CEZ Electro Bulgaria [BUL:1CZ], a subsidiary of Czech power utility CEZ, said on Monday its net profit rose to 38.8 million levs ($23.1 million/19.8 million euro) in the first nine months of 2017, compared to 17.1 million levs in the like period of last year.
The company’s operating revenue edged down to 938.6 million levs in January-September, from 942.6 million levs in the corresponding period of 2016, CEZ Electro Bulgaria said in a bourse filing.
Operating expenses fell to 895.5 million levs in the review period, compared to 923.6 million levs the year before.
In August, CEZ Group said it had received binding bids for its assets in Bulgaria from several candidates. It did not name the candidates.
In January, CEZ Group announced it had decided to study the options related to its equity investments in Bulgaria, based on the interest of several unnamed investors. It did not elaborate.
CEZ Electro Bulgaria, operating in the Sofia region as well as western and northern regions of the country, is licensed for the transmission and distribution of electricity and the operation of a distribution grid.
The structure of CEZ Group in Bulgaria includes CEZ Electro Bulgaria, power distributor CEZ Distribution Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna power plant.
The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.
(SeeNews)
