CEZ estimates Romanian assets for sale at over EUR 1 bln
Czech utility group CEZ has estimated the aggregated equity of its Romanian subsidiaries, which are up for sale, at EUR 1.07 billion, according to a presentation prepared for prospective bidders and consulted by Economica.net.
Romania Insider · Journalist
· Updated · 1 min read
Czech utility group CEZ has estimated the aggregated equity of its Romanian subsidiaries, which are up for sale, at EUR 1.07 billion, according to a presentation prepared for prospective bidders and consulted by Economica.net.
The Czech group thus expects to get a minimum price of EUR 1 bln for the Romanian assets, the Romanian publication concluded.
The operational profits (EBITDA) generated by the companies subject to sale is CZK 3.3 bln (EUR 124 million) while the aggregated net profits are significantly lower, namely CZK 1 bln - or EUR 37.6 mln.
The two wind farms (347.5MW+252.5MW) account for nearly two-thirds of the total value of the CEZ assets in Romania: EUR 654 mln combined equity. They also generate half of the aggregated EBITDA (EUR 58 mln).
The stake in the electricity distribution company CEZ Oltenia, which produces EUR 50.8 mln EBITDA, is valued at EUR 385 mln. The three smaller CEZ companies in Romania are CEZ Vanzare (electricity supply, EUR 18.6 mln), TMK Hydroenergy Power (22MW micro hydropower plants, EUR 9.5 mln) and the holding company, valued at EUR 8.25 mln.
Romanian state-controlled groups Electrica, Hidroelectrica and SAPE are reportedly in the race for the CEZ local assets.
(Photo source: Facebook/CEZ Romania)
