Latest news with #CZK
Yahoo
22-05-2025
- Automotive
- Yahoo
Skanska builds the bypass I/12 near Prague, Czechia, for CZK 3.8 billion, about SEK 1.7 billion
STOCKHOLM, May 22, 2025 /PRNewswire/ -- Skanska has signed a contract with National Highway Authority of the Czech Republic to build the bypass I/12 near Prague, Czechia. The contract is worth CZK 3.8 billion, about SEK 1.7 billion, which will be included in the order bookings for Europe for the second quarter of 2025. The project "I/12 Běchovice-Úvaly" will create a safe and high-capacity 12.6 kilometer, four-lane road, including 23 bridges and six multi-level crossings. This new bypass of the districts in the east of Prague will help the flow and safety by diverting transit traffic away from populated areas. Inside populated areas, this will reduce the burden on the environment and residents. Work will start in July 2025 and the completion is scheduled for end of 2027. For further information please contact:Ondřej Šuch, Head of External Affairs, Skanska Central Europe, tel +420 725 628 760Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94 Direct line for media, tel +46 (0)10 448 88 99 This and previous releases can also be found at This information was brought to you by Cision The following files are available for download: 20250522 CZ bypass Prague Image Bechovice Uvaly View original content: SOURCE Skanska Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
CEZ AS (XPRA:CEZ) Q1 2025 Earnings Call Highlights: Revenue and EBITDA Growth Amidst Net Income ...
Operating Revenue: 93.4 billion CZK, a 7% increase year-on-year. EBITDA: 43 billion CZK, a 7% increase. Net Income: 12.8 billion CZK, a 6% decline. CapEx: Nearly 7 billion CZK, a 6% decline. Dividend Proposal: 47 CZK per share, 80% of adjusted net income. EBITDA Guidance for 2025: Increased to 127-132 billion CZK. Net Income Guidance for 2025: Maintained at 25-29 billion CZK. Distribution Growth: Over 50% year-on-year, driven by inclusion of GasNet and increased investments. Sales Segment Growth: Almost 90% year-on-year, influenced by lower cost deviations and colder winter. Gas Volume Growth: 12% increase due to colder winter. Electricity Volume Growth: 0.7% increase, indicating economic recovery. Renewable Generation Decline: 39% decrease due to dry winter. Coal Generation Increase: 24% increase due to colder winter. Hedging Update: 2/3 sold for 2026, with average achieved price of 94. Warning! GuruFocus has detected 10 Warning Sign with XPRA:CEZ. Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. CEZ AS (XPRA:CEZ) reported a 7% year-on-year increase in operating revenue, reaching 93.4 billion Czech crowns. The company's EBITDA also improved by 7%, reaching 43 billion Czech crowns. CEZ AS (XPRA:CEZ) successfully disposed of its Polish power plants, achieving a profit of 1 billion Czech crowns. The company signed a contract with the Czech government to transfer 80% of shares in a new nuclear project, which will not impact its balance sheet with future debt. CEZ AS (XPRA:CEZ) proposed a dividend of 47 Czech crowns per share, representing 80% of adjusted net income, indicating strong financial health. Net income declined by 6% compared to the first quarter of 2024, reaching 12.8 billion Czech crowns. CapEx saw a slight decline of 6%, reaching almost 7 billion Czech crowns. The company faced a negative impact of 5.5 billion Czech crowns due to declining power prices. Depreciation and amortization increased by 66%, driven by accelerated depreciation of coal assets and inclusion of gasnet. The generation segment experienced a decline of 5.5 billion Czech crowns, mainly due to price effects and lower output from renewables. Q: Can you explain the increase in depreciation and amortization guidance and its impact on net income? A: Martin Novak, CFO, explained that the increase is due to higher depreciation on gas net assets and nuclear assets, which was underestimated. Despite the increase in EBITDA, the windfall tax impacts net income, particularly for power generators like CEZ, which is why the net income guidance remains unchanged. Q: Are there any tangible plans for nationalizing CEZ under a different government? A: Pavel Cyrani, Vice Chairman, stated that discussions about increasing government ownership are part of the election campaign, and it's difficult to comment on the rationale. The future strategy will depend on the election results and the new government's plans. Q: With the sale of the new nuclear project, where do you see the best opportunities to reinvest freed-up CapEx? A: Martin Novak noted that the sale preserves funds for planned investments rather than freeing up new funds. CEZ plans to invest heavily in distribution, renewables, and prolonging the life of current nuclear assets, with a focus on maintaining a balanced debt capacity. Q: What is the current average power price and volume for this year? A: Martin Novak stated that the current estimate is between 120 and 125 per megawatt hour, as included in their financial guidance. Q: What are the implications of the nuclear project disposal on liabilities and operational roles? A: Martin Novak clarified that the contingent equity liability of 1.7 billion is now removed. CEZ retains a 20% stake with a contract ensuring a 10% return on equity, with no significant risk involved. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-04-2025
