PPF Group N.V. announces audited consolidated financial results for the 12-month period ended 31 December 2016, in accordance with IFRS standards
At the end of last year, PPF Group’s total assets exceeded EUR 27 billion, while net profit for 2016 was over EUR 1 billion.
Key performance indicators:
- PPF Group’s total assets at the end of 2016 were EUR 27.0 billion, a 25% year-on-year increase (31 December 2015: EUR 21.6 billion)
- Equity attributable to shareholders as at 31 December 2016 was EUR 6.4 billion (31 December 2015: EUR 5.2 billion)
- PPF Group achieved a net profit of EUR 1.1 billion for the year, of which over one third was derived from one-off transactions.
Commenting on the results for 2016, Katerina Jiraskova, PPF Groups’ Chief Financial Officer, said:
“Over the course of last year, we recorded significant growth, mainly thanks to Home Credit’s expansion in Asia and the stabilization of the Russian market. We also saw positive results from PPF banka and Air Bank, our two banks in the Czech Republic. The telecommunications infrastructure company CETIN, another strategic asset for us in the Czech Republic, also made a profit.
“2016 was a year of investing into innovative ventures and seizing new commercial opportunities, but also a year in which we sold several of our assets, such as Eldorado in Russia as well as a number of real estate properties and projects.”