Cez As · PSECZ:CEZ
Cez As — H1 2021 Earnings Presentation
59 slides from Cez As's earnings presentation, Aug 10, 2021
Slide 1: Presentation on CEZ Group Financial Results in H1 2021
PRESENTATION ON CEZ GROUP FINANCIAL RESULTS IN H1 2021 NON-AUDITED CONSOLIDATED RESULTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) AUGUST 10, 2021
Slide 2: Contents
CONTENTS Financial Highlights and Selected Events Financial Performance of Business Segments Annual Outlook 2
Slide 3: CEZ Group Financial and Operating Results
CEZ GROUP FINANCIAL AND OPERATING RESULTS H1 2020 H1 2021 Difference % Operating revenues CZK bn 106.3 108.2 +2.0 +2% EBITDA CZK bn 38.7 31.6 -7.1 -18% EBIT CZK bn 22.0 6.1 -15.8 -72% Net income CZK bn 14.7 1.6 -13.1 -89% Adjusted net income* CZK bn 16.4 11.3 -5.1 -31% Operating cash flow CZK bn 31.
Slide 4: Year-on-year change in EBITDA affected by specific temporary effects and sale of Romanian assets
YEAR-ON-YEAR CHANGE IN EBITDA AFFECTED BY SPECIFIC TEMPORARY EFFECTS OF CZK 3.9 BN AND SALE OF ROMANIAN ASSETS CZK bn 40 38.7 38 36 4.4 -2.2 34 -1.8 31.6 32 -3.9 Assets for 30 +1.3 2.8 sale* +0.4 +0.7 28 26 34.3 24 STRATEGIC CZK -5.5 bn 28.8 Strategic 22 ASSETS -16.1% assets 20 H1 2020 Trading Gener
Slide 5: Other Income and Expenses
OTHER INCOME AND EXPENSES (CZK bn) H1 2020 H1 2021 Difference % EBITDA 38.7 31.6 -7.1 -18% Depreciation, amortization, and impairments* -16.7 -25.5 -8.7 -52% Other income (expenses) -3.7 -1.9 +1.8 +50% Interest income (expenses) -2.6 -2.0 +0.6 +23% Interest on nuclear and other reserves -1.0 -1.0 -0
Slide 6: Sale of Bulgarian assets completed, purchase price paid
SALE OF BULGARIAN ASSETS COMPLETED, PURCHASE PRICE PAID. INTERNATIONAL ARBITRATION AGAINST THE BULGARIAN STATE CONTINUES On July 27, 2021, the companies‘ shares were handed over to the buyer against the payment of the full purchase price (EUR 335 million) On July 27, the shares were transferred to
Slide 7: European Commission specified draft climate targets with significant increases
EUROPEAN COMMISSION SPECIFIED DRAFT CLIMATE TARGETS WITH SIGNIFICANT INCREASES ALREADY FOR THE CURRENT DECADE 2030 targets (original agreement) 2030 targets (EC’s current proposal) Reduction of At least 40% At least 55% greenhouse gas • Binding EU-wide target • Binding EU-wide target emissions • Red
Slide 8: Prices of electricity and emission allowances reflect EU's growing climate ambitions
PRICES OF ELECTRICITY AND EMISSION ALLOWANCES REFLECT THE EU'S GROWING CLIMATE AMBITIONS AND INCREASING GAS PRICES Prices of Electricity and Emission Allowances in Germany (Jan 1, 2021–Aug 3, 2021) EEX: Cal22 BL, Cal23 BL (EUR/MWh); EUA with delivery in 12/2022 and 12/2023 (EUR/ton) • The increase i
Slide 9: May: CEZ Group introduced strategic ambitions until 2030 under Vision 2030
MAY 20 CEZ GROUP INTRODUCED STRATEGIC AMBITIONS UNTIL 2030 UNDER “VISION 2030—CLEAN ENERGY OF TOMORROW” The main objectives of the accelerated strategy—VISION 2030 • We will develop CEZ Group in a responsible and sustainable manner in accordance with ESG principles. • We are accelerating development
Slide 10: Strategic ambitions of Vision 2030—Clean Energy of Tomorrow
STRATEGIC AMBITIONS OF “VISION 2030—CLEAN ENERGY OF TOMORROW” Transform our generation portfolio to a low- Provide the best energy solutions and the best emission one and achieve carbon neutrality customer experience in the market Nuclear Power Plants Distribution • We will safely increase generatio
