(MENAFN) Czech power group CEZ announced logging a profit slump of 36 percent in its 2014 operations on a mild winter and lower global energy prices, The Peninsula Qatar reported.
The state-owned company CEZ said it earned a net profit of USD912 million last year on revenue of USD8.16 billion. Net profit dropped from USD1.43 billion registered in 2013.
CEZ, which is 70 percent controlled by the Czech state and employs more than 26,000 people, produced a total of 63.1 terawatt hours of power in 2014, a drop of 5 percent from 2013.
"Net profit fell from USD1.43 billion in 2013 on lower electricity prices, an unusually warm and dry winter in 2014 and a drop in output from coal-fired resources," CEZ said in a statement.
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