CEZ Romania posts €40 mln in 2007 net profit
AGERPRES - Romanian News Agency - 29 Iulie 2008
The companies included in the Romanian subsidiary of Czech CEZ energy group, CEZ Servicii, CEZ Vanzare and CEZ Distributie, registered €40.24 million in net profit, some €10.92 mln higher than last year, CEZ Romania announced on Monday, reads the daily Business Standard.
Furthermore, the profit exceeds the company's €38.23 mln estimate. Profits increased due to investments made in the past few years. In 2007, the company invested €61.9 mln in the distribution network, according to CEZ Romania's Chief Financial Officer (CFO), Leon Vrska. For 2008, the company foresees net profit close to last year's level and earnings before interest, taxes, depreciation and amortization (EBITDA) worth €73.68 mln, similar to 2007.
Electricity sales rose by 4.3 TWh last year, compared to 3.8 TWh in 2006.
The company confirmed information published last week by Business Standard that it was chosen by Continental Wind Partners (CWP) investment fund for the takeover of a 600 MW wind energy project in southeastern Romania, near the village of Fantanele. The project is to be approved today by CEZ's Supervisory Board. The company is to invest some €800 million in the project.
Sursa: http://www.rompress.ro
Tags: euro
profit
romania
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