Slide 11: Specific targets in all three areas of ESG
WE HAVE SET SPECIFIC TARGETS IN ALL THREE AREAS OF ESG TO ACHIEVE THIS AMBITION CEZ Group‘s ESG commitments Environment Social Governance CO2 emissions reduction in line with Remain good corporate citizen We will reach 30% share of women in Paris Agreement‘s "well below 2°" developing good rel
Slide 12: Reduce CO2 emissions in line with Paris Agreement and achieve carbon neutrality by 2050
WE WILL REDUCE CO2 EMISSIONS IN LINE WITH THE PARIS AGREEMENT AND ACHIEVE CARBON NEUTRALITY BY 2050 Reduction of CO2 emission intensity By 2030, we will reduce the (t CO2e/MWh) share of coal-fired power generation to below 12.5% over 50% reduction and by 2038 we will phase 0.33 out coal-fired gene
Slide 13: Financial target of Vision 2030: increase EBITDA by at least 40% by 2030
THE FINANCIAL TARGET OF VISION 2030: INCREASE EBITDA BY AT LEAST 40% BY 2030 Vision 2030 CEZ Group's EBITDA* CLEAN ENERGY OF TOMORROW (CZK bn) +40 % I Transform our generation portfolio to a low- 80–85 emission one and achieve carbon neutrality. 65–70 57 II Provide the most cost-effective energy sol
Slide 14: Execute 2030 growth strategy while keeping leverage within target
WE CAN EXECUTE OUR 2030 GROWTH STRATEGY WHILE KEEPING LEVERAGE WITHIN OUR TARGET Expected Cumulative Capex* and Expected Net debt to EBITDA ratio EBITDA** 2021—2030 (CZK bn) 650–700 3.0x 2.5x 500–550 2.2x Capital Expenditures EBITDA 2020 2025 2030 Preservation Organic growth*** Acquisitions We will
Slide 15: 2025 and 2030 EBITDA sensitivity to changes in electricity prices
2025 AND 2030 EBITDA SENSITIVITY TO CHANGES IN ELECTRICITY PRICES: Q2 2021 INCREASE IN FORWARD ELECTRICITY PRICES, THE LEVEL OF WHICH WOULD INDICATE EBITDA IN 2030 WOULD BE CZK 15 BN HIGHER +XX Positive impact on EBITDA*** CEZ Group EBITDA* incl. indication of sensitivity to market prices -XX Negati
Slide 16: Contents
CONTENTS Financial Highlights and Selected Events Financial Performance of Business Segments Annual Outlook 16
Slide 17: Strategic assets of CEZ Group: EBITDA by segments and operating results
STRATEGIC ASSETS OF CEZ GROUP* EBITDA BY SEGMENTS AND OPERATING RESULTS EBITDA (CZK bn) H1 2020 H1 2021 Difference % GENERATION Segment 21.4 13.5 -7.9 -37% MINING Segment 1.7 2.1 +0.4 +21% DISTRIBUTION Segment 8.9 9.6 +0.7 +8% SALES Segment 2.3 3.6 +1.3 +55% Total Strategic Assets 34.3 28.8 -5.5 -16
Slide 18: EBITDA of the Segment Generation
EBITDA OF THE SEGMENT GENERATION STRATEGIC ASSETS EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Zero-emission Generating Facilities 13.1 13.4 +0.3 +2% 6.5 6.1 -0.4 -6% of which: nuclear 10.8 10.8 +0.0 +0% 5.2 4.5 -0.7 -13% of which: renewables 2.3 2.5 +0.2 +10% 1.3 1.4 +0.1 +8% Fossi
Slide 19: Electricity generation in H1 (TWh)
ELECTRICITY GENERATION IN H1 (TWH) STRATEGIC ASSETS Renewables (+9%) (Hydro, Wind, Photovoltaics, Biomass, Biogas) Czechia hydro (+16%) -6% + Higher generation at hydroelectric power plants due to better-than-average 27.9 26.2 hydrometeorological conditions 1.6 Germany—Wind (-29%) +9 % 1.7 — Renewab
Slide 20: Estimated electricity generation in 2021 (TWh)
ESTIMATED ELECTRICITY GENERATION IN 2021 (TWH) STRATEGIC ASSETS Renewables (-1%) Czechia hydro (+1%) + Higher generation at hydroelectric power plants due to better-than-average hydrometeorological conditions -5% 57.1 54.0 Czechia biomass (-3%) — Generation decrease from biomass at the Hodonín power
