | ||||||||||||||||||||||
Change in Working Capital | CZK mil | 5,355 | 10,580 | 10,723 | -1,421 | -5,524 | ||||||||||||||||||||||
Total Cash From Operations | CZK mil | 72,202 | 70,675 | 72,579 | 48,953 | 45,812 | ||||||||||||||||||||||
Capital Expenditures | CZK mil | -42,170 | -34,417 | -31,474 | -34,475 | -16,775 | ||||||||||||||||||||||
Net Change in LT Investment | CZK mil | ... | ... | ... | ... | ... | -98.0 | 329 | 94.0 | 223 | 350 | |||||||||||||||||
Net Cash From Acquisitions | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 3,164 | 66.0 | 310 | 532 | -3,033 | ||||||
Other Investing Activities | CZK mil | -728 | -625 | -500 | -851 | -754 | ||||||||||||||||||||||
Total Cash From Investing | CZK mil | -39,832 | -34,647 | -31,570 | -34,571 | -20,212 | ||||||||||||||||||||||
Dividends Paid | CZK mil | -21,336 | -21,320 | -21,309 | -21,325 | -17,618 | ||||||||||||||||||||||
Issuance Of Shares | CZK mil | 0 | 0 | 68.0 | 0 | 68.0 | ||||||||||||||||||||||
Issuance Of Debt | CZK mil | -4,401 | -19,311 | -26,129 | 4,825 | -6,156 | ||||||||||||||||||||||
Other Financing Activities | CZK mil | -4.00 | -262 | -4.00 | -40.0 | -401 | ||||||||||||||||||||||
Total Cash From Financing | CZK mil | -25,741 | -40,893 | -47,374 | -16,540 | -24,107 | ||||||||||||||||||||||
Effect of FX Rates | CZK mil | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 419 | -43.0 | -248 | 6.00 | -200 | ||||||
Net Change In Cash | CZK mil | 7,048 | -4,908 | -6,613 | -2,152 | 1,293 | ||||||||||||||||||||||
ratios | ||||||||||||||||||||||||||||
Days Sales Outstanding | days | 80.9 | 83.7 | 78.5 | 90.9 | 92.7 | ||||||||||||||||||||||
Days Sales Of Inventory | days | 41.7 | 40.9 | 35.6 | 30.6 | 34.3 | ||||||||||||||||||||||
Days Payable Outstanding | days | 142 | 138 | 114 | 133 | 176 | ||||||||||||||||||||||
Cash Conversion Cycle | days | -19.1 | -13.3 | 0.555 | -11.3 | -49.3 | ||||||||||||||||||||||
Cash Earnings | CZK mil | ... | ... | ... | ... | ... | ... | 62,183 | 48,441 | 47,885 | 41,850 | 46,638 | ||||||||||||||||
Free Cash Flow | CZK mil | 32,370 | 36,028 | 41,009 | 14,382 | 25,600 | ||||||||||||||||||||||
Capital Expenditures (As % of Sales) | % | 19.4 | 17.6 | 15.3 | 17.1 | 8.43 |
other ratios | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
Employees | 26,746 | 26,248 | 25,826 | 26,300 | 29,837 | |||||||||||||||||||||||
Cost Per Employee | USD per month | 2,972 | 2,797 | 2,396 | 2,403 | 2,625 | ||||||||||||||||||||||
Cost Per Employee (Local Currency) | CZK per month | 58,155 | 59,770 | 57,200 | 60,634 | 61,607 | ||||||||||||||||||||||
Operating Cost (As % of Sales) | % | 78.9 | 85.8 | 87.6 | 87.9 | 90.2 | ||||||||||||||||||||||
Research & Development (As % of Sales) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.487 | 0.272 | 0.170 | 0.183 | 0.523 | ||||||||||
Staff Cost (As % of Sales) | % | 8.60 | 9.63 | 8.60 | 9.49 | 11.1 | ||||||||||||||||||||||
Effective Tax Rate | % | 20.7 | 21.7 | 23.6 | 24.6 | 16.7 | ||||||||||||||||||||||
Total Revenue Growth (5-year average) | % | ... | ... | ... | ... | ... | 3.36 | -0.093 | 0.722 | -0.786 | -1.54 | |||||||||||||||||
Total Revenue Growth (10-year average) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 9.85 | 6.65 | 5.12 | 2.37 | 1.32 |
valuation | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
Market Capitalisation | USD mil | ... | ... | 14,028 | 13,876 | 9,545 | 8,966 | 12,490 | ||||||||||||||||||||
Enterprise Value (EV) | USD mil | ... | ... | 21,924 | 20,316 | 14,848 | 14,328 | 18,987 | ||||||||||||||||||||
Number Of Shares | mil | 534 | 534 | 534 | 534 | 534 | ||||||||||||||||||||||
Share Price | CZK | ... | ... | 517 | 591 | 444 | 430 | 497 | ||||||||||||||||||||
EV/EBITDA | ... | ... | 5.56 | 6.67 | 5.16 | 5.89 | 7.57 | |||||||||||||||||||||
Price/Earnings (P/E) | ... | ... | 7.69 | 14.1 | 11.5 | 16.1 | 14.1 | |||||||||||||||||||||
Price/Cash Earnings (P/CE) | ... | ... | ... | ... | ... | ... | ... | ... | 4.44 | 6.52 | 4.96 | 5.49 | 5.69 | |||||||||||||||
P/FCF | ... | ... | 8.53 | 8.76 | 5.79 | 16.0 | 10.4 | |||||||||||||||||||||
Price/Book Value (P/BV) | ... | ... | 1.05 | 1.19 | 0.872 | 0.879 | 1.04 | |||||||||||||||||||||
Dividend Yield | % | ... | ... | 7.74 | 6.77 | 9.00 | 9.30 | 6.65 | ||||||||||||||||||||
