| Type | Public (PSE: CEZ, WSE: CEZ, FWB: CEZ) |
|---|---|
| Industry | Energy |
| Founded | 1992 |
| Headquarters | Prague, Czech Republic |
| Key people | Martin Roman, CEO |
| Revenue | 196.35 billion CZK (2009) |
| Net income | 51.86 billion CZK (2009) |
| Employees | 32,707 (1Q 2010)[1] |
| Website | www.cez.cz |
CEZ Group (Czech: Skupina ČEZ České Energetické Závody) is a conglomerate of 96 companies (including the parent company ČEZ, a.s.), 72 of them in the Czech Republic. It is involved in the electricity generation, distribution, and trade. CEZ Group operates also in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Germany, Hungary, Kosovo, Poland, Romania, Serbia, Slovakia and Turkey. ČEZ, a.s. is listed on Prague Stock Exchange, Warsaw Stock Exchange and ČEZ shares are also traded on the Frankfurt Stock Exchange.
ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its political activities have recently come under scrutiny.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from CEZ’s board into politics".[4]
As of late 2010 the EU is investigating the company's activities.[4]
Contents |
CEZ Group is an operator of various energy sources. Most important are listed[5] (in the Czech Republic, if not indicated):
| Year | Production (TWh) | Emission (Gt CO2) | kg CO2/MWh |
|---|---|---|---|
| 2002 | 54 | 34.7 | 643 |
| 2003 | 61 | 34 | 557 |
| 2004 | 62 | 35.71 | 575 |
| 2005 | 60 | 33.3 | 555 |
| 2006 | 66 | 36.26 | 553 |
| 2007 | 73 | 46.85 | 640 |
| 2008 | 68 | 40.38 | 597 |
| 2009 | 65 | 37.2 | 569 |
In 1994 minor stake in company was privatized using voucher privatization. If citizen invested all his vouchers (sold for 1000,- Kčs) in ČEZ, he gained 33 stocks (330 current shares after stock split).[6] In 2007 Czech government decided to sell gradually another 7 % stake on stock market,[7] but due price fall of stocks in spring 2009 affected by financial crisis selling was suspended. In 2008 company decided to make share repurchase of 9 % stake,[8] so as result government has 69.4 % stake as of December 12, 2009.[9]
Stocks are traded on Prague, Czech Stock Exchange – RM-SYSTÉM, Warsaw and Frankfurt stock exchanges. As of December 12, 2009 asset managers held 20.8 % (of them as of May 7, 2009, UniCredit Bank Czech held 8.6 % and Citibank Europe 7.7 %[10]), other legal persons 3,2 % and natural persons 5.4 % stake. Since 2001 company is paying annual dividends.
ČEZ's will give charities electric cars to use and test. The ČEZ will begin by loaning about a dozen electric vehicles to NGOs, with between 50 and 100 cars being made available over the coming years. The first two vehicles – a Fiat Fiorino Combi and a Fiat Fiorino Cargo – will go to a senior citizen health care charity based in Prague.[11]
ČEZ is the largest utility and biggest public company in Central and Eastern Europe. Its influence on the Czech politics and connections to Russia have recently come under scrutiny.[2][3] According to the Economist, "though nominally state-run, many see the power flowing the other way: from CEZ’s board into politics".[4]
The management of CEZ has financed the country’s largest political parties – the Civic Democratic Party (ODS) and the Social Democrats (CSSD). One analysis points out that the financing has resembled that coming from PPF and J&T, two firms which have been highly active in Russia since the early 1990s and their senior management is known to have links to the former Czechoslovak StB security service and the Soviet KGB.[3]
A Czech court recently ruled that, as a state-owned company, CEZ must disclose political activities.[2]
Leaked pictures show politicians across political spectrum, including a former Prime Minister, holidaying with CEZ lobbyists in Italy.[12][4]
As of late 2010 the European Union is investigating CEZ. The company's offices were raided in November 2010.[4][13]
CEZ selected a mysterious company called CEEI to construct a billion dollar nuclear storage facility for the Czech Republic. The company's paper trace ends in U.B.I.E, a company registered in Liechtenstein. Russia's honorary consul is named as its director. The company is believed to be under Russian control.[2] CEEI's directors include Vaclav Klaus's former chief of staff (Jiří Kovář) and a man who is jail for kidnapping.[2]
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