Matt Atlas

PPF Telecom Group Sees Profits Rise 16%

Last year, the PPF Telecom Group increased its net profit by 16.1 percent to 432 million euros. The group’s consolidated revenues, including O2, CETIN, and Telenor, were EUR 3.2 billion.

As of December 31, 2020, the number of customers of PPF Telecom Group’s mobile operators increased by 0.6 percent year-on-year to 18.3 million. The number of contract customers increased by 1.3 percent and reached 67 percent of their total number.

Following the successful purchase of spectrum for 5G networks in the Czech Republic, Hungary, and Slovakia, the ratio of investment costs to revenues for 2020 increased by seven percentage points to 19 percent compared to 2019.

The group reported a free cash flow of 679 million euros. After deducting payments for spectrum licenses, the amount of these free funds was comparable to last year.

“Good financial results demonstrate the resilience of our companies to pandemic and lockdown barriers. The communications services we provide enable millions of customers to continue working and studying and cope with the unprecedented changes we are experiencing,” said PPF Telecom CEO Group Ladislav Bartoníček.

According to Bartoníček, the group strengthened by separating mobile networks from the retail part of Bulgaria, Hungary, and Serbia and subsequently consolidating infrastructure companies into CETIN Group at the end of the year. “Together with the successful acquisition of spectrum for 5G networks in three countries in our region, we have created good conditions for the further long-term development of the group. “he added.

PPF Telecom Group is the telecommunications division of the PPF investment group. It includes mobile operators O2 Slovakia, Telenor in Montenegro, Bulgaria, Hungary, Serbia, the integrated operator O2 in the Czech Republic, and the infrastructure company CETIN Bulgaria, the Czech Republic, Hungary, and Serbia.

The entire PPF investment group of Petr Kellner operates in Europe, Asia, and North America. The group owns assets of 44 billion euros and employs 98,000 people worldwide.