Free Cash Flow Yield | % | ... | ... | 11.8 | 12.1 | 18.0 | 6.36 | 8.73 | ||||||||||||||||||||
Earnings Per Share (EPS) | CZK | 67.2 | 41.9 | 38.8 | 26.7 | 35.1 | ||||||||||||||||||||||
Cash Earnings Per Share | CZK | ... | ... | ... | ... | ... | ... | 116 | 90.7 | 89.6 | 78.3 | 87.3 | ||||||||||||||||
Free Cash Flow Per Share | CZK | 60.6 | 67.4 | 76.8 | 26.9 | 47.9 | ||||||||||||||||||||||
Book Value Per Share | CZK | 492 | 498 | 509 | 489 | 476 | ||||||||||||||||||||||
Dividend Per Share | CZK | 40.0 | 40.0 | 40.0 | 40.0 | 33.0 | ||||||||||||||||||||||
EV/Sales | ... | ... | 1.98 | 2.22 | 1.72 | 1.79 | 2.24 | |||||||||||||||||||||
EV/EBIT | ... | ... | 9.39 | 12.7 | 12.2 | 13.8 | 17.4 | |||||||||||||||||||||
EV/Free Cash Flow | ... | ... | 13.3 | 12.1 | 8.64 | 25.1 | 17.4 | |||||||||||||||||||||
EV/Capital Employed | ... | ... | 0.857 | 0.895 | 0.717 | 0.720 | 0.809 | |||||||||||||||||||||
Earnings Per Share Growth | % | ... | -13.4 | -37.6 | -7.48 | -31.1 | 31.3 | |||||||||||||||||||||
Cash Earnings Per Share Growth | % | ... | ... | ... | ... | ... | ... | ... | ... | -7.88 | -22.1 | -1.17 | -12.6 | 11.4 | ||||||||||||||
Book Value Per Share Growth | % | ... | 3.36 | 1.16 | 2.35 | -3.96 | -2.72 |
generation capacity | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
Total Electricity Generation Capacity | MW | 15,199 | 18,007 | 17,302 | 16,843 | 16,079 | ||||||||||||||||||||||
Hydro Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1,960 | 3,145 | 2,355 | 2,183 | 2,183 | ... | |||||||||
Nuclear Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 4,290 | 4,290 | 4,290 | 4,290 | 4,290 | ... | |||||||||
Thermal Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 8,205 | 9,818 | 9,811 | 9,511 | 8,747 | ... | |||||||||
Coal Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 8,171 | 8,069 | 8,062 | 7,762 | 7,057 | ... | |||||||||
Gas Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 34.0 | 1,749 | 1,749 | 1,749 | 1,690 | ... | ||||||
CHP Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 989 | 877 | 877 | 693 | ... | |
Multi Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | |||
Renewables Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 745 | 754 | 846 | 860 | 859 | ... | |||||||||
Wind Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 608 | 623 | 623 | 636 | 636 | ... | |||||||||
Solar Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 130 | 130 | 130 | 130 | 130 | ... | |||||||||
Biomass Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 5.60 | ... | 1.70 | 1.70 | ... | ... | ... | ||||
Other Electricity Generation Capacity | MW | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.500 | 0.500 | 91.3 | 91.3 | 92.3 | ... | |||
Hydro (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 12.9 | 17.5 | 13.6 | 13.0 | 13.6 | ... | |||||||||
Nuclear (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 28.2 | 23.8 | 24.8 | 25.5 | 26.7 | ... | |||||||||
Thermal (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 54.0 | 54.5 | 56.7 | 56.5 | 54.4 | ... | |||||||||
Coal (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 53.8 | 44.8 | 46.6 | 46.1 | 43.9 | ... | |||||||||
Gas (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.224 | 9.71 | 10.1 | 10.4 | 10.5 | ... | ||||||
CHP (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 5.49 | 5.07 | 5.21 | 4.31 | ... | |
Multi (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | |||
Renewables (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 4.90 | 4.19 | 4.89 | 5.10 | 5.34 | ... | |||||||||
Wind (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 4.00 | 3.46 | 3.60 | 3.78 | 3.96 | ... | |||||||||
Solar (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.857 | 0.723 | 0.753 | 0.773 | 0.810 | ... | |||||||||
Biomass (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.037 | ... | 0.010 | 0.010 | ... | ... | ... | ||||
Other (As % of Electricity Generation Capacity) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.003 | 0.003 | 0.528 | 0.542 | 0.574 | ... |
electricity production | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
Total Electricity Production | GWh | ... | ... | ... | ... | 66,709 | 63,124 | 60,917 | 61,132 | 62,888 | ||||||||||||||||||