Slide 21: Expected emission intensity of CEZ Group in 2021
WE EXPECT THE EMISSION INTENSITY OF CEZ GROUP IN ELECTRICITY GENERATION TO BE 0.29 T CO2/MWHE FOR THE WHOLE YEAR 2021 CEZ Group’s Emission Intensity of Electricity Generated (t CO2/MWhe) 0.60 Current emissions 0.55 of a marginal 0.50 power plant in 0.45 Germany 0.40 -12% 0.35 -19% Emissions of 0.30
Slide 22: Hedging 2022–25 generation margin against market risks
HEDGING 2022–25 GENERATION MARGIN AGAINST MARKET RISKS: FOR 2022 34 TWH OF ELECTRICITY SOLD FOR 50.2 EUR/MWH, 10.3 MILLION TON EUA PURCHASED FOR 28.1 EUR/T Electricity sold for 2022–2025 in TWh (as at June 30) Contracted emission allowances in million tons for 2022–2025* (as at June 30) 34.1 Hedged
Slide 23: EBITDA of the Segment Mining
EBITDA OF THE SEGMENT MINING EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Czechia 1.7 2.1 +0.4 +21% 0.4 0.6 +0.2 +55% Total Mining Segment 1.7 2.1 +0.4 +21% 0.4 0.6 +0.2 +55% Semiannual year-on-year effects: Quarterly year-on-year effects: Czechia (CZK +0.4 bn) Czechia (CZK +0.2 bn)
Slide 24: EBITDA of the Segment Distribution
EBITDA OF THE SEGMENT DISTRIBUTION EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Czechia 8.9 9.6 +0.7 +8% 4.1 4.4 +0.3 +7% Romania 0.9 0.5 -0.4 -42% 0.5 — -0.5 — Bulgaria 1.1 1.0 -0.1 -9% 0.5 0.4 -0.1 -21% Total Distribution Segment 10.9 11.1 +0.2 +2% 5.1 4.8 -0.3 -6% of which: Strat
Slide 25: Electricity consumption in the distribution area of ČEZ Distribuce
ELECTRICITY CONSUMPTION IN THE DISTRIBUTION AREA OF ČEZ DISTRIBUCE INCREASED ABOVE THE 2019 LEVEL Electricity distribution (TWh) Temperature- and calendar-adjusted electricity consumption (TWh) 18.4 19.0 -5% 17.5 +9% 2.5 2.5 2.4 +2% -5% +7% -3% 5.1 6.1 5.3 Residential +4% +14% customers +1.9% Retail
Slide 26: EBITDA of the Sales Segment
EBITDA OF THE SALES SEGMENT STRATEGIC ASSETS EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Retail segment—ČEZ Prodej 1.8 2.5 +0.8 +43% 0.8 1.1 +0.3 +43% B2B segment—ESCO companies 0.5 0.9 +0.3 +64% 0.1 0.3 +0.3 >200% of which Energy Services—Czechia and Slovakia 0.4 0.4 -0.1 -13% 0.1
Slide 27: Volume of electricity and gas sold and number of customers; Czech retail
VOLUME OF ELECTRICITY AND GAS SOLD AND NUMBER OF CUSTOMERS; CZECH REPUBLIC—RETAIL Number of customers Electricity and gas supplies Electricity and gas supply increased by increased mainly due to the 15% year-on-year stable year-on-year colder winter in 2021. (TWh) (service points in thousands) I
Slide 28: Revenues from the sale of energy services
REVENUES FROM THE SALE OF ENERGY SERVICES INCREASED BY +3% IN H1, INCREASE FOR THE WHOLE YEAR IS EXPECTED AT +8% Semiannual sales (CZK bn) Revenue outlook (CZK bn) 11.2 +8% 24.4 10.8 +3% 22.5 Germany (Elevion group) +7% 13.9 6.4 +8% 6.9 13.0 Czechia and Slovakia (ČEZ +0% ESCO group) +4% 3.1 3.1 6.4
Slide 29: Contents
CONTENTS Financial Highlights and Selected Events Financial Performance of Business Segments Annual Outlook 29
Slide 30: Refining the financial outlook for 2021
REFINING THE FINANCIAL OUTLOOK FOR 2021: EBITDA CZK 58–60 BN, ADJUSTED NET INCOME CZK 18–20 BN EBITDA CZK bn Selected reasons for increase in financial outlook as compared to outlook from May 11, 2021 57–60 58–60 2–3 3 Higher electricity distributed in Czechia Higher supply of electricity and ga
