PPF Group reported first ever loss of EUR 291m

Published: 24.08.2021 Related countries:  New Zealand New Zealand, Australia Australia

The group stated that Home Credit had the largest share in the negative result, while Telecommunications companies made a positive contribution.

For the first time in its history, PPF Group reported a full-year loss in 2020, reaching EUR 291m. A year earlier, it had a net profit of over EUR 1bn. In the annual report, the group stated that Home Credit, whose activities were dramatically affected by the Covid pandemic and the global economic slowdown, had the largest share in the negative result. On the other hand, the telecommunications companies Telenor CEE, O2 and CETIN made a positive contribution. The group also said that the way of thinking and approach to business of its late founder Petr Kellner has deep roots in PPF, and therefore PPF will fulfill his legacy and implement ideas and plans for future development.  

Source: Daily news | ČIA news
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