CEZ Group 2012 net profit in Romania surges to 189 mln lei (42.3 mln euro)

The companies operating within the CEZ Group in Romania registered a net profit of 189 million lei ($55.1 million/42.3 million euro) in 2012, CEZ Romania said.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 719 million lei last year, CEZ Romania said in a statement last week.

In 2011, CEZ reported a net profit of 45.1 million lei in Romania and EBITDA of 482.6 million lei.

Capital expenditure (CAPEX) reached 1.49 billion lei in 2012 and the amount of electricity distributed to customers grew to 6,978 gigawatt hours (GWh) in 2012.

The company's distribution unit, CEZ Distributie, posted an EBITDA of 289 million lei in 2012, while the sales unit, CEZ Vanzare, raised EBITDA by 143 million lei to some 122 million lei. CEZ Vanzare sold 3,688 GWh of electricity last year, 5.0% up from 2011.

CEZ operates two wind parks in the southeastern Dobrogea region, Fantanele and Cogealac, and a small hydropower plant near Resita, in western Romania. Fantanele-Cogealac is the largest onshore wind park in Europe with a capacity of 600 megawatts.

CEZ's wind farms in Dobrogea generated 965 GWh in 2012 and accounted for revenues of 443 million lei. Investment in the two farms reached 1.14 billion lei in 2012.

Capital expenditure in the hydro system in Resita amounted to 69 million lei, double compared to 2011, as CEZ started refurbishment works last year.

The company acquired the project to build the Fantanele-Cogealac wind farm from Continental Wind Partners LLC in 2008.

CEZ has been present in Romania since 2005.

(1 euro = 4.4646 Romanian lei)

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