Sat, Nov 21 2009

CEZ INVESTMENT IN BULGARIA FOR 2005 REACHES 65 M LEVA

Mon, Mar 27 2006 16:57 CET 218 Views

The Czech company CEZ invested 65 million leva in 2005 in its three electric power supply companies in Bulgaria.

CEZ owns 67 per cent of the Sofia electric distribution company, of the Sofia region distribution company and of the Pleven power supplier, the Bulgarian National Radio reported.

Most of the funds were used for the renovation and modernisation of the distribution network.

As a part of the CEZ Group, the Bulgarian companies contributed for the formation of the positive financial results of the group for 2005. CEZ sold 74.4 TWh of electric energy, which represents a 10 per cent increase compared to the 2004 quantity.

Nearly 10 per cent of the overall sales have been carried out through the Bulgarian companies. The three electricity distributors minimised losses along the network by 11.4 per cent, despite the increased consumption.

In 2005 the net consolidated profit of the company reached 750 million euro. Its income rose by 21.8 per cent.

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

Bulgarian MPs resurrect proposal to raise spirits excise

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.