CEZ Q2 2025 results: net income up 10%, EBITDA falls

Czech energy group CEZ reported a 10% year-on-year increase in net income for the second quarter of 2025, even as EBITDA declined by 12%, according to preliminary H1 2026 presentation slides published on Tuesday.

The company attributed the net income growth to improved operational efficiencies and lower energy input costs, which offset the drop in EBITDA. EBITDA, a key measure of operational profitability, fell to CZK 18.2 billion ($730 million) from CZK 20.7 billion in the same period last year.

Net income rose to CZK 12.4 billion, up from CZK 11.3 billion in Q2 2024. The results reflect broader trends in Central Europe’s energy sector, where utilities have faced volatile wholesale power prices amid shifting demand and regulatory pressures.

CEZ, majority-owned by the Czech state, remains focused on expanding its renewable energy portfolio and grid investments to support long-term growth. The company did not provide detailed segment breakdowns or forward guidance in the slides.

The preliminary figures underscore the mixed financial performance of European utilities in 2025, balancing cost management with revenue pressures from energy market fluctuations.