Why did CEZ raise its 2026 adjusted net profit outlook, and what specific factors linked to the Middle East conflict contributed to this revision?

CEZ raised its 2026 adjusted net profit outlook to 30–34 billion Czech crowns (up from 27–31 billion crowns) due to higher electricity prices and increased generation driven by the Middle East conflict. Specifically, the conflict led to a blockade of the Strait of Hormuz — a critical global oil and gas shipping route — which in turn caused CEZ to expect higher realised electricity prices, greater utilisation of its coal-fired power plants, and increased volumes of coal mining.

What were CEZ's first-quarter 2025 financial results, and what was the main driver behind the rise in adjusted net profit?

In the first quarter of 2025, CEZ reported an adjusted net profit of 13.5 billion Czech crowns — exceeding the Reuters poll average estimate of 12.3 billion crowns — while EBITDA fell 18% year-on-year to 35.3 billion crowns. The key driver of the higher adjusted net profit was the end of a windfall tax; however, lower electricity prices and reduced generation partially offset this gain.

Czech energy utility CEZ lifts 2026 profit outlook as Middle East conflict raises prices

May 13, 2026

Czech energy utility CEZ raised its 2026 profit forecast due to higher electricity prices and coal demand driven by Middle East tensions. First-quarter adjusted net profit rose 6% to 13.5 billion crowns amid geopolitical supply shocks.

reuters

2026-05-13

Czech energy utility CEZ lifts 2026 profit outlook as Middle East conflict raises prices

Czech energy utility CEZ lifts 2026 profit outlook as Middle East conflict raises prices

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