CEZ Group reports EBITDA of 466 million RON in 2016

CEZ Group in Romania reported in 2016 a profit before interests, taxes, depreciation, and amortization (EBITDA) of 466 million RON, eight per cent more than in 2015, the company representatives announced in a press conference.

2017-07-04 15:29:17

The positive results were mostly influenced by the evolution of the energy generation activity. Also, the Group ended 2016 with better results than the previous year, from the point of view of net profit, with 181 million RON increase than in 2015, due to wind energy generation.

In 2016, the turbines of Fantanele Wind Farm generated 675 GWh, CEZ Group in Romania being the largest private producer of renewable energy in the country. The micro hydro power plants in CEZ's portfolio, registered a gross annual production of 77 GWh, 37 GWh more than in 2015 due to the favorable weather conditions and the optimized production process.

"The positive financial results of 2016 are vivid proof that our investments in the modernization of the grid and the improvement of operational efficiency were worth it," said Martin Zmelik, Country Manager and Chairman of the Board CEZ Romania. "In 2016, we consolidated our position as a long-term partner for Romania and maintained customer satisfaction as the Group's activities efficiency indicator. The commitment of CEZ towards Romanian consumers characterizes all of our initiatives, starting with the SMART Transformation project and continuing with the development of electric mobility and social responsibility projects for the community."

CEZ Group has been present on the Romanian market since 2005, when it took over the electricity distribution company Electrica Oltenia SA, providing services to seven counties: Arges, Dolj, Gorj, Mehedinti, Olt, Valcea, and Teleorman. Distributie Oltenia, CEZ Romania, CEZ Vanzare, CEZ Trade, Tomis Team, MW Invest, Ovidiu Development, and TMK Hydroenergy Power are the eight companies that form CEZ Group in Romania.