PPF Group N.V. announces audited consolidated financial results for the year ended 31 December 2013, in accordance with IFRS
The total value of PPF Group’s assets reached EUR 20.9 billion by the end of 2013. The Group generated over EUR 6.2 billion of revenue and posted a net profit of EUR 450 million.
- PPF Group’s revenue rose by EUR 1.25 billion y-o-y (+25%) to EUR 6.283 billion.
- As at 31 December 2013, equity attributable to shareholders stood at EUR 5.1 billion (EUR 5.3 billion as at 31 December 2012).
- As at 31 December 2013, the Group’s assets decreased slightly by 3% y-o-y to EUR 20,903 million.
- During 2013, PPF Group generated strong net profit of EUR 450 million. This result is in line with the underlying profit performance of the Group in 2012, when the one-off impact of a divestment of assets generated an extraordinary level of EUR 727 million in net profit for the year.
“During 2013 we continued to diversify the Group in terms of geographies and sectors, and significantly expanded our real estate portfolio notably in Western Europe, mainly through the acquisition of office space in the Netherlands. Over the year, we adopted measures in response to the economic slowdown and changes in banking regulation in Russia in order to mitigate the impact on the performance of our key banking assets. Our diversification strategy has meant that Home Credit’s challenges faced in Russia have been partly offset by our growing numbers in Asia, in particular those generated by the financial services in China and Vietnam. However, the most important investment announced last year, the acquisition of 65.9% of O2 in the Czech Republic and Slovakia, has not been incorporated into our results for 2013,” said Kateřina Jirásková, PPF Group’s Chief Financial Officer, commenting on the results for 2013.