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PPF Group is an international investment group founded in the Czech 
Republic in 1991. It has grown to manage operations in 25 countries around the world.

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PPF Group

Czechs have a great thing going, but some don’t even know it, says e& PPF Telecom Group CEO Balesh Sharma

PPF Telecom Group B.V.

PPF entered the telecom industry in 2014 and has been transforming it ever since. In 2015, it pioneered the separation of infrastructure from end-user services. This move revitalised both branches of the traditional telecom model by enhancing efficiency, agility, and, above all, management focus. This innovation has reignited sustainable growth in every telecom operator acquired by PPF. In 2024, PPF spurred a new cycle of growth by partnering with e&amp;, the global technology group, to unlock synergies and drive further innovation. This partnership created the e&amp; PPF Telecom Group.

<h2>Yettel and O2</h2>
The group serves consumer, corporate, and public sector customers through the O2 and Yettel brands, offering mobile voice, data and text messaging, fixed broadband, multi-platform internet television, and corporate data networks.
The group&rsquo;s telecommunications infrastructure providers are consolidated within the CETIN International subgroup, which offers wholesale services to all operators on equal terms.
<h2>CETIN International</h2>
CETIN International is the leading telecommunications infrastructure services provider in the region. It operates a high-quality telecommunication infrastructure portfolio, including the full scope of mobile access network assets, and an extensive fibre backbone and aggregation network.
CETIN offers wholesale telecommunications infrastructureservices to all operators in their four markets on equal terms. In Slovakia and Hungary, CETIN operates radio access networks for mobile services under network sharing agreements. This improves network coverage and capacity, accelerates modernisation, and generates energy savings.
A minority shareholder in CETIN International is GIC, Singapore's sovereign wealth fund, which is a long-term investor with global reach and extensive experience in infrastructure.
PPF holds 50% minus one share in e&amp; PPF Telecom Group, the majority shareholder with 50% plus one share is e&amp;.

Slovakia

Bulgaria

Hungary

Serbia

e&amp; PPF Telecom Group is a major telecommunications service provider in Slovakia, Hungary, Bulgaria, and Serbia. Formed through a strategic partnership between e&amp; and PPF, the group is evolving from a mobile operator into a regional technology leader. It is leveraging PPF&rsquo;s cross-industry expertise, innovative operating model, and local knowledge, along with e&amp;&rsquo;s global presence and competence in advanced technologies and innovation.&nbsp;&nbsp;

Key operational data

“Leveraging the partnership between PPF and e&, we are developing a fully digitised customer journey and product suite to create an ecosystem around telecom services and further enhance the customer experience as our strategic differentiator.”  

e& PPF Telecom Group

Kasper Taczek PPF in conversation with the German Association for the Protection of Investors (Schutzgemeinschaft der Kapitalanleger e.V.)

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PPF, a. s. 

PPF Gate

PPF a.s.&rsquo;s objective is to provide consulting to both the PPF Group N. V. holding company, which manages the entire PPF Group, and the various individual PPF Group companies. In delivering these services, it strives to maximize efficiencies and synergies across the group while making the best possible use of the knowledge and skills of its top-notch experts.&nbsp;

Czech Republic

PPF a.s. is the principal consulting company within PPF Group.

PPF a.s. 

Kasper Taczek im Gespräch mit der Schutzgemeinschaft der Kapitalanleger e.V.