- Politics
- Yahoo
Man with Ukrainian flag attacked at populist gathering in Czechia
Czech police are investigating an attack on a young man with a Ukrainian flag that took place last week during an event held by the right-wing populist parties SPD, Trikolora, Svobodny and PRO in Brno. Source: European Pravda with reference to Brnensky Denik, a Czech news platform focussing on news from Brno Details: The incident took place on 24 April in the afternoon. As can be seen in the video posted on X (Twitter), several participants of the gathering verbally attacked a group of people, one of whom was holding a Ukrainian flag, urging them to return to Ukraine. They then tried to take the flag away from the young man. During the scuffle, another man knocked the young man with the flag down. After that, several other people joined the incident. The victim reported the incident to the police. Quote from the police spokesman Pavel Schwab: "This person contacted us this morning [Monday 28 April - ed.] to report the incident, we are investigating it and will determine whether it is a criminal offence." SPD leader Tomio Okamura told the iDnes website that the attack took place after a political gathering ended and claimed that the young man attacked first. "On the empty streets of Brno, a Ukrainian activist was the first to elbow a defenceless Czech woman. A man then stood up for the woman. Of course, I condemn any violence," Okamura said. The attack was condemned on X by the human rights ombudsman Klara Šimáčková-Laurenčiková. "The most disgusting manifestation of aggression and prejudiced hatred. I will immediately contact the police. I believe in fair punishment," she said. The news website notes that during the demonstration in front of Brno Town Hall, politicians made harsh statements against the current government, "black migrants", LGBT people and Ukrainians. Okamura, in particular, claimed that Petr Fiala's cabinet had "allocated 232 billion CZK (US$1.4 billion) to Ukrainian refugees at the expense of Czech pensioners". He also promised to deport refugees and "revoke the residence permits of all Ukrainians who receive benefits here and are not working". The leader of the PRO party, Jindřich Rajchl, said that he "agrees with Donald Trump that Ukraine is to blame for the war, that it did not fulfil and did not want to fulfil the Minsk agreements". "I agree with Donald Trump that Volodymyr Zelenskyy is a dictator," Rajchl said. Background: Czechs trust Ukrainian President Volodymyr Zelenskyy more than Kremlin leader Vladimir Putin, while Slovaks trust the Russian ruler more. In early February, Czech President Petr Pavel signed an amended law to extend protection to refugees from Ukraine, criminalise unauthorised activities in favour of a foreign state, and tighten conditions for Russian applicants for Czech citizenship. Support Ukrainska Pravda on Patreon!
Yahoo
08-04-2025
- Business
- Yahoo
Bivial AG Expands Global Payment Capabilities with Dedicated CZK & SGD Accounts
ZUG, Switzerland, April 8, 2025 /PRNewswire/ -- Bivial AG, a leading Financial Institution, has announced yet another expansion of its international payment capabilities with the launch of dedicated CZK (Czech Koruna) and SGD (Singapore Dollar) Accounts. This addition empowers digital companies, including online merchants, ad networks, marketplaces, and regulated online services, to seamlessly collect and disburse CZK and SGD payments worldwide via their Corporate Bivial Account. With Bivial's Swiss IBAN Accounts, businesses can transact through SEPA and SWIFT across more than 160 countries and in 90+ currencies via the Bivial Dashboard and APIs. These new international accounts are ideal for companies looking to grow their global reach through cross-border transactions. "As part of our commitment to enhancing global payment solutions, adding dedicated CZK and SGD Accounts provides our clients with even greater flexibility and control over their international transactions. Now, they can store funds, accept payments, and send payouts in CZK and SGD, alongside Bivial's extensive cross-currency payments and FX network," says Martynas Bieliauskas, Bivial CEO. These new accounts join Bivial's existing lineup of 17 supported currencies—CHF, EUR, USD, GBP, AED, AUD, CAD, DKK, HKD, HUF, JPY, MXN, NOK, PLN, SEK, TRY, and ZAR—giving businesses even more flexibility to manage international transactions. Bivial continues to deliver secure and cost-effective cross-border payments and FX capabilities while enabling its clients to manage international transactions efficiently through Bivial's all-in-one dashboard. More