PPF Group achieves record profit in 2008: the value of PPF Group’s assets exceed EUR 10.5 billion
- Total assets grew 6.5% year-on-year, from EUR 10.077 billion in 2007 to EUR 10.730 billion in 2008
- Total equity grew 160% year-on-year, from EUR 1.426 billion in 2007 to EUR 3.703 billion in 2008
- Net profit for the year 2008 has reached EUR 2.489 billion, compared to EUR 244 million in 2007
Financial statements for the HY 2008 include the impact of the transaction with Generali Group, which concluded in January 2008. This transaction resulted in the creation of a new entity, Generali PPF Holding B.V., in which PPF Group controls a 49% stake, while Generali’s holds 51%. Therefore PPF Group‘s consolidated financial statements do not currently reflect the financial results of the insurance company holding.