PPF Group returns to pre-Covid levels of profitability

"Our telecommunications, media and financial assets made particular contributions to our overall net profitability in the first half of the year, which is comparable to our pre-Covid results. Our performance enables us to be healthily ambitious in our future investment program," said Kateřina Jirásková, PPF Group's CFO.

Since the start of the year, the Group has made equity investments in companies in Europe, the United States and South Africa. These include the acquisition of shareholdings in ProSiebenSat.1, a German media group, and InPost, the Netherlands-listed operator of a pan-European network of self-service lockers for e-commerce. In August, PPF also announced a partnership agreement with global technology group e& to create a major player in the Central and Eastern Europe telecoms market.

In line with the strategy to strengthen its presence in European and North American markets, PPF completed the sale of Home Credit Indonesia in October 2023, following the Philippines transaction that settled in June. The buyer of both assets is a consortium led by Japan's Mitsubishi UFJ Financial Group.