information at About Bivial AG. Bivial AG, formerly Klarpay AG, is a deposit-taking financial institution authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA) under the Swiss Federal Banking Act, Article 1b, offering modern Swiss accounts and cross-border payment solutions for digital businesses. Headquartered in Zug, Switzerland, Bivial AG specialises in offering online businesses access to IBAN accounts in multiple currencies, global payment acceptance, and digital disbursement solutions. As the first Swiss-licensed fintech company to work exclusively with e-commerce, digital entrepreneurs, and social media influencers, Bivial seeks to empower digital businesses through borderless, scalable, bespoke business accounts and payment solutions. ContactBivial AGmarketing@ Logo: View original content to download multimedia: SOURCE Bivial AG Sign in to access your portfolio
Yahoo
06-04-2025
- Business
- Yahoo
Czech beer culture eyes UNESCO listing as pubs take hit
Going to a pub several times a week to meet friends, media consultant Gabriela Galetkova hopes Czech beer culture -- which is taking a hit as bar visits dip -- will be internationally recognised. "I won't buy beer to drink at home. For me, Czech beer culture is about meeting people in a typical Czech pub," the 54-year-old told AFP in a Prague bar serving the trademark Pilsner lager with thick froth. While many beer drinkers in the central European country are turning away from pubs, often to save money, Czech beer professionals are seeking listing by UNESCO among the world's cultural heritage as a possible boost. Czech beer culture deserves a place on the UN agency's intangible heritage lists owing to its "global reputation", said Tomas Slunecko, head of the Czech Beer and Malt Association. "Wherever you go in Europe or the world, people ask you about Czech beer," the former diplomat told AFP. If Czech beer culture gets listed by UNESCO, it will be the world's second after Belgium, listed in 2016 -- which according to Slunecko "really boosted the reputation of local beer making, not only inside Belgium but also abroad". The Czech culture ministry already put it on the national list in January -- a necessary condition for international recognition -- while Slunecko and others are embarking on promoting their bid. - No longer cheaper than water - The Czech beer-making tradition is over a thousand years old and beer is omnipresent in Czech history and culture, while local lagers have made Czech beer-makers famous and inspired brewers worldwide. The country has more than 550 breweries including 500 small ones that have emerged during a boom over the past two decades. Czech breweries employ 65,000 people, make around 20 million hectolitres of beer a year and export roughly a quarter, mainly to other EU members such as Germany, Poland, Slovakia and Hungary. But while the tradition is rich and colourful and the reputation solid, Czech drinkers are shirking their pub duty. Beer consumption in the country of 10.9 million retained a world-leading level of 128 litres per person in 2023 but is down from 143 litres a decade ago, said Slunecko. Beer prices have doubled over the past decade on tax hikes and higher input costs, and the popular tipple is no longer cheaper than water in Prague pubs, where a pint of Pilsner Urquell costs around CZK 70 ($3). This has gradually led drinkers to turn to supermarkets for cheaper bottled beer, industry data have shown. The Covid-19 pandemic made things worse as it shuttered pubs and closed borders for months, sending more drinkers to their living room sofas and reducing the number of foreign tourists who drink a hefty portion of the beer sold in Czech pubs. The Czech Chamber of Commerce said that 15 percent of local venues closed and another 15 percent changed hands due to the pandemic. Many small towns and villages now lack a place to go for a pint. "The share of beer consumed in pubs and at home used to be 50-50. At present pubs only make up 30 percent," Slunecko said. Many Czechs also opt for a healthier lifestyle or prefer to meet their friends online, he added. "The decline is a trend that we can see elsewhere in Europe," said Slunecko. - 'Social network' - Meeting people is the main reason why Czechs go to pubs, said sociologist Jiri Vinopal, citing his continuous research running since 2004. "Czech beer culture is something that helps people connect and keeps society together, create an identity, whether locally or at the national level," he added. Slunecko said women drinkers could help end the downtrend as an increasing number now go to pubs, attracted by their growing standard, variety of drinks on offer and quality food. "It's about quality replacing quantity. I think the cultured environment and the broad offer is a way to win drinkers back," Slunecko said, likening pubs to "a social network". "A pub is a pleasant place to meet. And there's nothing wrong about drinking beer," he said. frj/jza/rl/rjm Sign in to access your portfolio
