Business

Czechia In Danger Of Losing Investor Confidence: Moody’s

Moody’s rating agency warned that Czech public finances might not be sustainable in the long run. According to the agency, the government’s budget plans for the medium term do not include any significant consolidation objectives, which has a negative effect on the assessment of creditworthiness. According to Moody’s, the consolidation of the state budget will […]

Czech Inflation Soars Above 3 Percent

Consumer prices rose 3.1 percent year on year in April, the most since last September. The largest share in this is the increase in the price of fuels and tobacco products. The previous month’s annual inflation was 2.3 percent. Exceeding the 3% mark in April is surprising, according to economists, however, according to them, year-on-year inflation will remain […]

CEZ Sees Net Profit Plummet 41% In First Quarter

The net profit of the ČEZ energy group in the first quarter of this year fell by 41 percent year on year to 8.4 billion crowns. Operating revenues, on the other hand, rose by four percent to 59.1 billion crowns. The group generated 15.9 terawatt hours (TWh) of electricity in the first three months of this year, […]

EPH Reports Flat Profit In 2020

The operating profit EBITDA of the Energeticky a Prumyslovy Holding (EPH) of the entrepreneur Daniel Křetínský last year stagnated at 2.1 billion euros (53.8 billion crowns) year-on-year. Consolidated sales fell by 1.2 percent to 8.5 billion euros (217.6 billion crowns).  According to EPH, the results were affected by the sale of Pražská teplárenská and its stake […]

Czech New Car Prices Climb In First Quarter

Prices of new cars on the Czech market increased by an average of 0.8 percent in the first quarter compared to the last quarter of last year. Behind the increase is the widespread rise in prices for the Volkswagen, Škoda and Mercedes-Benz brands. Vehicles in the top variants became more expensive by 1.1 percent, basic equipment by […]

Czech Industry Gains Momentum

Czech industrial output showed a bit of momentum in March, growing 3.2% month-on-month and marking its biggest year-on-year jump since 2007, a year after factory shutdowns at the outset of the COVID-19 pandemic sent production crashing. The monthly rise was higher than some analysts expected and comes despite central European factories, geared heavily to the […]

CNB Holds Rates Steady, Downgrades Economic Outlook

The Czech National Bank left interest rates unchanged today. The primary interest rate, on which the interest rate on commercial loans is derived, thus remains at 0.25 percent. CNB Governor Jiří Rusnok also said today that he is convinced that the council will raise interest rates later this year. He did not rule out that the members of […]

Penta Investments Profits Plummet 48 Percent

Last year, Penta Investments Group’s profit fell by 48 percent to 3.5 billion crowns. Cumulative revenues of portfolio companies increased by five billion to 181 billion crowns. Dr.Max, betting Fortuna, Penta Real Estate and Primabanka, in particular, contributed to the profit. On the other hand, Dôvera insurance company, the Polish retail network Empik, Slovalco and Aero Vodochody were […]