CEZ profit down on drop in prices, nuclear output

Czech state-run power group CEZ said on Tuesday that net profit for 2015 fell by eight percent from 2014 on a drop in energy prices and lower production at its nuclear plants. Europe's second largest power exporter CEZ said in a statement its net profits tallied at 20.5 billion koruna (758 million euros, $842 million) in 2015 against earnings of 22.4 billion koruna in 2014.
The company raised sales to 210.2 billion koruna from 202 billion koruna despite a drop in output at its two nuclear plants, Dukovany and Temelin, caused by unscheduled shutdowns at Dukovany and longer-than-expected shutdowns at Temelin.
CEZ, which is 70 percent controlled by the Czech state, produced 60.9 terawatt hours of power in 2015, a drop of three percent from 2014.
Output at its nuclear plants fell by 11 percent against 2014.
Listed in the Czech Republic, Germany and Poland, CEZ employs almost 26,000 people.