Q1 2023 CEZ as Earnings Call Transcript
Quarter 1, 2023 conference call. It's my pleasure to invite here Martin Novak, Chief Financial Officer; Pavel Cyrani, Chief Sales and Strategy Officer. They will start with the presentation, and then I will give a room to your questions. Now all the participants are in listening only mode and we can start with the presentation right now. I'm handing over to Martin.
Good afternoon -- good morning. So let's start on Slide 3 of our presentation with our financial highlights. So you can see our operating revenues went up by 23%, mainly driven by growth of power prices year-on-year. Our EBITDA is down by 26% and it reached CZK 32.5 billion and net income and adjusted net income, CZK 10.8 billion which is down 60%. Our financial outlook for the year is being narrowed. So we are actually narrowing down our range of EBITDA and also adjusted net income. So our new estimate actually CZK 105 billion to CZK 115 billion. In the past, it was CZK 105
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