CEZ, a.s: Energy and Utilities Company Profile, SWOT & Financial Report by ICDResearch

VIEWS: 6 PAGES: 38

More Info
									CEZ, a.s.

_________________________________________________________________________________



CEZ, a.s.                                                                   Financial Snapshot

                                                                            Operating Performance
Fast Facts
                                    Duhova 2/1444, Prague 4, 140 53,Czech   The company reported revenue of US$10,400.00
Headquarters Address
                                    Republic                                million during the fiscal year 2010 (2010). The
                                                                            company's revenue grew at a CAGR of 12.03%
Telephone                           + 420 2 11041111
                                                                            during 2006–2010, with an annual growth of 1.11%
                                                                            over 2009. In 2010, the company recorded an
Fax                                 + 420 2 11042001                        operating margin of 34.14%, as against 36.39% in
                                                                            2009.
Website                             www.cez.czcsuvod.html

Ticker Symbol, Stock Exchange       CEZ, Prague Stock Exchange              Revenue and Margins

Number of Employees                 32,627

Fiscal Year End                     December

Revenue (in US$ million)            10,400.00

Revenue (in CZK million)            198,848.00




SWOT Analysis
                                                                            Return on Equity
Strengths                           Weaknesses
                                                                            The company recorded a return on equity (ROE) of
Diversified Fuel Source             Increase in operating expenses          23.86% for the fiscal year 2010, as compared to its
                                                                            peers, MVV Energie AG (Ticker: MVV1), Hera S.p.A.
                                                                            (Ticker: HER) and ENERGOAQUA, a.s. (Ticker:
Market leadership                   Substantial debt                        BAAENRGA), which recorded ROEs of 12.73%,
                                                                            6.79% and 5.01% respectively. Furthermore, the
Strong revenue growth                                                       company reported an operating margin of 34.14% in
                                                                            2010.
Opportunities                       Threats
                                                                            Return on Equity
Increasing demand for electricity   Industry consolidation

Strategic growth initiatives        Stringent regulations

                                    Volatility in price level

                                    Weather conditions and seasonal
                                    demand




                                                                            Liquidity Position

                                                                            The company reported a current ratio of 0.95 in 2010,
                                                                            as compared to its peers, MVV Energie AG, Hera
                                                                            S.p.A. and ENERGOAQUA, a.s., which recorded
                                                                            current ratios of 1.00, 1.25 and 3.92 respectively. As
                                                                            of December 2010, the company recorded cash and
                                                                            short-term investments of worth US$2,017.00 million,
                                                                            against US$773.33 million current debt. The company
                                                                            reported a debt to equity ratio of 0.74 in 2010 as
                                                                            compared to its peers, MVV Energie AG, Hera S.p.A.
                                                                            and ENERGOAQUA, a.s., which recorded debt to
                                                                            equity ratios of 1.10, 1.57 and 0.00 respectively.




___________________________________________________________________________________________

CEZ, a.s. - SWOT Profile                                                                                            Page 1
CEZ, a.s.

_________________________________________________________________________________


TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................12
      2.2.4       Solvency ..........................................................................................................................................................13
      2.2.5       Valuation ..........................................................................................................................................................14
    2.3       Competitive Benchmarking ..................................................................................................................................15
      2.3.1       Market Capitalization .......................................................................................................................................15
      2.3.2       Efficiency ..........................................................................................................................................................16
      2.3.3       Turnover – Inventory and Asset .......................................................................................................................17
3     Mergers & Acquisitions and Partnerships ........................................................................................... 18
    3.1       M&A and Partnerships Strategy ...........................................................................................................................18
4     Recent Developments ........................................................................................................................... 21
5     SWOT Analysis ...................................................................................................................................... 23
    5.1       SWOT Analysis - Overview ..................................................................................................................................23
    5.2       Strengths ..............................................................................................................................................................
								
To top