CEZYY - CEZ a. s. (CEZYY) Q4 2023 Earnings Call Transcript
2024-03-21 16:54:03 ET
CEZ, a. s. (CEZYY)
Q4 2023 Results Conference Call
March 21, 2024 11:00 AM ET
Company Participants
Martin Novak - CFO, Deputy CEO, Operations & Executive Director
Pavel Cyrani - Vice Chairman, Deputy CEO, Strategic Development and Chief Sales & Strategy Officer
Conference Call Participants
Anna Webb - UBS
Arthur Sitbon - Morgan Stanley
Robert Maj - Ipopema
Piotr Dzieciolowski - Citi
Petr Bartek - Erste Bank
Presentation
Operator
Hello everyone. This is CEZ Group Full Year 2023 Conference Call. It's my pleasure to welcome today's speakers, Martin Novak, Chief Financial Officer, and Pavel Cyrani, Chief Strategy Officer.
I will now hand over to Martin.
Martin Novak
Good afternoon, good morning, everybody. Let me cover first two sections and then I hand over to Pavel. Looking at the slide number three, you can actually see our financial highlights. Our EBITDA reached CZK124.8 billion. We exceeded actually our November 9 outlook, which was CZK115 billion to CZK220 billion positive impacts or positive changes between our outlook from November 9. And the real numbers for 2023 include trading segments, CZK3.5 billion better results, CZK2 billion are better results from brook trading, CZK1.5 billion is actually reevaluation of derivatives that the HR for 2024 and later. We also had better mining segment numbers by CZK700 million compared to our estimate and revenues from ancillary services and sales of heat in Czech Republic of 1 billion.
Our adjusted that income was estimated at CZK33 billion to CZK37 billion, and we actually achieved CZK34.8 billion. On next slide, you can see achieved just in the income of CZK30.8 billion. Actually, is most mainly, or 74% of it is actually from emission free activities and only 26% is generation from emission facilities and mining. The level of our income, when we actually take into consideration, payout ratio of 60% to 80% of adjusted net income, shows that we would be able to pay CZK39 to CZK50 to per share dividend, or CZK21 billion to CZK28 billion dividend in total. ...
CEZ, a. s. (CEZYY) Q4 2023 Earnings Call Transcript