PPF Group N.V. announces audited consolidated financial results for the year ended 31 December 2014, in accordance with IFRS
PPF Group’s total assets reached EUR 21.9 billion at the end of last year. PPF Group generated revenue of EUR 7 billion and its net profit exceeded EUR 370 million.
- PPF Group’s revenue rose by almost EUR 800 million year-on-year (+12%) to EUR 7.007 billion.
- Equity attributable to shareholders was EUR 4.879 billion as at 31 December 2014 (EUR 5.062 billion as at 31 December 2013).
- As at 31 December 2014, the Group’s assets grew by 5% year-on-year to EUR 21.893 billion.
- For 2014, PPF Group generated a net profit of EUR 372 million.
“The year-on-year growth of our assets and revenue is mainly due to our acquisition of O2. However, primarily the decline in the Russian economy and the devaluation of the rouble had a negative impact on our profitability over the year”, Kateřina Jirásková, PPF Group’s CFO, commented on the results for 2014, adding: “This year, we are continuing with measures to mitigate the impacts of the Russian crisis on our performance and focus on achieving further growth in our consumer finance business in Asia. In the Czech Republic, the crucial project this year is the demerger of the CETIN network infrastructure company from O2.”