The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of CZK48.5 billion for the first half of 2008, a 27% increase compared to the EBITDA for the same period of 2007. Operating revenues were CZK90.42 billion for the first half of 2008, an 8.7% increase compared to operating revenues for the same period of 2007.
Labor productivity growth and realized divestments led to a further reduction in the number of CEZ Group employees. At the end of the first half of 2008 the number was 29,093, which represented a year-on-year fall of more than 1,559 employees.
Martin Roman, chairman and CEO of CEZ, said: The renewal of our domestic coal-fired power plants is gaining pace; we have already invested CZK12 billion and the realization of these investments does not deviate from the approved schedules. Owing to the climate-energy packet adopted by the EU, we are updating our plans so that new measures will lead to a new energy mix based mainly on nuclear, gas and renewable sources.
