CEZ Vanzare started up with a share capital of ROM40 million and now it’s down RON30 million, Jan Veskrna told a news conference. “In fact, we’ve lost RON70 million because of CFR,” he said.
Veskrna said he will discuss a possible capital increase with CEZ Romania’s majority owner, Czech power group CEZ AS.
He added it’s unlikely the group will shut down the retail division, despite the company’s feeble financial situation.
The rail company is CEZ’s biggest debtor, with receivables estimated at RON330 million. CEZ Romania stands to collect total receivables worth RON734 million.