Slide 31: Share of fossil-fuel generation in strategic assets EBITDA to decrease to 4% in 2021
WE ESTIMATE THAT THE SHARE OF FOSSIL-FUEL GENERATION IN STRATEGIC ASSETS EBITDA WILL DECREASE TO 4% IN 2021 2020 EBITDA—Strategic Assets 2021 EBITDA—Strategic Assets (CEZ Group Excluding Assets for Sale) (CEZ Group Excluding Assets for Sale) Sales Generation Sales Generation - 11 % - trading 7% trad
Slide 32: Annexes
ANNEXES Selected Events in the Past Quarter Shareholders’ Meeting Development of shareholder value Selected events in individual segments Financial Performance and Investments in 2021 Q2 EBITDA of Strategic Assets—by segment Q2 Net profit including rationale for impairments Operating rev
Slide 33: The annual shareholders' meeting of ČEZ held on June 28, 2021
THE ANNUAL SHAREHOLDERS' MEETING OF ČEZ, A. S., WAS HELD ON JUNE 28, 2021 As part of the approved agenda: • It heard the reports of the company's bodies, • Heard information on CEZ Group's development plans for 2030 “Vision 2030—Clean Energy of Tomorrow”, • Approved the Financial Statements of ČEZ,
Slide 34: CEZ's share provides the highest total shareholder return among European energy companies
CEZ’S SHARE PROVIDES THE HIGHEST TOTAL SHAREHOLDER RETURN AMONG COMPARABLE EUROPEAN ENERGY COMPANIES THIS YEAR (+29%), THE HIGHEST DIVIDEND PAYOUT RATIO CONTRIBUTED TO THIS CEZ's share price and European Utilities Index in Total shareholder return** in 2021 (in % for the Dividend payout 2021 (%, fro
Slide 35: Selected events: nuclear energy, divestment process in Poland
SELECTED EVENTS FOR THE PAST QUARTER: NUCLEAR ENERGY, DIVESTMENT PROCESS IN POLAND Preparatory steps for the construction of a new nuclear power plant at Dukovany are in progress Nuclear facility siting permit obtained from SÚJB, plant authorization issued in accordance with the Energy Act Appli
Slide 36: Selected events: traditional and new energy
SELECTED EVENTS FOR THE PAST QUARTER TRADITIONAL AND NEW ENERGY Greening and decarbonization measures in the Traditional Energy The overhaul of Units 21 and 22 of the Tušimice power plant was started, including the implementation of additional greening measures, enabling the units to operate in ac
Slide 37: Selected events: innovation, sales, distribution
SELECTED EVENTS FOR THE PAST QUARTER INNOVATION, SALES, DISTRIBUTION Selected Events in Innovations As an additional investment in its existing portfolio, Inven Capital invested in, among others, the German company Forto (focused on the digitization of maritime and air transport). The valuation of
Slide 38: Annexes
ANNEXES Selected Events in the Past Quarter Shareholders’ Meeting Development of shareholder value Selected events in individual segments Financial Performance and Investments in 2021 Q2 EBITDA of Strategic Assets—by segment Q2 Net profit including rationale for impairments Operating rev
Slide 39: EBITDA – Q2 year-on-year comparison
EBITDA – Q2 YEAR-ON-YEAR COMPARISON CZK bn 14 12.8 11.7 12 1.8 -1.1 +0.7 0.5 +0.2 +0.3 10 8 Assets for sale* 6 11.0 11.2 4 STRATEGIC CZK +0.2 bn ASSETS +1.5% Strategic 2 assets 0 EBITDA GENERATION MINING DISTRIBUTION SALES EBITDA Q2 2020 Q2 2021 Strategic assets (CZK +0.2 bn) SALES segment (CZK +0
Slide 40: Generation segment EBITDA by countries
GENERATION SEGMENT EBITDA BY COUNTRIES EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Czechia 21.1 13.4 -7.7 -37% 5.7 4.7 -1.0 -18% Germany 0.3 0.2 -0.1 -28% 0.1 0.1 +0.0 +45% Poland 0.4 0.3 -0.0 -12% 0.0 0.1 +0.0 +77% Romania 1.3 0.6 -0.7 -53% 0.5 0.0 -0.5 -100% Other Countries 0.0 0
