012 - ÄEZ Distribuce

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ČEZ Distribuce, a. s. Financial Performance Company Financing Cash Flows Cash Flows (CZK millions) (12,000) (8,000) (4,000) 0 4,000 8,000 2011 2012 investing activities financing activities operating activities (10,058) (8,934) (1,719) (1,834) 11,777 10,768 Short-term financial assets as at December 31, 2012 totaled CZK 0.03 million. 026 Cash provided by operating activities (CZK 10,768 million) consisted of the following items: profit or loss on ordinary activities before taxation CZK 5,273 million corporate income tax paid CZK (1,510) million depreciation and amortization of fixed assets, write-off of receivables CZK 6,335 million change in working capital CZK 1,491 million other operating activity CZK (821) million. Cash used in investing activities totaled CZK 8,934 million, and the biggest component therein was purchase of fixed assets, at CZK 8,952 million. Financing activities used CZK 1,834 million in cash. Components of this figure include CZK 4,500 million in dividend pay-outs, and a CZK 1,065 million change in receivables/payables related to Group cash pooling. On the other hand, a change in the balance of a loan generated CZK 3,731 million in cash. Borrowings and Their Maturity At December 31, 2012 the company had outstanding loans totaling CZK 10,300 million. Of this figure, the non-current portion accounted for CZK 9,012 million and the current portion was CZK 1,288 million. The loans mature on December 27, 2019 and June 7, 2022 and were provided to finance reconstruction and development of the Czech Republic distribution grid at the medium- and low-voltage levels. Key Performance Indicators Units 2011 2012 Return on Equity (ROE), net % 6.56 4.99 Return on Assets (ROA), net % 4.35 3.27 EBIT margin % 13.65 10.68 Net debt/Equity % 7.60 11.94 Net debt/EBITDA % 121.94 157.46 Current ratio % 69.82 67.54 Operating cash flow-to-liabilities ratio % 68.55 55.39 Assets turnover 1 0.41 0.41 Fixed assets coverage % 91.64 92.71 Extent of depreciation % 51.64 52.08
ČEZ Distribuce, a. s. Commercial and Financial Outlook for 2013 Commercial and Financial Outlook for 2013 2013 is the fourth year of the third regulation period. The electricity distribution services purchasing and sales plan is based on estimated electricity consumption in the ČEZ Distribuce, a. s. region for 2013 and on the Energy Regulatory Office’s price decrees for 2013, which reflect principles of regulated prices on both sides: purchasing and sales. The purpose of these principles is to ensure coverage of distribution companies’ justified expenses, generate funds for renewing and developing the distribution grid, and ensure returns for shareholders. The company’s plan for 2013 envisions revenues of CZK 57,046 million, pre-tax income of CZK 7,871 million, and capital expenditures of CZK 8,258 million. 027
Page 1 and 2: Annual Report 2012 ČEZ Distribuce,
Page 3 and 4: 012 The Smart Region Vrchlabí pilo
Page 5 and 6: Success in the power industry can b
Page 7 and 8: ČEZ Distribuce, a. s. Information
Page 9 and 10: II. We have also audited the consis
Page 11 and 12: ČEZ Distribuce, a. s. Introduction
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Page 65 and 66: ČEZ Distribuce, a. s. Notes to the
Page 77: Group Structure Chart Alphabetical

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