Czech power company CEZ reports 1st half of year net profit of $1 billion, 34% down year-on-year
The Czech power utility CEZ said on Thursday its net profit in the first half of 2023 reached 22.3 billion Czech crowns ($1 billion), down from 33.6 billion in the same period a year ago. The country’s main electricity producer said it attributed the 34% decline to a windfall tax on profits introduced as prices for energy soared. The Czech state, which has an almost 70% stake in the company, will receive up to 120 billion Czech crowns from CEZ this year in dividends, income taxes and levies on production sales, including a windfall tax, the company