Slide 41: Sales segment EBITDA by countries
SALES SEGMENT EBITDA BY COUNTRIES EBITDA (CZK bn) H1 2020 H1 2021 Diff % Q2 2020 Q2 2021 Diff % Czechia 2.0 3.1 +1.1 +53% 0.7 1.3 +0.6 +84% Germany 0.2 0.4 +0.1 +50% 0.1 0.2 +0.1 +45% Romania 0.4 0.1 -0.3 -83% 0.1 -0.0 -0.1 — Bulgaria 0.3 0.2 -0.1 -21% 0.1 0.0 -0.1 -88% Other Countries 0.1 0.2 +0.1
Slide 42: Net income – Q2 year-on-year comparison
NET INCOME – Q2 YEAR-ON-YEAR COMPARISON (CZK bn) Q2 2020 Q2 2021 Difference % EBITDA 12.8 11.7 -1.2 -9% Depreciation, amortization, and impairments* -9.7 -16.8 -7.1 -73% Other income (expenses) -2.1 -1.1 +1.0 +50% Income tax -0.5 -0.7 -0.1 -28% Net income 0.5 -6.8 -7.3 — Adjusted net income 2.5 2.9
Slide 43: Severočeské doly impairment reflects deterioration of market conditions for coal power
IMPAIRMENT OF THE ASSETS OF THE MINING COMPANY SEVEROČESKÉ DOLY REFLECTS THE DETERIORATION OF MARKET CONDITIONS FOR THE COAL POWER INDUSTRY IN Q2 The spread between market prices for electricity and emission allowances for years 2023–2025 has almost halved since the beginning of the year.* Electrici
Slide 44: CEZ Group operating revenues for H1 by segments and countries
CEZ GROUP OPERATING REVENUES FOR H1, BY MAIN BUSINESS SEGMENTS AND INDIVIDUAL COUNTRIES GENERATION (CZK bn) H1 2020 H1 2021 Change % Czechia 50.3 52.8 +2.5 +5% Germany 0.4 0.3 -0.1 -21% Operating Revenues for H1 2021 Poland 3.2 3.0 -0.2 -7% Romania 2.0 1.2 -0.9 -43% Other states 1.1 1.2 +0.1 +13% As
Slide 45: Refining the financial outlook for 2021
REFINING THE FINANCIAL OUTLOOK FOR 2021: EBITDA CZK 58–60 BN, ADJUSTED NET PROFIT CZK 18–20 BN EBITDA Main Year-On-Year Effects (2021 vs. 2020): CZK bn 64.8 Higher realization prices of electricity 58–60 7.6 3 Stabilization of the Sales segment after the impacts of COVID-19 on corporate customer
Slide 46: Estimated year-on-year change in strategic assets EBITDA 2021 vs. 2020
ESTIMATED YEAR-ON-YEAR CHANGE IN STRATEGIC ASSETS EBITDA 2021 VS. 2020 IN INDIVIDUAL BUSINESS SEGMENTS (CZK bn) STRATEGIC ASSETS (Total Year-On-Year Unchanged to Decrease up to CZK 2 bn) EBITDA 2020 GENERATION Segment Trading — Lower gains from commodity trading -2.0 to -0.5 Nuclear Facilities -0.2
Slide 47: Annexes
ANNEXES Selected Events in the Past Quarter Shareholders’ Meeting Development of shareholder value Selected events in individual segments Financial Performance and Investments in 2021 Q2 EBITDA of Strategic Assets—by segment Q2 Net profit including rationale for impairments Operating rev
Slide 48: Group's net debt declined in H1 2021
GROUP'S NET DEBT DECLINED IN H1 2021 BY ALMOST CZK 43 BN, CZK 15 BN OF WHICH IN Q2 Net debt Net debt as at December Interest, Other Acquisition of Divestments/ as at June 30, 31, 2020 EBITDA income tax operating effects fixed assets acquisitions Other 2021 Decrease in Net Debt by CZK 42.9 bn 100.6 1
Slide 49: Capital expenditures (CAPEX) in H1 by segment
CAPITAL EXPENDITURES (CAPEX) IN H1 BY SEGMENT CAPEX (CZK bn) H1 2020 H1 2021 Q2 2020 Q2 2021 GENERATION Segment 4.0 3.5 2.5 2.1 Thereof: Nuclear fuel procurement 1.1 1.2 0.5 0.7 MINING Segment 0.9 0.8 0.7 0.5 DISTRIBUTION Segment 5.0 5.7 3.3 3.5 SALES Segment 0.4 0.6 0.3 0.4 Total strategic assets 1
Slide 50: Debt position and structure as at June 30, 2021