Balesh Sharma: Partnership with e& confirms PPF's commitment to Bulgaria

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Balesh Sharma is CEO of e&amp; PPF Telecom Group. The group was formed following last year's announcement of a strategic partnership between the Czech PPF Group and global technology group e&amp;, which operates in the Middle East, Asia, Africa and Europe.
In Bulgaria, e&amp; PPF Telecom Group is represented by telecommunications operator Yettel Bulgaria and infrastructure company CETIN Bulgaria.
What are the results of this partnership today? How do you see its role for Central and Eastern Europe, and what specifically are you focusing on in Bulgaria?
Balesh Sharma discusses this in an exclusive interview with Economic.bg below.
Mr. Sharma, in October last year,&nbsp;<a href="https://www-economic-bg.translate.goog/bg/a/view/yettel-veche-e-s-nov-majoritaren-sobstvenik?_x_tr_sl=auto&amp;_x_tr_tl=en&amp;_x_tr_hl=cs&amp;_x_tr_pto=wapp">PPF Group completed a transaction with global technology group e&amp;</a>, resulting in the creation of a new regional leader, e&amp; PPF Telecom Group. Nine months later, what has this partnership brought? What have you achieved so far, and what lies ahead?
The last few months have been very dynamic, and time has flown by. The partnership with e&amp; is fully meeting expectations. It is giving us much greater opportunities for investment in the region and accelerating the achievement of our strategic goals, which benefits both sides.
Before the agreement was signed, we had a very strong position in Central Europe, but realistically, we were a mid-sized telecommunications group, especially compared to larger competitors. Thanks to our partnership with e&amp;, we now have the scale and resources to make new investments and drive innovation in all our markets.
A clear example of this strategy is the acquisition of SBB in Serbia by e&amp; PPF Telecom Group. In less than six months, we've already invested 820 million euros&mdash;concrete proof of our new direction. And this is just the beginning.
Does the acquisition of SBB mean you have a more ambitious expansion strategy in the region, including Bulgaria?
We're always looking for opportunities to grow our telecommunications business, both organically and through partnerships, expanding our service portfolio or, where it makes sense, through acquisitions.
The acquisition of SBB, a leading TV and internet services provider in Serbia, was strategically justified. Market dynamics and synergies with our existing operations made it a logical step. It was one of the markets where we lacked the products and services that SBB offers.
However, acquisitions are not our only focus. Our main priority remains value creation, whether through organic growth, innovation or strategic transactions. PPF has always pursued an active investment approach, and through our partnership with e&amp;, we have two powerful engines under our wings, so to speak. This gives us the financial strength to move forward and support innovation in all our markets, including Bulgaria.
Is this transaction a sign that PPF is planning to withdraw from the region or from Bulgaria?
Quite the contrary. The transaction clearly signals our long-term commitment. PPF has been a long-standing investor in Bulgaria and active in the local market for many years.
Telecommunications have always been a key pillar of PPF's portfolio, and our deep knowledge of the region was one of the main reasons why e&amp; approached us.
PPF is well known for its regional expertise in telecommunications. How do you differentiate yourself in the European telecommunications market?
PPF has a long tradition in Europe. We know the markets, regulatory environments and customer profiles. e&amp; recognized this as a strategic advantage. Our partnership was a natural step, and its benefits are already beginning to show.
PPF has a history of innovation in the telecommunications sector. Our approach of separating network infrastructure from commercial operations was one of the first in the world and has been successfully applied in markets such as Bulgaria, Serbia, Hungary, the Czech Republic and Slovakia. We were first to introduce this model in Bulgaria, and our competitors later adopted it as well, proving that our strategy was the right one.
We also invest in network quality. For example, Yettel Bulgaria has received the Best in Test certificate for best network eight times from the independent comparative analysis organization umlaut. This year, the company achieved its best result yet, with more than 950 points out of a maximum 1000, ranking its network among the top 10 in Europe and the top 20 in the world.
But in addition to technology, we're also a proven employer. Yettel Bulgaria has twice been awarded the Top Employer certificate by the Top Employers Institute. It's this balance between innovation and operational efficiency that sets us apart.
What is e&amp; PPF Telecom Group's vision for the next five years? Are you focusing on the so-called "techco" model, like many other telecommunications companies?
The telecommunications industry is changing, and we're definitely part of this evolution. The future lies in not just being a connection provider but offering much more. We see the transition from the traditional telco model to the so-called "techco" model as a key part of our development. In practice, the techco model combines telecommunications with innovative digital services, artificial intelligence, and customer-oriented platforms. e&amp; has already undergone this transformation, which puts us in a good position to draw on its experience.
We're also moving in this direction with confidence and a clear goal. As head of e&amp; PPF Telecom Group, it's my job to ensure we're ready for the future&mdash;flexible, digitally oriented and adaptable to change.
Artificial intelligence is a hot topic today. What role does it play in your business, both globally and locally?
Artificial intelligence is playing a transformative role in telecommunications. Globally, it enables preventive maintenance, intelligent network management, and advanced analytics solutions. Locally, including in markets such as Bulgaria, we're already using AI-based tools to personalize the customer experience and optimize operations.
For example, we're integrating AI into customer interactions, from personalized offers in digital channels and physical locations to increasing customer service efficiency. The goal is to create value for both the customer and the business.
PPF Group recently made changes to its management team. Didier Stoessel and Kateřina Jir&aacute;skov&aacute; became CEOs. Does this affect the strategy or direction of e&amp; PPF Telecom Group?
Our strategic direction remains unchanged. As CEO of e&amp; PPF Telecom Group, my role has always been to create value for our customers, shareholders and society as a whole. I set the strategic vision, but local management handles implementation. I have the full confidence and support of the current management teams, including those in Bulgaria. We're keeping both the team and the strategy&mdash;we aren't changing anything that has proved successful.
What is Yettel Bulgaria's main priority at the moment?
Without a doubt, digital transformation. We're focusing on fully digitizing operations and transforming Yettel into a telecommunications company ready for the future. Our goals for 2025 are ambitious, and the local team, led by CEO Jason King, is doing an excellent job of achieving them.
We're actively upgrading the Yettel app into a comprehensive digital platform. It's the first telco app in the country to offer features such as fully digital number portability and tariff activation, as well as expanded payment options through Google Pay and Apple Pay.
We also plan to integrate AI-based tools to improve and personalize the customer experience. From a commercial perspective, we'll be strengthening our exclusive online offerings with the aim of achieving a 30% share of digital transactions.
Of course, we still have a lot of work ahead of us, but this is an exciting time for both the telecom sector in Europe and our customers in Bulgaria.

CME CEO: TN live is the answer to how young people consume news

CME MEDIA ENTERPRISES B.V.

CME MEDIA SERVICES LIMITED Czech Republic

Operating in Croatia, the Czech Republic, Bulgaria, Romania, Moldova, Slovakia, and Slovenia, CME made significant strides in 2024 by adhering to its &ldquo;anytime, anywhere&rdquo; strategy. Its growth has been fuelled by high-quality local content, increased streaming consumption, and strong performance in TV advertising. Since its acquisition by PPF in 2020, CME has become one of the CEE&rsquo;s largest and most invested-in broadcasters, poised for further expansion. Central to its strategy is its ability to connect with local audiences through resonant stories, supported by a robust long-term content plan and digital agility. In 2024, over 100 projects &ndash; both linear and Voyo-exclusive &ndash; were in development across CME&rsquo;s operations.&nbsp;

As SVOD services rapidly advance across Europe in response to rising consumer expectations, CME has continued to scale up the Voyo platform, premiering 48 originals by the end of 2024. This content garnered critical acclaim from viewers and industry professionals across the region, including ten Czech Lion Film Award nominations for Markovič Method: Hojer.&nbsp; At the close of the year, Voyo had 950,000 paying subscribers in the Czech Republic and Slovakia, with the total across all markets approaching 1.4 million. In most regions, Voyo is among the top three SVOD providers and the number-one local provider. In November 2024, CME, in partnership with the telecommunications operator Yettel, launched Voyo in Serbia, marking its first foray into a market where it does not have a dedicated TV station.&nbsp;
Launching in March 2025, Oneplay &ndash; the new over-the-top video streaming and live television platform from CME&rsquo;s Czech broadcaster Nova and PPF&rsquo;s telecom operator O2 Czech Republic &ndash; exemplifies CME&rsquo;s deep digital transformation. Replacing both Voyo and O2 TV, it brings together the best of television and online content in a single package, offering a wide range of Czech and international channels, from live sports and blockbuster films to niche cinema, children&rsquo;s programming, documentaries, and more.

News continues to be a cornerstone of CME&rsquo;s programming, maintaining significant market and audience share. In 2024, CME continued operating&nbsp; the CME News Bureau in Brussels, serving as a hub for correspondents from all CME stations to report on EU, NATO, and broader European affairs for domestic audiences. &nbsp;
CME continued its strategy of securing premium sports content for live broadcasts, with key acquisitions including Formula 1 for the Czech and Slovak markets, and UEFA EURO 2024 for Slovakia and Romania.&nbsp;
Recognising its influence on millions of people daily, CME is uniquely positioned to raise awareness, raise awareness, inspire, and advocate for positive change. Its sustainability initiative, CME Cares, continues to address the most pressing social and environmental challenges facing the media sector. CME has worked towards earning Top Employers Institute certification for all its stations, already achieving this goal in the Czech Republic and Romania for 2025, with other countries in the pipeline. The company has also pioneered employee engagement, consistently achieving high NPS scores across the group. The CME Content Academy, a two-year multidisciplinary programme aimed at nurturing young talent to become future leaders in the entertainment industry, made further progress in 2024.

Information about CME Media Enterprises B.V. can be found <a href="https://www.cme.net/about-cme" target="_blank" rel="noopener">here</a>.