Hydro Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 2,673 | 2,152 | 2,214 | 2,347 | 2,156 | ||||||||||
Nuclear Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 30,745 | 30,324 | 26,840 | 24,104 | 28,339 | ||||||||||
Thermal Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 31,305 | 28,694 | 29,632 | 32,502 | 29,872 | ||||||||||
Coal Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 30,812 | 28,534 | 29,090 | 30,689 | 28,176 | ||||||||||
Gas Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 493 | 160 | 542 | 1,813 | 1,696 | ||||||||||
Renewables Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1,986 | 1,955 | 2,230 | 2,179 | 2,521 | ||||||||||
Wind Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1,259 | 1,176 | 1,295 | 1,166 | 1,571 | ||||||||||
Solar Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 127 | 131 | 141 | 132 | 138 | ||||||||||
Biomass Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 598 | 646 | 791 | 879 | 808 | ||||||||||
Other Electricity Production | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 2.00 | 2.00 | 3.00 | 2.00 | 4.00 | ||||||||||
Purchased Electricity | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 169,225 | 167,869 | 194,857 | 185,848 | 248,732 | ||||||||||
Total Electricity Sales | GWh | ... | ... | ... | ... | 55,149 | 51,883 | 49,490 | 50,336 | 52,444 | ||||||||||||||||||
Hydro Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 4.01 | 3.41 | 3.63 | 3.84 | 3.43 | ||||||||||
Nuclear Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 46.1 | 48.0 | 44.1 | 39.4 | 45.1 | ||||||||||
Thermal Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 46.9 | 45.5 | 48.6 | 53.2 | 47.5 | ||||||||||
Coal Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 46.2 | 45.2 | 47.8 | 50.2 | 44.8 | ||||||||||
Gas Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.739 | 0.253 | 0.890 | 2.97 | 2.70 | ||||||||||
Renewables Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 2.98 | 3.10 | 3.66 | 3.56 | 4.01 | ||||||||||
Wind Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 1.89 | 1.86 | 2.13 | 1.91 | 2.50 | ||||||||||
Solar Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.190 | 0.208 | 0.231 | 0.216 | 0.219 | ||||||||||
Biomass Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.896 | 1.02 | 1.30 | 1.44 | 1.28 | ||||||||||
Other Electricity Production (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 0.003 | 0.003 | 0.005 | 0.003 | 0.006 |
electricity sales | Unit | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 |
Electricity Sales to End Customers | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 36,593 | 35,139 | 37,933 | 37,475 | 37,036 | ||||||||||
Electricity Sales to Retail Customers | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 13,512 | 13,058 | 13,153 | 13,723 | 13,418 | |||||
Electricity Sales to Commercial Customers | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 6,417 | 5,941 | 5,525 | 5,133 | 4,892 | |||||
Electricity Sales to Industrial Customers | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 16,664 | 16,140 | 19,255 | 18,619 | 18,726 | |||||
Electricity Sales to Wholesale Customers (Net) | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 18,556 | 16,744 | 11,557 | 12,861 | 15,408 | ||||||||||
Electricity Sales to Wholesale Customers (Gross) | GWh | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 187,781 | 184,613 | 206,414 | 198,709 | 264,140 | ||||||||||
Electricity Sales to Retail Customers (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 36.9 | 37.2 | 34.7 | 36.6 | 36.2 | |||||
Electricity Sales to Commercial Customers (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 17.5 | 16.9 | 14.6 | 13.7 | 13.2 | |||||
Electricity Sales to Industrial Customers (As % of Total) | % | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | ... | 45.5 | 45.9 | 50.8 | 49.7 | 50.6 |
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By Helgi Analytics - October 12, 2020
CEZ's total assets reached CZK 699,881 mil at the end of 2Q2020, up 3.11% compared to the previous year. Current assets amounted to CZK 204,320 mil, or 29.2% of total assets while cash stood at CZK 72,149 mil at the end of 2Q2020. ...