DEBT POSITION AND STRUCTURE AS AT JUNE 30, 2021 CEZ GROUP MAINTAINS A STRONG LIQUIDITY POSITION Utilization of Short-Term Lines and Available Committed Bond Maturity Profile (as at Jun 30, 2021) Credit Facilities* (as at Jun 30, 2021) CZKKčbn mld. 25 Undrawn, committed 20 CZK 34.4 bn drawn 15 Availa
Slide 51: Currency and commodity hedging of electricity generation in Czechia for 2022–2025
CURRENCY AND COMMODITY HEDGING OF ELECTRICITY GENERATION IN CZECHIA FOR 2022–2025 Currency hedging of expected revenues from electricity generation in Czechia for 2022–2025 (as at Jun 30) 2022 2023 2024 2025 Total currency hedges (natural & transactional) as at Jun 30, 2021 97% 90% 83% 72% Natural c
Slide 52: Annexes
ANNEXES Selected Events in the Past Quarter Shareholders’ Meeting Development of shareholder value Selected events in individual segments Financial Performance and Investments in 2021 Q2 EBITDA of Strategic Assets—by segment Q2 Net profit including rationale for impairments Operating rev
Slide 53: 2021 electricity hedges negatively influenced by lower prices during 2020
2021 ELECTRICITY HEDGES WERE NEGATIVELY INFLUENCED BY LOWER PRICES DURING 2020 DUE TO COVID-19. ELECTRICITY AND EUA PRICES IMPROVED ONLY AT THE END OF 2020 Development of market prices of electricity and emission allowances in Germany (January 1 – Dec 31 year before delivery) EEX: Cal20 BL, Cal21 BL
Slide 54: Market developments
MARKET DEVELOPMENTS CZK CEZ shares CO2 emissions allowances 700 EUR/t (to be delivered in December 2022) 60 600 50 40 500 30 400 20 300 10 Electricity USD/t Coal and gas EUR/MWh EUR/MWh (BL to be delivered in 2022 and 2023) 130 110 75 70 65 60 75 55 55 50 45 40 20 0 35 Coal front month Coal forward
Slide 55: Electricity balance (GWh)
Electricity balance (GWh) Index Q1 - Q2 2020 Q1 - Q2 2021 2021/2020 Electricity procured 26,783 25,011 -7% Generated in-house (gross) 29,805 27,724 -7% In-house and other consumption, including pumping in pumped-storage plants -3,022 -2,713 -10% Sold to end customers -16,984 -16,910 -0% Sold in the
Slide 56: Electricity balance (GWh) by segment
Electricity balance (GWh) by segment Q1 - Q2 2021 Generation Distribution Sale Eliminations CEZ Group GWh +/- GWh +/- GWh +/- GWh +/- GWh +/- Electricity procured 24,815 -7% 0 - 197 +10% 0 - 25,011 -7% Generated in-house (gross) 27,519 -7% 0 - 205 +11% 0 - 27,724 -7% In-house and other consumption,
Slide 57: Electricity balance (GWh) by country
Electricity balance (GWh) by country Q1 - Q2 2021 Czechia Poland Romania Bulgaria Germany Others Eliminations CEZ Group GWh +/- GWh +/- GWh +/- GWh +/- GWh +/- GWh +/- GWh +/- GWh +/- Electricity procured 23,555 -5% 948 -5% 388 -47% 3 -5% 117 -29% 0 - 0 - 25,011 -7% Generated in-house (gross) 26,101
Slide 58: Definitions and Calculations of Indicators Unspecified in IFRS
Definitions and Calculations of Indicators Unspecified in IFRS In accordance with ESMA guidelines, ČEZ provides detailed information on indicators that are not reported as standard in IFRS financial reporting framework or the components of which are not directly available from financial statements a
Slide 59: Components used in calculation of individual indicators
Most of the components used in the calculation of individual indicators are directly shown in financial statements. The components of calculations that are not included in the financial statements are usually shown directly in a company’s books and are calculated as follows: Highly Liquid Financial