William Malcolm

PPF Group’s 2019 Net Profit Up 16% to €1B

PPF Group’s net profit rose by 16 percent to one billion euros in 2019. The Group’s total assets increased by eight percent to EUR 48.6 billion, PPF reports.

“2019 was another successful year for the Group. All key assets in consumer finance, banking, telecommunications and real estate have again shown stable profitability. The main driver was the profitability of the financial holdings together with the telecommunications, where we show the full year impact of the acquisition of Telenor assets in Hungary, Bulgaria, Serbia and Montenegro. We see this as a confirmation of our long-term strategy of portfolio diversification across industries as well as the regions. With this strategy and the results of the previous years, PPF Group is prepared to face the global economy slowdown expected in 2020,” commented Kateřina Jirásková, Chief Financial Officer, PPF Group.

PPF Group invests in a variety of industries, from financial services to telecommunications, biotechnology, real estate to engineering. It operates in Europe, Asia, and the USA.