Energy generation: 45%
Sales and trading: 35%
Distribution: 20%

Top 3 markets:

1. Czech Republic: 60%
2. Germany: 15%
3. Poland: 10%

CEZ, a. s. generates the majority of its revenue from energy generation, followed by sales and trading, and distribution. The Czech Republic remains the most important market for the company, attributed to its strong local presence and historical roots. Germany and Poland are also significant markets that have gained importance through strategic expansions and investments in renewable energies.

Production sites of CEZ, a. s.:

1. Czech Republic: Main production site
2. Poland: Participation in energy generation
3. Romania: Operation of wind farms
4. Bulgaria: Participation in energy generation and distribution

CEZ, a. s. is a leading energy company in Central and Eastern Europe, mainly operating in the Czech Republic. The company operates several nuclear power plants, coal-fired power plants, and renewable energy facilities there. In addition, CEZ is active in other European countries, especially in Poland, Romania, and Bulgaria, where it has invested in energy generation and distribution. This diversification allows CEZ to expand its market presence and benefit from various energy sources.

Investments in Renewable Energies: 30% of the investment budget (2025)
Reduction of CO2 Emissions: Target of 50% by 2030

CEZ, a. s. is pursuing a strategy that is strongly focused on expanding renewable energies. The company plans to invest approximately 30% of its investment budget in renewable energy projects by 2025 to reduce its dependence on fossil fuels and achieve its sustainability goals.

Another key focus of the growth strategy is the reduction of CO2 emissions. CEZ has set a goal to reduce emissions by 50% by 2030. This is intended to be achieved through the expansion of wind and solar energy as well as investments in innovative technologies for energy efficiency.

In addition, CEZ plans to strengthen its market presence in Central and Eastern Europe to benefit from the increasing demand for clean energy in these regions. This includes both organic growth and potential acquisitions of companies operating in the field of renewable energies.

Main imported raw materials: Uranium, coal, natural gas

Countries of origin:

• Uranium: Kazakhstan, Canada
• Coal: Poland, Russia
• Natural gas: Norway, Russia

CEZ, a. s. is a significant energy provider in Central Europe and imports various raw materials to ensure its energy production. Uranium is mainly sourced from Kazakhstan and Canada, as these countries are among the largest uranium producers worldwide. Coal is predominantly imported from Poland and Russia to supply the coal-fired power plants.

Natural gas is another important raw material for CEZ, imported from Norway and Russia. These countries are significant suppliers of natural gas to Europe, and CEZ utilizes these resources to ensure energy supply security. Diversifying suppliers helps CEZ minimize the risk of supply interruptions.

Market share in the Czech Republic: approx. 70% (2023)
EBITDA margin: 35% (2023)
Return on equity: 12% (2023)

CEZ, a. s. is one of the largest energy companies in Central and Eastern Europe and holds a dominant market share in the Czech Republic. The high market share of about 70% gives the company a significant competitive advantage, especially in its home market.

The EBITDA margin of 35% shows that CEZ operates efficiently and achieves above-average profits compared to many competitors in the energy industry. This profitability enables the company to invest in new technologies and renewable energies, which can strengthen its market position in the long term.

Additionally, the return on equity of 12% indicates that CEZ is able to generate a solid return on invested capital, pointing to effective resource utilization and strong financial health. These factors together enhance CEZ's competitive advantage in the energy sector.

Institutional Investor Share: 70% (estimated, 2025)
Insider Buys/Sells: No significant changes in the last year (2024)

The institutional investor share in CEZ, a. s. is estimated to be around 70%. This reflects the confidence of large investors in the stability and growth potential of the company.

Regarding insider buys and sells, there have been no significant changes in the last year. This suggests that the management and other insiders do not expect any major changes in the company's valuation or strategy. Such stability can be positive for the company's perception among investors.

Market share of CEZ, a. s.: Estimate 12% (2025)

Main competitors and their market share:

1. E.ON SE: 15%
2. Enel S.p.A.: 14%
3. EDF Group: 13%
4. CEZ, a. s.: 12%
5. RWE AG: 11%
6. Iberdrola S.A.: 10%
7. Vattenfall AB: 9%
8. Engie SA: 8%
9. Fortum Oyj: 5%
10. Statkraft AS: 3%

Moat of CEZ, a. s.:

CEZ, a. s. has a moderate moat, mainly supported by its strong market position in Central and Eastern Europe, especially in the Czech Republic. The company benefits from diversified energy generation, including both conventional and renewable energies. This diversification provides some protection against market volatility and regulatory changes.

However, compared to its competitors, CEZ has a less pronounced international influence. Companies like E.ON and Enel have a stronger moat due to their larger geographic presence and extensive investments in renewable energies. These companies benefit from economies of scale and a broader customer base, giving them a competitive advantage.

Overall, CEZ has a solid but not outstanding moat compared to larger international energy providers. The competitive advantage could be further strengthened through increased investments in renewable energies and expansion into new markets.

Revenue growth: 8.5% (2024) EBITDA margin: 32% (2024) Investments in renewable energies: 1.2 billion EUR (2024)

CEZ, a. s. has recorded solid revenue growth of 8.5% in recent years, attributed to successful expansion and modernization of its energy infrastructure. The EBITDA margin of 32% demonstrates strong operational efficiency and the ability to control costs while increasing revenues.

The company has made significant investments totaling 1.2 billion EUR in renewable energies, indicating a strategic focus on sustainable energy generation. These investments could help CEZ position itself in a changing energy market and secure long-term competitive advantages.

Overall, these factors suggest that CEZ is well positioned to achieve future growth. The strategic focus on renewable energies and strong operational performance could make the stock an attractive investment, especially for investors interested in sustainable energy projects.

Dividend Yield: 5.2% (2024)

CEZ, a.s., a leading energy company in the Czech Republic, is known for its regular dividend payments. In 2024, the dividend yield was 5.2%, indicating an attractive payout policy.

The reliability of CEZ's dividend payments is supported by its stable earnings and strong market position in the energy sector. Historically, CEZ has pursued a consistent dividend policy, strengthening investor confidence. Analysts expect CEZ to maintain a similar dividend policy in the coming years, provided that no significant market changes or regulatory interventions occur.