SOFIA (Bulgaria), March 4 (SeeNews) - Czech power utility CEZ said on Tuesday its net profit from operations in Bulgaria rose nine percent to 80 million levs ($62.3 million/40.9 million euro) last year.
The group, which runs electricity distribution Business in northern Bulgaria, including the capital Sofia, and a thermal power plant in the country's third-largest city of Varna, had a 15% drop in operating profit to 75 million levs due to increased amortisation and salary costs, CEZ said in a statement.
CEZ net profit from its electricity distribution companies in Sofia city, Sofia region and Pleven city, rose two percent to 68 million levs in 2007 and its net profit from the Varna utility increased 80% to 12 million levs.
The group sold 8.3 terawatthours of energy (TWh) last year, compared to 8.2 TWh in the previous year. It added 8,410 new customers last year and their total number reached 1.97 million at the end of the year.
CEZ plans to invest some 90 million levs this year to upgrade its network. It invested a total 212 million levs between 2005 and 2007 in its three distribution units, which it merged last year. The group bought them from the Bulgarian government for a combined 281.5 million euro in 2004.
(1 euro = 1.95583 Bulgarian levs)
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