PPF Group N.V. reports its audited consolidated financial results as at 31 December 2019 under IFRS
At the end of last year, PPF Group’s total assets reached EUR 48.6 billion and its net profit for 2019 exceeded EUR 1 billion.
- As at the end of 2019, PPF Group’s assets reached EUR 48.6 billion, up by 8% year-on-year (EUR 45.1 billion as at 31 December 2018).
- As at 31 December 2019, equity attributable to shareholders amounted to EUR 8.8 billion (EUR 7.5 billion as at 31 December 2018).
- Net profit for the full year 2019 reached EUR 1,005 million, growing 16% year-on-year (net profit for 2018 amounted to EUR 865 million).
“2019 was another successful year for the Group. All key assets in consumer finance, banking, telecommunications and real estate have again shown stable profitability. The main driver was the profitability of the financial holdings together with the telecommunications, where we show the full year impact of the acquisition of Telenor assets in Hungary, Bulgaria, Serbia and Montenegro. We see this as a confirmation of our long-term strategy of portfolio diversification across industries as well as the regions. With this strategy and the results of the previous years, PPF Group is prepared to face the global economy slowdown expected in 2020,” commented Kateřina Jirásková, Chief Financial Officer, PPF Group.