Romania

Slovenia

Croatia

Moldova

CME is a media and entertainment company operating leading television stations in six Central and Eastern European segments. CME broadcasts 47 television channels, reaches 49 million viewers, and operates Voyo, a leader in streaming services. The company invests heavily in in-house production, content, and distribution platforms as it consolidates its marketleading position.

„We are leading the transformation of media in our region with innovative products, premium local content and a strong commitment to meeting the evolving demands of our audiences.“

Central European Media Enterprises (CME) 

You came to the Central European media business from a similar environment in the Middle East. In your view, what is the most significant difference between how television works here and there?


The big difference is in demographics. In the Middle East, most of the population is under 25, which means media trends move much faster there. What we refer to as digital transformation happened very quickly in that region. I'm talking about shifts in TV viewing habits and the expansion of digital broadcasting.


From what we hear from their management, the shift to digital platforms is a core priority for CME, including Mark&iacute;za. To what extent was this shift a part of your role at MBC? (Editor's note: MBC Group is the most-watched private media company in the Middle East and North Africa.)


It was my precisely my role. We launched our own version of Voyo, called Shahid, which means &ldquo;watch&rdquo; in Arabic. It launched in 2008 and has grown well. Initially, it was an AVOD service (Editor's note: advertising-based video on demand, i.e., video on demand financed by advertising), a free platform. By 2020, we had 30 million monthly users. We later shifted to SVOD&mdash;subscription content&mdash;and gained six million paying subscribers across the region. Shahidbecame the largest streaming platform in the Middle East, ahead of Netflix. So yes, I was already in the same game I'm playing now, here in Central Europe.


Is linear television starting to take a back seat?


No, traditional television continues and remains very relevant. Digital transformation doesn't mean abandoning traditional broadcasting. In fact, I believe linear TV will continue to grow. Even in in dollar or euro terms, I&rsquo;m convinced. It&rsquo; will become more important year-on-year. That said, digital will grow even faster, so you need to be active in digital as well.


Will digital platforms reach a tipping point in the near future and surpass linear television?


Digital platforms might attract more viewers overall, but certain formats will remain rooted in traditional television&mdash;live entertainment, big shows, sports... &nbsp;and as we've seen in the Middle East, daily soap operas, for example. People continue to watch them on television; people still go to the living room at 5:30 p.m., turn on the TV, and watch.


Let's go back to your current position. CME is present in seven European markets. What makes the Slovak television market distinct from others where the group operates?


Slovakia's television market is doing very well this year. The important factor is sufficient local content. Mark&iacute;za is investing in this and delivering value to both television broadcasting and Voyo, which has hundreds of thousands of subscribers. This confirms that the digital transition is progressing well in Slovakia.


Mark&iacute;za's portfolio includes six linear TV stations. Could some be shut down in the near future? Or could new ones be added?


Slovaks still watch an average of four hours of television a day. So, we're still doing very well. There isn't any problem with "classic" TV in Slovakia. The question is whether we stay passive or prepare for what's next. Digital platforms are more cost-effective costs and offer clearer insights into customer preferences. This opens the door to the creation of new stations that can target customer groups better and more effectively.


Do you see potential for synergy within CME Group&mdash;for example, shared content between Mark&iacute;za and Nova? Aren't there reserves, given that you operate in several other countries?


Definitely. The more content synergies we achieve between countries, the more we can invest. We saw this with the series Matematika zločinu (Mathematics of Crime), which was a joint production between Nova and Mark&iacute;za. Another successful series from Voyo Original was Studňa (The Well), a Czech-Slovak project. But to compete with Netflix, Disney or HBO Max, local content will win us the day.


So, local content is your weapon in competing with Netflix and others?


In the long run, yes. Plus, our presence in seven different markets gives us economies of scale. They aren't as large as those of Netflix, but they make us more competitive than some local players. Operating both television and digital platforms give us strength, because we can amortise content across both, and that means we can make bigger investments in content.


Turning to Mark&iacute;za&mdash;the last year and a half have brought developments and changes under the new ownership, including personnel moves, departures and turbulent events. Were you aware of these developments in the newsroom before taking the job?


I'd been in discussions with CME for about a year, so yes, I was aware.


How did you see the situation back then, as a manager not yet officially on the inside?


Media professionals are smart, creative and passionate, which naturally leads to differing views and debate. It's normal. The company I worked for previously covered events like the Gulf War and the Arab Spring civil conflicts with a team consisting of 65 different nationalities, representing all religions and denominations. The possibility of tensions was always there, both in the company and the newsroom, but clearly defined processes and frameworks made collaboration possible. Mark&iacute;za's news coverage is balanced and impartial, as confirmed by independent expert reviews. The diversity in its content is reflected in the growth of the prime-time evening news program Telev&iacute;zne noviny's market share, now at a five-year high.


But there is still communication chaos at Mark&iacute;za. Shouldn't that be stopped?


I wouldn't call it chaos. It's true that media brands matter to people because they're in people's living rooms: they make people laugh, cry, and inform them. That's why so many are interested in what happens at Mark&iacute;za. The Mark&iacute;za brand will still be here in five years, committed to entertaining and earning viewers' respect. That's what matters.


You're launching a major online news project called TN live. Why is CME backing this model?


Because we see that viewer habits also influence how people consume news, just like all other genres. Young people now get most of their news from different formats, not by sitting down and watching the news at 7 p.m. News also must evolve and succeed across different channels.


What did it cost to launch TN Live in Slovakia?


Television is always expensive, but synergies within Mark&iacute;za and its multi-format newsroom allowed us to keep the initial costs of TN Live low. I think it's a good investment, because, in the long run, it will pay off through online advertising, which will appeal to a viewer segment different from traditional television. It will also pay off as an investment in human capital.


So, what was the specific amount?


In the hundreds of thousands of euros.


How will TN Live affect your advertising revenue?


We were asked a similar question when we launched Voyo. And what happened? TV viewership remained stable, TV advertising revenues remained strong, and we unlocked a new revenue stream. We expect the same in this case. We're certainly not launching TN Live to lose viewers; we're launching it to expand our reach.


One more question on Mark&iacute;za and advertising. Mark&iacute;za has decided to block ad-skipping for cable TV archive content. What kind of reaction do you expect from viewers and advertisers?


We've been operating television stations for 35 years. Our investment in high-quality, mainly local content depends on sustainable advertising revenue. We see this as a fair compromise: safeguarding our advertising revenue while keeping our content informative and entertaining. The big question for today's media is whether local brands can survive against international players with much larger budgets and economies of scale. If they don't, media stops being a local business. Mark&iacute;za's goal is to maintain local business models so that we can compete with international players, and supporting local advertising is central to that.


