PPF Posts Stable Profits Driven by Strong Performance in Core Businesses

"Our financial services, telecommunications and media businesses were the main drivers of the Group's overall profit in the first half of the year. These stable results provide a solid foundation for the Group's sound investment ambitions," said PPF Chief Financial Officer Kateřina Jirásková.

Over the past ten months, the Group has invested in several companies in mature European markets and strengthened its presence in Central and Eastern Europe. This period also saw PPF continue its previously announced exit from the financial services sector in Asia.

In February, PPF raised its stake in Viaplay to 29.29%, becoming one of the Swedish streaming platform operator's two largest shareholders. In April, PPF exercised an option to increase its stake in InPost and became the largest shareholder in one of Europe’s leading e-commerce parcel locker operators. In May, through its electronic toll system company ITIS Holding, PPF became a co-owner of German company Vitronic, a leading provider of machine vision and road safety solutions. In October, PPF closed a previously announced transaction that established a partnership with the global technology group e& in Central and Eastern European telecommunications, under the e& PPF Telecom Group brand.

Earlier this year, PPF also agreed to sell Home Credit assets in Vietnam and India. The transactions, with a combined financial consideration of approximately EUR 800 million, are expected to be settled next year.

Figures in brackets indicate a loss or decrease.