Czech investment group PPF's 2023 profit soars

Moneta Money Bank, A.s

14/05/2024 08:10

PRAGUE, May 14 (Reuters) - Czech investment firm PPF
Group's net profit jumped in 2023 to 1.45 billion euros ($1.56
billion), its highest level since 2008 on the back of gains in
its telecoms, media and banking businesses and the sale of some
Home Credit units.
    PPF sold its consumer lender Home Credit businesses in the
Philippines and Indonesia last year as part of a shift westward
for the group, which spans 25 countries and holds assets in
biotechnology, real estate and engineering as well.
    Its 2023 profit jumped from 164 million euros in 2022.
    PPF increased stakes in some companies last year including
Prosieben and InPost. It said its total assets rose to 43.48
billion euros in 2023, from 39.88 billion in 2022.
    PPF is owned by the richest Czech, Renata Kellnerova, who
took over the group after her husband Petr Kellner died in a
helicopter crash three years ago.
    Among assets, PPF owns a string of television stations in
central and eastern Europe and a bank in the Czech Republic and
is a large investor in Czech lender MONETA Money Bank  MONET.PR 
and German media group ProSiebenSat.1  PSMGn.DE . 
    It announced plans to sell its Home Credit unit in India
last week and earlier this year said it would sell its business
in Vietnam.
    

($1 = 0.9274 euros)

 (Reporting by Jason Hovet and Jan Lopatka; Editing by Susan
Fenton)
 ((jason.hovet@thomsonreuters.com;))