About Sam Barnett


On May 1, 2025, Sam Barnett became CEO of Central European Media Enterprises (CME). He brings decades of experience in television broadcasting and streaming. He previously served as Executive Director of MBC Group in Saudi Arabia. His career includes roles in the United Kingdom, Kenya, New Zealand and the United Arab Emirates, and time at consulting firms PwC and Arthur Andersen. He studied economics at Cambridge University and holds an MBA from INSEAD.

Petr Novotný, CEO Škoda Group: We will evaluate the possibility of an offer for Talgo once we have more detailed information.

Škoda Group

&Scaron;koda Group&rsquo;s development programme encompasses a full range of mobility solutions, including trains, trams, trolleybuses, electric buses, hydrogen buses, and metro vehicles. It also supports these systems with comprehensive servicing, maintenance, digital systems, signalling, and in-house production of high-level electrical components. The group is increasingly moving towards sustainable, next-generation smart transport solutions for data-connected transport infrastructure in future smart cities, along with 5G connectivity.&nbsp;
&Scaron;koda&rsquo;s digital division focuses on innovating control, diagnostic, and autonomous systems for vehicle operation and maintenance. A key 2024 project was the Smart Depot ecosystem&rsquo;s demonstration of automated driverless &Scaron;koda tram operations in Tampere. In partnership with universities, work also continued on the development of a fully autonomous tram. &Scaron;koda also showcased its Automatic Train Operation system on Latvian commuter trains, cutting energy use by up to 15%. It achieved TBL1+ safety certification for Belgian railways, with ETCS upgrade-ready signalling technology.

The year 2024 was a transformative period for the group, marked by a focus on stabilising production and streamlining supply chains. Strategic markets include the Czech Republic, Slovakia, Finland, Germany, the Baltics, Bulgaria, Italy, and Poland. &Scaron;koda also expanded globally through partnerships with Hyundai Rotem and Hyundai Motor Company, while exploring opportunities in Central Asia and India. The acquisition of Czech company Cegelec strengthened the group&rsquo;s sustainable electric component business.&nbsp;&nbsp;
&Scaron;koda Group secured several major contracts in 2024, including orders for commuter trains for Bulgaria and the private carrier RegioJet, as well as battery trains for Česk&eacute; dr&aacute;hy. Option orders were fulfilled for trams for Brno, Tampere, and the operator RNV (Mannheim, Ludwigshafen, and Heidelberg).&nbsp;
New trolleybus contracts were signed for Česk&eacute; Budějovice, Pardubice, Brno, and Tallinn. In components, &Scaron;koda secured propulsion system contracts for trolleybuses in Genova and Tychy, and electric buses in Ko&scaron;ice. Ongoing projects advanced: tram production began for Prague, Bergamo, and Kassel, alongside the first deliveries to Frankfurt and Cottbus. The world&rsquo;s longest tram, &Scaron;koda 38T, was handed over to Mannheim, with new trams entering service in Bonn and Bratislava. The Bonn tram received the Red Dot Design Award. Production of metro trainsets for Sofia also commenced.&nbsp;&nbsp;
In rail segment, the first Czech battery trains entered service in the Moravian-Silesian Region, and deliveries of 110 RegioPanters for Česk&eacute; dr&aacute;hy were completed. ComfortJets, developed and produced with Siemens Mobility, began operating on the Prague&ndash;Berlin route. Deliveries to Latvia were finalised, and first units arrived in Estonia.

In the trolleybus sector, the &Scaron;koda 24m &ndash; the longest trolleybus in the Czech Republic &ndash; commenced service on the Prague Airport route. Deliveries to Vilnius continued, and contracts for Pardubice and Pre&scaron;ov were completed. &Scaron;koda also supplied traction motors for Landskrona trolleybuses. Modernisation projects included refurbishments of Gothenburg trams, &Ouml;BB couchette coaches, Arriva DMUs, and Lithuanian double-deck units.&nbsp;
In 2024, &Scaron;koda Group posted revenues of EUR 1.1 billion. As production expanded, the workforce remained steady at around 10,000 employees (including Temsa). During the year, the order backlog surpassed EUR 3.5 billion, while the group invested EUR 66 million in CAPEX, including R&amp;D expenditure.
TEMSA&nbsp; This Turkish manufacturer is jointly controlled by &Scaron;koda Group and Sabanaci Holding, operating in 70 countries, with a broad portfolio of urban and intercity buses and coaches. The company has subsidiaries to support sales and provide after-sales services in France, Germany, and the United States. Its main plant in Adana has an annual production capacity of 10,000 vehicles. TEMSA is a major local employer with a workforce of more than 1,400 employees. In 2024, it generated revenues of EUR 480 million. &nbsp;

Finland

Poland

Germany

&Scaron;koda Group, a leading international provider of public transport solutions, consolidates its market position through innovation, digitalisation, and the development of its portfolio of vehicles and services. Growth in order volumes has facilitated significant investment in production capacity and job numbers.

&Scaron;koda Group, as a sustainable mobility innovator, has pledged to allocate 2-3% of its revenue to research and development in this area from 2023 to 2027. One of the 2023 innovations was the Automatic Train Operation system that facilitates greater energy efficiency in rail transport by automatically guiding the train and reacting in real time to minimise energy use by as much as 15%.
&Scaron;koda Group monitors the carbon intensity of its vehicle production and operations. In 2023, an Environmental Product Declaration was awarded to its ForCity Smart Artic X54 tram in recognition of its 92.6% recyclability rate and 98% recoverability rate. &Scaron;koda Group also reached a new milestone in alternative fuels when the next generation of its H&rsquo;CITY hydrogen bus was successfully put to the test in Prague&rsquo;s integrated transport system. &Scaron;koda Group&rsquo;s anti-collision system, a key innovation in this area, helps to prevent injuries and vehicle damage, and is an important step in progress towards the development of an autonomous tram.

