Latest comment from financial markets

Indicator Analysis: December brought mixed results from the real economy

2/6/2023 5:14 PM

Industrial production for December ended with a worse result than we and the market expected. This was due to lower auto production as well as a decline in output in energy-intensive industries. In contrast, automobiles, along with computer and electrical and optical equipment production, improved December's foreign trade result significantly. The Czech construction output data was also better than expected.

Autor: Jana Steckerová Show more

Latest comment from the equity market

Commentary: CEZ: The outlook for this year exceeds our estimates

2/3/2023 3:05 PM

CEZ announced its outlook for this year. CEZ management's estimates take into account the impact of the windfall tax. At the EBITDA level, management estimates earnings at CZK105-125bn and adjusted net profit at CZK30-40bn. CEZ estimates the average realised electricity price at EUR120-160/MWh, for 45-47MWh of generated electricity. The levy on generation revenues should be in the range of CZK7-33bn, while the windfall tax should be CZK20-30bn. The standard corporate tax will be CZK13-17bn.

Autor: Bohumil Trampota Show more