Business

Iveco Bus Czech Republic
Iveco CR Sees Revenue And Profit Fall In 2020

The bus manufacturer Iveco Czech Republic last year generated a profit after tax of 2.218 billion crowns. That is 528 million crowns less than the year before. Revenues decreased by eight percent to 22.341 billion crowns. The company produced 4,522 buses last year. In 2019, its production reached 4,612 vehicles. Due to the coronavirus pandemic, […]

CNB Approves PPF Raising Moneta Stake

Tanemo from the PPF Group received approval from the Czech National Bank to increase its stake in Moneta Money Bank to 28.36 percent. Tanemo received a confirmation from its shareholders that it had repurchased 141,723,860 shares from Moneta’s voluntary public repurchase offer. The price for the purchased shares would reach 11.3 billion crowns. The settlement […]

Marek Spanel Acquires Echo Media

Marek Španěl, the co-founder of the Bohemia Interactive game studio, has become the new majority owner of the Echo Media publishing house, which operates the Echo24 daily and the Echo Weekly. He bought a majority stake in Rudolf Ovčaří, the original financial investor of the publishing house. Echo said this in a press release today. […]

EPIF Sees Revenue And Profit Decline In 2020

Last year, the year-on-year operating profit EBITDA fell by five percent to 1.53 billion euros (39.7 billion crowns) for the company EP Infrastructure (EPIF), which is one of the main components of the Energy and Industrial Holding (EPH) entrepreneur Daniel Křetínský. Consolidated sales decreased by 8.1 percent to 3.2 billion euros (83.1 billion crowns).  EPIF […]

Vesa Ups Stainsbury’s Stake To 10%

The investment company Vesa Equity Investment of the Czech billionaire Daniel Křetínský and the Slovak investor Patrik Tkáč increased its share in the British supermarket chain Sainsbury’s to 9.99 percent. According to company spokesman Daniel Častvaj. Last September, the company announced that it had acquired a 3.05 percent stake in Sainsbury’s. According to Vesa Equity […]

Home Credit To Lay Off Half Of Worldwide Staff

The Home Credit Group, which provides consumer loans, had to halve the number of employees worldwide after last year’s slump, about 60,000. According to an interview on Seznam Zprávy by Ladislav Bartoníček, who was entrusted with the PPF group’s management, to which Home Credit belongs, after billionaire Petr’s death, Kellner. Home Credit states on its […]

CEP’s Sees Profits Fall by 16% In 2020

Last year, the operator of the domestic energy transmission system ČEPS’s profit before tax fell by 15.8 percent to 3.4 billion crowns. While total revenues rose by almost 13 percent to 201.3 billion crowns compared to 2019. The company invested 5.9 billion crowns in the development and modernization of the transmission system, roughly 800,000 crowns […]