Sustainability and innovations

This text was translated from <a href="https://cincodias.elpais.com/companias/2024-08-06/petr-novotny-skoda-evaluaremos-la-opcion-de-una-oferta-por-talgo-cuando-tengamos-informacion-detallada.html">the Spanish original </a>and edited for clarity. Last week, the board rejected your proposal for industrial integration with Talgo. Are you planning to make a cash offer that competes with the offer from Ganz-M&Aacute;VAG?
Our plan is based on extensive understanding of Talgo&rsquo;s situation over the past few years. We want to embark on a long-term project with them to create a European leader in the railway sector. &Scaron;koda and Talgo are highly compatible in terms of products, markets and technology.&nbsp;
When you mention Talgo&rsquo;s situation, do you mean that &Scaron;koda can provide production capacity to expand the portfolio of contracts?
Recently, we invested more than EUR 300 million in strengthening our factories. We started four years ago with an annual turnover of EUR 300 million, which has now risen to EUR 1.4 billion.&nbsp;
A takeover bid (by Ganz-M&Aacute;VAG) has been registered since March, and the Talgo board has indicated its preference for it. Are you prepared to launch a cash offer?
&nbsp;We are surprised that our offer wasn&rsquo;t given due consideration. First, I assure you that our approach to Talgo presents no legal obstacles. Second, we can offer a more detailed proposal once we have evaluated the company.&nbsp;
Could a more detailed proposal include a cash bid?
We&rsquo;ll consider that option once we have some detailed information about Talgo. Our approach takes into account the perspectives of all shareholders, and we aren&rsquo;t looking to gain anything for free. We&rsquo;re an active investment group, but what matters most is our long-term industrial vision. This isn&rsquo;t about what money can buy but the value we can create.
Are &Scaron;koda&rsquo;s options dependent on the Spanish government vetoing the Ganz-M&Aacute;VAG takeover bid, or could we see a takeover battle?
Our project is independent of the Spanish government&rsquo;s actions. This is a matter between companies, and it involves sitting down with the Talgo board to discuss products, technology and markets. Our advantage is in our capability and ambition to create a European giant that covers propulsion systems, light and commuter trains, electric buses, signalling systems, and Talgo&rsquo;s major strengths in high-speed rail. &Scaron;koda has the capacity to perform critical processes from Talgo&rsquo;s perspective, such as aluminium and steel welding, which takes years to develop. We also have approvals in demanding markets such as Germany, where we employ hundreds of people. In Finland, we have a team of 800 employees producing structures for trains and trams through an investment of EUR 150 million in &Scaron;koda Transtech. In Italy, another of our key markets, we&rsquo;ve entered a major contract with Trenitalia to supply wagons, and we&rsquo;re also manufacturing trams for Bergamo and 112 trolleybuses for Genoa.
Where do you see the greatest opportunities with Talgo?
Many countries have developed plans for high-speed rail, but the most immediate demand comes from the European Rail Baltica project, where we already have positions to equip commuter lines that would connect with the new infrastructure. There are also opportunities in the Czech Republic, Slovakia, Bulgaria and Romania. We&rsquo;re confident in our capabilities and believe we can offer support in all these geographies.
Your company lacks experience in high-speed rail. Would you be entering that field if you weren&rsquo;t able to integrate with Talgo?
We aren&rsquo;t planning to enter high-speed rail alone.
Are you collaborating with the Spanish Government? Have you informed the authorities in this country about your project?
Our offer has been communicated to Talgo&rsquo;s board and shareholders. As I&rsquo;ve mentioned, it is a negotiation between two companies. Our approach takes the shareholders&rsquo; perspectives into view, we aren&rsquo;t looking for anything for free.
Are there any politics behind it?
&Scaron;koda, Talgo and other key players in the sector are part of a critical industry that attracts significant investments. Regardless of the country, governments are always interested in these types of business. We operate in more than twenty markets, and it is absolutely normal to maintain good relations with governments.
After initially being refused, are you confident that Talgo&rsquo;s board will let you examine the company&rsquo;s books and conduct due diligence?
I&rsquo;m absolutely convinced. Talgo will be able to appreciate the benefits of our proposal. We&rsquo;ve decided to maintain communication with the company and will do so through a letter that we&rsquo;ll be sending to its CEO. We&rsquo;re insisting on opening a dialogue and will explain the project&rsquo;s benefits to various shareholders whose interests may not necessarily align. Finally, how employees and other actors in Talgo&rsquo;s environment, such as Renfe railway company, see it is important.&nbsp;
Have you contacted Spanish investors who could join your plan, such as Criteria Caixa?&nbsp;
We are aware of Criteria Caixa but aren&rsquo;t planning to collaborate with them at this time. We&rsquo;re learning about their interests through the press.
Do you consider Ganz-M&Aacute;VAG&rsquo;s offer of 619 million euros an accurate valuation for Talgo, or do you find it excessive?
I won&rsquo;t comment on the offer from another market player. It&rsquo;s important to remember that we don&rsquo;t know the details of their proposal.
In Spain, there have been reports that your company lacks financial capacity and is for sale through a mandate to JP Morgan. Is that correct? Has the company been offered to the Hungarian company Magyar Vagon, part of the consortium that made the takeover bid for Talgo?&nbsp;
I categorically deny all these claims. &Scaron;koda is not for sale, and JP Morgan has no mandate regarding this. Our owner, PPF Group, is committed to us for the long term. Concerning our financial situation, we benefit from the strength of PPF, which has assets exceeding EUR 40 billion and an annual profit of EUR 1.45 billion. We have grown from a turnover of EUR 300 million to over EUR 1.4 billion in four years. This period, despite the impact of Covid and supply chain crises on the entire industry, motivated us to focus on strengthening efficiency. In the first half of 2024, we secured EUR 800 million in new contracts, EUR 670 million in revenue, and posted a positive EBITDA of EUR 14 million. These figures speak of a clear performance improvement.&nbsp;
&Scaron;koda Transportation, the division of the group dedicated to producing trains and buses, has declared a negative net result for several years. Do you expect to reverse this situation in the short term?
We aren&rsquo;t the only company affected by recent unexpected events, but &Scaron;koda has continued to grow. Our plan is to stabilise profits in the short to medium term.
Can Talgo workers be assured in the event of potential integration, or should they fear job cuts for the sake of synergies?
They shouldn&rsquo;t be concerned. The two companies are complementary in products and markets and could benefit from savings due to greater economies of scale.
&nbsp;At what capacity are your factories currently operating?
Our annual capacity is seven million hours distributed across seven plants&mdash;five in the Czech Republic, one in Finland, and one in Turkey. We have a total production surface area of ​​300,000 square metres. Over the last decade, we&rsquo;ve developed critical processes for Talgo, such as steel and aluminium welding and quality testing. As for train maintenance services, Talgo is a main reference point for us.
The Turkish plant is for bus production. How can it contribute to Talgo&rsquo;s needs?
The plant has ample capacity and can be adapted to railway production need. Protecting the manufacturer&rsquo;s patents while also being listed in Spain is crucial for the government. How do you plan to address this?
Our approach is straightforward and transparent. Both issues are important, and Talgo, which is rightfully considered an iconic company, would continue to be listed in Madrid. We would preserve jobs and pay taxes in Spain. &Scaron;koda, Talgo and other leading industry players are part of a critical sector, and government interest is to be expected.&nbsp;
Can you provide an investment figure for the industrial plan with Talgo?&nbsp;
As someone in this industry, I would have to evaluate the specific needs first. However, I can highlight our recent EUR 300 million investment to strengthen our factories and the EUR 85 million we allocate annually to research and development.
Five years ago, you weren&rsquo;t leading the company, but &Scaron;koda had already approached Talgo.
I&rsquo;ve reviewed the documents highlighting the complementarity of both companies, and it seems that there was indeed contact.

