The PPF Group has further significantly increased its value in the first 6 months of 2010: the profit attributable to Group shareholders was EUR 83 million
PPF Group N.V. announces its consolidated financial results for the first half of 2010
- Compared to 31 December 2009, the equity of the PPF Group increased by EUR 333 million to almost EUR 4.3 billion.
- Compared to the end of the year 2009, the assets of the PPF Group increased by more than EUR 1.0 billion to almost EUR 12 billion.
- The profit attributable to the shareholders of the PPF Group as of 30 June 2010 was EUR 83 million
- The results disclosed in accordance with the International Financial Reporting Standards (IFRS) were audited by KMPG.
“We are satisfied with the results for the first half of this year. Progress has been made in geographical diversification of our assets in the countries of Central and Western Europe through the EPH. We have successfully restructured the Eldorado retail chain in Russia and many new assets. The profit may seem relatively low with respect to the Group’s growth, but it was technically affected in the middle of the year by recognition of hedging against exchange rate risks. Due to hedging, the movements in the exchange rates of local currencies cause profit to spill over into increases in capital. It is therefore essential in our case to note the marked growth of the Group’s capital. I expect the value of the Group for the entire year 2010 to increase by EUR 1 billion.”
Jiří Šmejc, shareholder of the PPF Group
|6M 2010||EUR mil|
|Profit attributable to PPF Group shareholders||83|
Consolidated financial statements of PPF Group N.V. for the first half of 2010 are available at www.ppfgroup.nl.