William Malcolm

PPF Reports €384M First Half-Loss

Petr Kellner’s PPF Group reports losses of EUR 384 million in the first half of this year. A year earlier, the company earned 573 million euros. The group’s total assets decreased by EUR 5 billion year-on-year to EUR 44 billion.

“It’s a nominally large number, but it needs to be seen in context. Last year’s profit for the entire PPF was one billion euros, we have accumulated about four billion euros in the previous five years. The essence is that all this money remains in the group, nowhere they are not lost, “commented Kateřina Jirásková, PPF’s CFO, said at the end of September about Home Credit’s results in the press.

PPF’s portfolio includes Home Credit, PPF Banka, Air Bank, and Zonky, ClearBank, Cetin, O2, Telenor CEE, CME, PPF Real Estate Holding, Sotio, Cytune Pharma, Autolus Therapeutics, Škoda Transportation and Temsa, Mall Group and Heureka, PPF Life Insurance, PPF Art, and Bestsport. The group also includes the CzechToll company, a toll operator in the Czech Republic.

PPF Group invests in many industries, from financial services to telecommunications, media, biotechnology, and real estate to engineering. It operates in Europe, Asia, and North America and employs 98,000 people worldwide.