Daniel Kretinsky’s Energetický a průmyslový holding (EPH) 2019 EBITDA grew by ten percent to CZK 56 billion crowns (2.1 billion euros), on consolidated revenues of CZK 230 billion (8.6 billion euros). EPH announced the record results on Twitter. EPH has two main divisions – EP Infrastructure (EPIF) and EP Power Europe (EPPE). EPIF’s holdings include […]
Omnipol has acquired Aero Vodochody Aerospace from Penta Investments in a joint venture with Hungarian businessman Andras Tombor. Tombor holds a 51 percent stake in AERO Investments Partners, and Omnipol has a 49 percent in the joint venture. The Omnipol Group, which is controlled by the Háva family, will manage the company. “Aero is one […]
Daniel Kretinsky’s Czech Media Invest is backing a new business news Channel BSmart TV in France. CMI France will provide an investment of five million euros in the network, French media reports. The business news station will have only about 25 employees. The network’s founder, Stephane Soumier, says it will defend freedom of enterprise and […]
Daniel Kretinsky sold off the majority of his stake in Macy’s for an estimated profit of $36 million. In April and May, Kretinsky and Patrik Tkac’s Vesa Equity Investment, bought 15.5 million shares of Macy’s for a 5 percent stake in Macy’s. Macy’s stock price on the NYSE has risen sharply as the coronavirus pandemic […]
Industrial output in the Czech Republic fell by 33.7% in April as factories closed due to the coronavirus. The decline is the country’s most significant on record since 2001. The downturn hit across industries, but the impact on the auto industry was the greatest, with production falling by 80%. New manufacturing orders dropped by 42%. […]
Smartwings Group is seeking a CZK 900 million state loan or loan guarantee. The group’s owners Czech Unimex Group and Chinese state-owned CITIC Group will also invest one billion crowns, Lidovky reports. The company, which employs 2,500 people, gained hope on Thursday to survive its worst crisis to date. The shareholders of Smartwings, which includes […]
Greenpeace filed a criminal complaint against OKD today for spreading a contagious human disease. The NGO alleges that OKD and its management acted negligently by not halting operations at the Darkov Mine at the first sign of a COVID-19 outbreak among OKD employees. The complaint cites the fact that a state of emergency was in […]
In the first five months of the year, sales of new passenger cars fell by 30.3 percent year-on-year due to a drop in demand because of the coronavirus pandemic. In May alone, sales declined by 44.4 percent year-on-year. The Association of Car Importers (SDA) announced today. Unlike April, when dealerships were closed for most of […]
Analysts expect antivirus software maker Avast to join the FTSE 100 index on the London Stock Exchange. Carnival and easyJet are among the companies set to depart the FTSE 100. FTSE Russell will announce the quarterly reshuffle of the composition of the index today. Avast was fAvast was founded in 1988 by Czech researchers Eduard […]