Source: <a href="https://cincodias.elpais.com/companias/2024-08-06/petr-novotny-skoda-evaluaremos-la-opcion-de-una-oferta-por-talgo-cuando-tengamos-informacion-detallada.html">https://cincodias.elpais.com/companias/2024-08-06/petr-novotny-skoda-evaluaremos-la-opcion-de-una-oferta-por-talgo-cuando-tengamos-informacion-detallada.html</a> &nbsp; Author:&nbsp;<a href="https://cincodias.elpais.com/autor/javier-fernandez-magarino/">Javier Fern&aacute;ndez Magari&ntilde;o</a>

Our strategy is the same as Apple’s. We won’t be buying another bank, says Air Bank’s Strcula

Air Bank

Air Bank regularly introduces pioneering financial services and solutions to the Czech market, leading the way with a strong focus on customers&rsquo; needs. This customer-first approach attracts new clients while increasing lending volumes and income from regular retail banking services.

In 2024, Air Bank attracted numerous accolades for its services, marketing, and customer-service standards. The My Air mobile app, the Air Bank current account, and the Air Bank loan all scooped up awards in the Golden Crown competition. The bank was also named Customer Bank of the Year in the CX ranking Top 100 brands, conducted by KPMG, and in doing so reclaimed its status as the Czech Republic&rsquo;s customer-experience leader for the eighth time in a row. For the sixth time, it received the Randstad Employer Brand Award for the most attractive employer in the banking and insurance sector.
Air Bank is steadily advancing in the digitalisation of its services. By the end of 2024, more than 1.1 million people were using the bank&rsquo;s mobile banking, with almost 500,000 unique customers logging in to the My Air app daily. Furthermore, 90% of all loan applications were submitted online.&nbsp;

In 2024, the bank introduced several services, including for the business community. It expanded its range of mortgage services to include options for foreign real estate and other features. It rolled out a new tablet-based service model featuring the familiar My Air mobile app interface across all branches, which is set to further enhance the already exceptional usage of the app.&nbsp;
Air Bank broadened its offering by incorporating personal investing in US stocks and European ETFs into the mobile app. This service, the first of its kind on the market, is fully localised in Czech. Unity, a new brand launched in 2023 and born of a collaboration between Air Bank and O2 (both part of PPF Group), has received a strong market response by offering benefits to clients when they draw on the services of both companies.&nbsp;

<table>
 <thead>
 <tr>
 <td scope="col">Air Bank's Values</td>
 </tr>
 </thead>
 <tbody>
 <tr>
 <td>Simplicity</td>
 </tr>
 <tr>
 <td>Truthfulness</td>
 </tr>
 <tr>
 <td>Courage</td>
 </tr>
 <tr>
 <td>Friendliness</td>
 </tr>
 </tbody>
</table>

Zonky, the P2P lending platform that has formally been part of Air Bank since 2021, continues to operate under its own name. In 2024, Air Bank launched an innovative payment solution under the newly established Cvak brand that uses account-to-account payments as an alternative to traditional card schemes.

Established 13 years ago to compete with conventional banks by offering straightforward, customer-centric and innovative services, Air Bank is a next-generation retail bank. It is well on the way to achieving its goal of becoming the market&rsquo;s first-choice retail bank, having been the fastest-growing bank in the Czech Republic for the past couple of years. Globally, few other neo-banks can match its size and profitability.

Air Bank is committed to socially responsible business practices, promoting transparency in the provision of financial services, and cultivating the consumer lending market. Both Air Bank and Zonky loans consistently rank at the top of the People in Need Responsible Lending Index.

Multiple Awards

“We are keen to remain a friendly bank that can help people understand their money in as many areas as possible with simple and friendly services.”

