Czech Republic Segment

Czech Republic Segment overview










Total sales


EUR mill.









EUR mill.







Investments in property, plant and equipment and intangible assets


EUR mill.







Workforce (on average)









Invoiced drinking water volume


m3 mill.







Invoiced waste water volume


m3 mill.







Framework conditions in the Czech Republic

The development in economic growth in the Czech Republic was at a moderate level in the 2022/2023 fiscal year, while inflation was still very high in the reporting period. It was around 18% at the beginning of October 2022 and has dropped slowly since then. At the end of the reporting period, inflation was around 6.9%. The unemployment rate remained near full employment, as during the 2021/2022 fiscal year.

In the 2022/2023 fiscal year, high fuel prices, in particular, were relevant for the heating unit of the Czech Republic Segment. In the case of water supply and waste water management, notably higher market prices compared to the previous year impacted on electricity expenses for water and waste water treatment and allocation. However, a number of efficiency campaigns and the consideration of the increased energy expenditure in costing have greatly minimised these effects. As of 1 January 2023, the Czech government ratified a price cap for electricity and gas; this had an additional positive impact on energy expenditure in the Czech Republic Segment.

The Czech koruna continued to steadily strengthen against the euro in the course of the 2022/2023 fiscal year, only weakening slightly in the last quarter. The exchange rate as of 30 September 2023 was EUR/CZK 24.4.

Business development in the Czech Republic Segment

In the 2022/2023 fiscal year, the Czech Republic Segment generated sales revenues of EUR 229.7 million in its water and heating business. This was equivalent to an increase of 18.0% compared with the previous year and was attributable to the price increase which occurred in the reporting period, to exchange rate effects and to higher sales revenues in the service sector.

The EBIT in the Czech Republic Segment amounted to EUR 10.5 million in the reporting period. This is equivalent to an increase of 75.0% (previous year: EUR 6.0 million). The efficiency measures and the lower procurement prices for electricity and gas compared to the previous year, partly due to the statutory price cap, had a positive effect on EBIT in the reporting period.

Stable volume development in the Czech Republic

In the Czech Republic Segment, a total of 48.9 million m3 of drinking water and 45.2 million m3 of waste water were invoiced in the reporting period. This corresponds roughly to the previous year's level.

Invoiced drinking water volume

in m3 mill.

Invoiced drinking water volume (bar chart)

Invoiced waste water volume

in m3 mill.

Invoiced waste water volume (bar chart)

In the 2022/2023 fiscal year, all major tenders for drinking water and effluent were won; the most important of these being the tenders in Prachatice, Dobřany, Blovice (ČEVAK a.s.) and Velké Přílepy (VAK Beroun a.s.).

To compensate for high energy prices, energy efficiency campaigns were successively launched at operational investments. For example, the CHP plant at the České Budějovice sewage treatment plant was renovated. As a result, biogas created by recycling sewage sludge is now used in a CHP plant to generate electricity and heat, with surplus quantities being fed into the public grid. At the Chrudim sewage treatment plant, the ventilation system for the digestion process is being renewed. In addition, PV projects are being pushed forward with a view to reducing requirements for external energy.

The “Digital Twin” pilot project for a VAK Beroun a.s. sewage treatment plant was further developed during the reporting period. The project, which is funded by the Czech Republic's Technology Agency, aims to create a digital simulation of operating procedures in order to optimise processes and boost energy efficiency.

The heat sales volume in the Czech Republic amounted to 197 GWh in the reporting period, which is at par with the previous year's figure (198 GWh). Declines due to the milder winter and customer savings offset the total increase due to the acquisition of RATE s.r.o. as of 3 January 2022.