Czech power company ČEZ reported a net profit of 16.5 billion Czech koruna (approximately $779 million) for the first half of 2025, a decrease from 21.1 billion koruna in the same period last year. Despite this decline, the results exceeded expectations, prompting the company to raise its full-year profit outlook to a range of 26 to 30 billion koruna, up from the previous estimate of 25 to 29 billion. In 2024, ČEZ reported a net profit of 30.5 billion koruna.
The Czech government holds nearly a 70% stake in ČEZ, making it the majority shareholder. Earlier this year, ČEZ, in partnership with the Czech government, signed an $18 billion agreement with South Korea’s state-owned Korea Hydro & Nuclear Power (KHNP) to construct two nuclear reactors at the existing Dukovany power plant. This initiative is part of the country’s strategy to reduce dependence on fossil fuels and increase the share of nuclear energy in its electricity production.
The two new reactors, each with a capacity of 1,055 megawatts, are expected to be operational by 2036. This expansion represents the largest energy investment in Czech history and is a significant step toward achieving the country’s goal of having nuclear energy account for up to 50% of its electricity production by 2050.
Despite the decrease in net profit compared to the previous year, ČEZ’s decision to raise its profit outlook indicates confidence in its strategic initiatives and the overall performance of the company. The partnership with KHNP and the planned expansion of the Dukovany power plant are expected to play a crucial role in enhancing ČEZ’s position in the energy sector and contributing to the Czech Republic’s energy transition goals.
The Czech government’s substantial stake in ČEZ underscores the importance of the company in the national energy landscape. The collaboration with KHNP not only strengthens international ties but also brings advanced nuclear technology to the Czech Republic, supporting its efforts to modernize and diversify its energy sources.
As ČEZ continues to implement its strategic plans, stakeholders will be closely monitoring the progress of the Dukovany expansion and its impact on the company’s financial performance and the broader energy market. The successful completion of the new reactors is anticipated to bolster ČEZ’s profitability and support the Czech Republic’s objectives for a sustainable and secure energy future.
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