Air Bank's Growth

Last year was a record year for Air Bank on multiple fronts. Which metric is most meaningful to you?&nbsp;
The idea behind the merger with Moneta was to become the most relevant retail bank. After we pulled the plug on this deal, and rightly so, we agreed with our shareholders that our future should be built on organic growth.&nbsp;
So, at a time when most of the market was retrenching, we invested even more in new product development, hired new people, and concentrated on growing our customer base organically. And that&rsquo;s where we were most successful last year, welcoming some 186,000 new customers, with the vast majority using us on a day-to-day basis.
You mentioned the Moneta deal. In hindsight, do you think that not going through with it was a good decision?
It was the right decision. The whole deal was actually underpinned by very sound reasoning. Air Bank and Moneta are both retail-centric banks, and they are both intent on doing banking well, digitalising it, investing in technology, and so on&hellip; Merging two banks like that would save you a ton of costs because you don&rsquo;t have to do those things twice over.&nbsp;
The second logical aspect was that we at Air Bank have always been committed to changing the world of banking, to modernising it. And of course, if we want to introduce a new payment method, it&rsquo;s going to be a lot easier for us if we&rsquo;re twice as big.&nbsp;
Moneta and us are similarly sized banks at the moment. We have 1.35 million customers, Moneta has 1.4 million, and although at the time we were discussing the deal those numbers were slightly less on both sides, the merger would have made us the market&rsquo;s number-one or -two bank. And that would have made things much easier to change.
Those are the reasons in the pros column&hellip;
The fact of the matter is that there are two sides to every deal, and the way we structured this one was relatively complex. To put it simply, we would first have had to be bought by Moneta and then we would have merged the two banks to transform ourselves into one big Air Bank.&nbsp; That&rsquo;s a pretty convoluted way of going about it, but it was also the only way to make it work effectively. Three years ago, though, the economic climate began to change quite drastically, with major implications for the economics of the whole deal.&nbsp;
For both sides?&nbsp;
Yes. We weren&rsquo;t too happy with the price Moneta would be buying us for, and, equally, not all the Moneta shareholders were fully on board with the terms of the deal. So we came up with a compromise, but then the process of getting everyone to approve was taking ages and the conditions started to shift so much that it no longer made any economic sense.&nbsp;
And there&rsquo;s no point in moving forwards with a deal if the economics you were projecting at the beginning have evaporated. Especially as the integration of such large banks is a three-year project. It would have stretched the teams to the limit and we would have been hamstrung as to what new things we could offer customers during that integration period. Faced with that, we figured we&rsquo;d rather focus on organic growth instead, and it was a very good decision at that point in time.&nbsp;
Does this mean that acquiring another bank somewhere down the line is not on your radar?&nbsp;
It&rsquo;s not something we&rsquo;re planning, and if you take a look around the market, we wouldn&rsquo;t have anyone to buy anyway. The Moneta merger made sense in that we are two banks that are similar in size and philosophy. The primary benefit you gain from that is economies of scale.&nbsp;
If, on the other hand, we were to merge with a very different bank, that could also make sense because we&rsquo;d complement each other&rsquo;s portfolios, even though the savings effect might not be as great. Still, we can&rsquo;t see any viable entity at the moment. That&rsquo;s why we&rsquo;re better off channelling our energy and time into making more products for our customers.
Jiř&iacute; &Scaron;mejc, the CEO of PPF Group, to which Air Bank belongs, recently claimed that he wants to make the bank the most relevant bank for retail customers in the Czech Republic. What is this relevance?&nbsp;
The use of &ldquo;most relevant&rdquo; is a great way to describe it, because we place all our numbers in some kind of context. Two years ago we said we wanted to grow to twice the size we were then, but there are various ways to go about that. It&rsquo;s not that hard to find customers.&nbsp;
The difficult part is recruiting customers who want to use you as a bank on a day-to-day basis. Our goal of doubling in size therefore only works if we assume that new customers will behave in the same way as they did before the bank expanded.&nbsp;
How&rsquo;s that, exactly?&nbsp;
We want somewhere in the order of 1.5 million customers who consider us their main bank. That&rsquo;s the critical metric for me.
How do you find that out?&nbsp;
You can ask the customers themselves. That&rsquo;s the easiest approach, and sometimes that&rsquo;s what we do. When it comes to data, you&rsquo;ll generally see the highest correlation in indicators such as whether customers are sending their income to an Air Bank account or using one of our cards to make payments. The chances are that these customers are using us as their principal bank.&nbsp;
You were made head of retail banking when Air Bank was founded in 2011. Did the bank have this sort of ambition back then?&nbsp;
The simple answer to that would be no. No one plans that far ahead. It is true, though, that we have always been ambitious to grow into a large-scale bank. Our business model is built on simplifying banking for customers so that they can understand it and find it easy to use. And the way we have chosen to do this is that we prefer to devise one solution for one particular need and make it as perfect as possible. In the words of our product strategy, it&rsquo;s a &ldquo;one size fits all&rdquo; approach. We don&rsquo;t split services into basic and premium &ndash; we want to deliver the best possible service to every single customer.&nbsp;
Can you elaborate on that?&nbsp;
Say someone expects us to offer gold cards, they&rsquo;ll never get one from us, even though there&rsquo;s a particular group of customers for whom a card like that is important &ndash; whether for status or functionality.&nbsp;
You can picture this by comparing the product strategies of household names like Apple and Samsung. They&rsquo;re two successful companies, but Apple&rsquo;s strategy is to have a single phone that&rsquo;s going to be amazing. Samsung, on the other hand, has adopted a strategy of capturing the entire market, so it will build five different models for five different target segments.
And you don&rsquo;t want to do that&hellip;
Exactly. Sure, both of these strategies are clearly successful, but we are more like Apple in our product strategy.&nbsp;
But that strategy, by definition, has a limit to how many customers you can land&hellip;
Yes, just as Apple will never have more than a third of the Czech market, give or take, we too know that there are natural limits to this strategy. Take that one-third number more as a yardstick. You&rsquo;ll recognise the limit when you start to run out of new customers who appreciate that simplicity, in other words, your approach.&nbsp;
And at that point, it&rsquo;s easy to ask yourself whether you should stick to your strategy or switch it up and start making three of those metaphorical phones. We believe that most companies who choose to go down that path of rethinking their product strategy will fail because suddenly they start to change their DNA.&nbsp;
So your ceiling is 1.5 million customers?&nbsp;
Not quite. The banking population in the Czech Republic is 7.5 million, so 1.5 million customers is about twenty per cent of the market. I reckon that, with the current strategy, our ceiling is around the 25 per cent mark. So 1.5 million customers is not the ceiling, but we&rsquo;ll come relatively close to it.
So how do you work towards that ceiling?&nbsp;
We were established as a retail bank focused exclusively on the Czech market. This means that all anyone in our team is thinking about is how to make the best possible product for the Czech retail market. That gives us a significant advantage over other banks, which have to focus on entrepreneurs, businesses, and municipalities as well.&nbsp;
Another point is that we&rsquo;re a greenfield project. So we&rsquo;ve got modern systems that are tailored to our needs and a management system that supports it all. This gives us a lot of flexibility. This is reflected, for example, in the fact that we have eleven releases of the app per year and we are constantly changing and improving it to make it as user-friendly as possible &ndash; adding features, removing unnecessary ones, or fine-tuning them.&nbsp;
Fifty per cent of our development capacity is allocated to continuously improving what we already have, and we are constantly striving to improve. It may sound glib, but we&rsquo;ve been riding on that mindset of &ldquo;change and improve&rdquo; since the very first day we started delivering our services to customers. Looking back ten years, they may seem pretty trivial at times, but they&rsquo;ve made a huge impact on the market over time.&nbsp;
Can you give me an example?&nbsp;
For instance, at the time we were starting to build our first ATMs, people were annoyed that if they needed to withdraw, say, two thousand, their bank&rsquo;s ATM would only give them a two-thousand-crown banknote. Try paying with that in your local corner shop. We were the first to say we were going to do things completely differently and let the customer choose the banknotes they wanted. Everyone scoffed at us back then, but now, whatever ATM you use, you&rsquo;ll find a choice of banknotes. Even those of the banks who initially mocked us.&nbsp;
Most recently, we&rsquo;ve started offering the Cvak payment method. This isn&rsquo;t actually so much about Air Bank itself, but an agreement with other like-minded banks on the market. Because we know that people don&rsquo;t want to use cash. As we all know, even merchants don&rsquo;t want to take cash. And yet there are still lots of retailers who aren&rsquo;t willing to accept card payments either.&nbsp;
How come?&nbsp;
There are three reasons: one group wants cash because they have suppliers they can only pay in cash, or they&rsquo;re operating on the margins of the law and don&rsquo;t want money flowing through their accounts.&nbsp;
The other two thirds that don&rsquo;t have terminals, preventing you from paying with anything other than cash, would actually be happy to accept cards. But either it&rsquo;s expensive for them &ndash; if you&rsquo;re skimming one-and-a-half to two-and-a-half per cent of their turnover, that&rsquo;s a lot for them, or else the admin is too complicated for them.&nbsp;
That&rsquo;s why we&rsquo;ve teamed up with a few other banks to launch Cvak, an app that makes it easy to pay digitally at merchants without a terminal.&nbsp;
What about the &ldquo;pay a contact&rdquo; service, which everyone has been talking about in recent months?&nbsp;&nbsp;
That&rsquo;s a feature we could have done with five years ago. But its potential to help people is now pretty much exhausted. You can use it, for example, if you pay your cleaner regularly and you don&rsquo;t know her account number or don&rsquo;t want to have to fill in her account number every time. Nowadays, however, the vast majority of banks automatically suggest frequently used accounts. Or people pay using a QR code. People have simply already found other ways to deal with these situations.
Are these new tools helping you to grow?&nbsp;
Absolutely. For example, we are now one of the first banks to let you apply for a mortgage on your mobile phone. Is this some sort of big breakthrough? Not in and of itself. But I promise you that, in ten years&rsquo; time, every bank will be doing it. Being first movers and the first to master it gives us a huge advantage because we can then apply these principles to more and more products.&nbsp;
Other banks may not need to offer it yet because they have a large network of branches where you can go in and apply for a mortgage. We don&rsquo;t have that. Our branch network is only there to help guide customers if they feel uneasy in the digital sphere for any reason.&nbsp;
Speaking of mortgages, how do you think the mortgage market will play out this year?&nbsp;
The market is bouncing back, largely because people are feeling more optimistic again. They&rsquo;re happy to invest more and go into debt for longer periods of time. Needless to say, this has given the property market a boost. There&rsquo;s more construction going on and more choice for buyers. From that angle, this year is going to be much better than last. We&rsquo;re already seeing 90% year-on-year growth in some months. Taking the year as a whole, there won&rsquo;t be such a big jump, of course, but the market is recovering.&nbsp;
How important is this to you as a bank?
We treat mortgages as a service for customers who already use us for their day-to-day banking. Different banks take different approaches. Some use mortgages as an avenue for acquisition &ndash; if I give you a mortgage, you&rsquo;ll come to me with the rest of your banking needs. We do it the other way around. If you&rsquo;re already a customer, we want you to have the best service, and that extends to mortgages.&nbsp;
But we have no interest in chasing new customers by running around the market and trying to offer the best mortgage deal. That also defines how aggressively we communicate this to the outside world and how much we&rsquo;re willing to work with third parties, who still play an important role. Over fifty per cent of that market is brokered in some way by other parties, although changes are afoot this year.&nbsp;
And at your bank?&nbsp;
For us, it&rsquo;s zero, precisely because we treat mortgages as a service for existing customers. And we&rsquo;re quite capable of helping existing customers ourselves.&nbsp;
So how important is it to you for the CNB to keep cutting interest rates?&nbsp;
Not much in terms of mortgages. But as interest rates come down, other factors come into play. In general, cutting rates encourages people to spend more, which helps the economy to grow. This pushes down some costs, so we want those reductions simply because we are keen for our customers to be better off. As far as mortgages themselves are concerned, we&rsquo;re looking at how we can pass on the rate cuts to our customers as soon as we can.&nbsp;
How?&nbsp;
Some customers already have a mortgage with us. We reach out to them off our own bat to let them know that the market situation has changed, and that, if they want, we&rsquo;ll adjust their fixed rate for the upcoming period. Then there&rsquo;s another group who have a mortgage with another bank. They can transfer it to us at the new rate, which is often lower than the rate they got two years ago with their other bank. So both these approaches usually result in our customers getting a better mortgage rate.
Source: Forbes Author: Tať&aacute;na Lyskov&aacute;

