Goal of this Master's Theses was financial analysis of energy producer CEZ and finding reasons for increasing profits generated in last years. In the beginning I have defined standard set of financial indicators. Then I have analyzed the situation of the electricity market in the Central European region. Using the defined set of financial indicators I have analysed the consolidated financial statements of the company for years 2006-2009. Later on I have compared the findings with 2 European competitors of the company. I have discovered that thank to increasing market prices of the electricity after the Czech market has been liberalised, company has heavily increased the revenues and subsequently the return on equity. The management has changed the gearing of the company as it had only limited amount of debt. Thank to the leverage effect it further increased the return on equity. At the end I have analysed the impact of the state ownership of most of the shares with only limited effect on the profitability of the company.
| Identifer | oai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:76721 |
| Date | January 2009 |
| Creators | Smetana, Juraj |
| Contributors | Boukal, Petr, Bučko, Jan |
| Publisher | Vysoká škola ekonomická v Praze |
| Source Sets | Czech ETDs |
| Language | Slovak |
| Detected Language | English |
| Type | info:eu-repo/semantics/masterThesis |
| Rights | info:eu-repo/semantics/restrictedAccess |
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