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PPF Posts Net Profit in 1H 2021 As It Recovers from Covid Stress
PPF Group N.V. posted EUR 208 million net profit in the first half of 2021, compared with EUR 384 million loss in the same period a year earlier. The results prepared under IFRS show PPF has recovered from the 2020 pandemic impact.
Key performance indicators:
- Consolidated and audited net profit in 1H 2021 was EUR 208 million, while in 1H 2020, PPF Group recorded a net loss of EUR 384 million.
- PPF Group’s total assets were EUR 40.3 billion on 30 June 2021, up from EUR 39.7 billion on 31 December 2020.
- PPF Group’s equity attributable to owners of the Parent totaled EUR 8.6 billion on 30 June 2021, up from EUR 7.9 billion on 31 December 2020.
“PPF’s first half-year results demonstrate that the Group is able to withstand the immediate and lingering effects of the Covid pandemic through the sectoral and geographic diversification of its portfolio. Having recorded profitability for two consecutive half-year periods, PPF is ready to undertake new transactions while investing in its existing assets. Although the pandemic has hit our consumer finance business hardest, I am delighted that most of Home Credit’s markets, including the Czech Republic and Slovakia, have maintained their long-term profitability,” said Kateřina Jirásková, PPF CFO and member of the Group’s Executive Committee.