PPF 2023 – Annual Yearbook

At PPF, we are exploring various synergies and using AI to change the way the entire company operates, says O2 CEO Jindřich Fremuth

O2 Czech Republic a.s.

Operating within a highly competitive, saturated telecommunications market, O2 Czech Republic stands out by combining the most affordable fixed internet services, a superior mobile network, and exclusive television content. While mobile telecommunications services are its main revenue stream, O2&rsquo;s fixed internet covers 99% of the country&rsquo;s inhabited territory, positioning it as the largest internet provider for both businesses and households. O2 is also one of the country&rsquo;s biggest providers of hosting, cloud services, managed services, and ICT.&nbsp;&nbsp;
Developing and offering pioneering telecommunications services such as cybersecurity and financial services, including device insurance and mobile travel insurance, is a hallmark of O2&rsquo;s approach. Virtual operators also offer their services via the O2 mobile network.&nbsp;

In collaboration with Air Bank, O2 Czech Republic introduced Unity, integrated offering for customers of both companies that allows them to get the best possible experience and value while managing their telecom and financial needs in one place. This increases convenience and loyalty while providing a platform for cross-selling opportunities.&nbsp;
Unity, along with several other customer-focused initiatives &ndash; such as the doubling of unlimited data days on mobile plans in 2024 &ndash; reflects a broader commitment to care embodied in the new creative concept, &ldquo;More of Life.&rdquo; This concept centres on enhancing the customer experience and leveraging technology in meaningful and efficient ways.&nbsp;&nbsp;
At the end of 2024, the company had over six million mobile clients and over a million fixed broadband users. O2 TV has solidified its position as the most popular IPTV service in the Czech Republic, with almost a million O2 TV users at the end of 2024. Oneplay, a partnership between O2 TV and CME&rsquo;s Voyo streaming platform introduced in March 2025, marks the next evolution of O2 TV. It unifies streaming and live television into a single, user-friendly service with a broader content library and enhanced features.&nbsp;
Other areas O2 is developing include artificial intelligence and big data technology, both handled by its Dataclair.ai&mdash;Artificial Intelligence Centre. O2 is also active in smart city infrastructure and autonomous mobility of the future.

As the country&rsquo;s leading integrated telecommunications operator, O2 Czech Republic&nbsp;delivers a comprehensive suite of voice, internet, and data services to residential customers, SMEs, corporations, and government entities. It&rsquo;s O2 TV once again redefined the competitive landscape through Oneplay, its merger with CME&rsquo;s Voyo video streaming service, while Unity, the recent partnership with Air Bank, further strengthens the company&rsquo;s track record as an industry innovator.&nbsp;

"With the help of the latest technologies, we are here to make the lives of all of our customers easier."

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