By Helgi Analytics - August 26, 2020
CEZ stock traded at CZK 472 per share at the end 2Q2020 implying a market capitalization of USD 11,484 mil. Since the end of 2Q2015, stock has appreciated by -16.9% implying an annual average growth of -3.64% In absolute terms, the value of the company f...
By Helgi Analytics - August 26, 2020
CEZ generated sales of CZK 48,189 mil in 2Q2020, up 2.5% compared to the previous year. Historically, between 1Q1993 and 2Q2020, the company’s sales reached a high of CZK 60,793 mil in 1Q2012 and a low of CZK 11,661 mil in 1Q1994. Over the last th...
By Helgi Analytics - August 26, 2020
CEZ stock traded at CZK 472 per share at the end 2Q2020 translating into a market capitalization of USD 11,484 mil. Since the end of 2Q2015, the stock has depreciated by 16.9% representing an annual average growth of -3.64%. At the end of 2Q2020, the fir...
By Helgi Analytics - August 26, 2020
CEZ invested a total of CZK 6,377 mil in 2Q2020, up 36.7% compared to the previous year. Historically, between 1Q2009 - 2Q2020, the company's investments stood at a high of CZK 32,853 mil in 4Q2009 and a low of CZK -5,082 mil in 2Q2017. ...
By Helgi Analytics - August 26, 2020
CEZ's net debt stood at CZK 90,112 mil and accounted for 35.8% of equity at the end of 2Q2020. The ratio is up 1.94 pp compared to the previous year. Historically, the firm’s net debt to equity reached a high of 68.2% in 4Q2011 and a low of -...
By Helgi Analytics - August 26, 2020
CEZ's operating cash flow stood at CZK 17,952 mil in 2Q2020, up 118% when compared to the previous year. Historically, between 1Q1993 - 2Q2020, the firm’s operating cash flow reached a high of CZK 28,446 mil in 2Q2009 and a low of CZK -1,177 mil in...
By Helgi Analytics - August 26, 2020
CEZ employed 32,200 employees in 1Q2020, up 2.22% compared to the previous year. Historically, between 4Q1993 and 1Q2020, the firm's workforce hit a high of 32,937 employees in 4Q2010 and a low of 7,138 employees in 1Q2003. Average personnel cost sto...
By Helgi Analytics - August 26, 2020
CEZ stock traded at CZK 380 per share at the end 1Q2020 translating into a market capitalization of USD 8,803 mil. Since the end of 1Q2015, stock has depreciated by 39.4% representing an annual average growth of -9.53%. In absolute terms, the value of t...
By Helgi Analytics - August 26, 2020
CEZ stock traded at CZK 475 per share at the end 2019 translating into a market capitalization of USD 12,048 mil. Since the end of 2014, stock has depreciated by 19.6% representing an annual average growth of -4.27%. In absolute terms, the value of the ...
ČEZ, a.s. is a Czech Republic-based company engaged in the production and distribution of electricity. The Company's core businesses are generation and distribution of electricity, electricity trading, generation and distribution of heat, gas trading, and relate activities. The Company's activities are divided into four segments: Production, Distribution, Mining, and Other Business. It operates various types of power plants: nuclear, coal, hydro, biomass, photovoltaic, wind and natural gas. Apart from its domestic Czech market, ČEZ Group operates also in Albania, Bulgaria, Germany, Hungary, Poland, Romania, Slovakia and Turkey. In 1994, a minor stake in the company was privatized using voucher privatization and further 7% of the company has been sold through a stock market in 2007. Still, the Czech Republic remained the company’s largest shareholder with nearly a 70% stake at the end of 2014.
CEZ has been growing its sales by 0.640% a year on average in the last 5 years. EBITDA has fallen on average by 1.78% a year during that time to total of CZK 59,541 mil in 2019, or 29.5% of sales. That’s compared to 30.3% average margin seen in last five years.
The company netted CZK 14,373 mil in 2019 implying ROE of 5.81% and ROCE of 2.84%. Again, the average figures were 6.07% and 3.08%, respectively when looking at the previous 5 years.
CEZ’s net debt amounted to CZK 102,088 mil at the end of 2019, or 40.0% of equity. When compared to EBITDA, net debt was 1.71x, down when compared to average of 1.88x seen in the last 5 years.
CEZ stock traded at CZK 475 per share at the end of 2019 resulting in a market capitalization of USD 12,048 mil. Over the previous five years, stock price fell by 19.6% or -4.27% a year on average. The closing price put stock at a 12-month trailing EV/EBITDA of 6.27x and price to earnings (PE) of 17.7x as of 2019.