CEZ Bulgaria: 'Non-Consolidated Net Profit Rose to BGN 20.8M' in the 1st Half of 2017

CEZ Distribution Bulgaria, majority owned by Czech power utility group CEZ, said on Monday its non-consolidated net profit rose to BGN 20.8 million in the first half of 2017, from BGN 11.8 million in the like period of 2016, SEE News Reports.

Total revenues rose to BGN 216.6 million  in the January-June period, from BGN 195.6 million in the prior year, CEZ Distribution said in a bourse filing.

Bulgarian media reported In May that CEZ Group had invited four candidates interested in acquiring its assets in Bulgaria to submit binding bids and bank guarantees for their price offers.

CEZ Group assets in Bulgaria include CEZ Distribution Bulgaria, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.

CEZ Distribution Bulgaria is 67%-owned by CEZ Group. It operates in the Sofia region and parts of western and northern Bulgaria and is licensed for the transmission and distribution of electricity and the operation of the distribution grid.

CEZ Distribution Bulgaria shares were traded flat at BGN 235.0 in a volume of just 2 units as of 14:20 CET on the stock exchange in Sofia.