Investment group Penta’s net profit fell by 15 percent yr/yr to CZK 11.6 billion in 2022, which was the second best result since the company’s foundation in 1994, and its overall sales grew by 10 percent to CZ 192 billion, Penta announced.
Penta’s units Dr. Max, Slovalco and Empik were the main contributors to the group’s overall results. Positive development was also recorded by Penta Real Estate, Primabanka, Privatbanka and the Polish company Iglotex.
Penta invested over CZk 19 billion in the development of its companies and projects last year, half as much as in 2021. The total assets of its portfolio companies increased by CZK 79 billion to CZK 343 billion.
“I appreciate the fact that our companies were able to deliver such great results again in a crisis year, which is a testament to the strength and resilience of our portfolio. Despite the overall economic instability, we have confidence in our companies and are reinvesting all profits in them,” Penta co-founde Marek Dospiva said.
This year, these efforts will be directed at the completion of the first phase of the iconic Masarycka project in Prague, which will be opened after more than two years of construction, he added.
In Slovakia, Penta Group opened a new-generation hospital in Bratislava, its most significant investment in the healthcare sector, amounting to CZK 6 billion,
Penta’s media companies, Vltava Labe Media and News and Media Holding, managed to defend their revenues despite significant increases in paper and distribution prices.
On the other hand, health insurer Dovera had a negative impact on the group’s value due to unfavourable developments in the legislative environment in Slovakia,the company announced.
Penta Real Estate has an increasingly important position in Penta’s portfolio. Last year, it sold 377 flats and another 1,765 dwellings are under construction. Last year, it also invested more than Kc8bn in new land and in the completion of existing projects in Prague and Bratislava. At the end of 2022, Penta Real Estate managed assets worth more than CZK 27 billion.
Pharmacy chain Dr. Max continued to expand on its markets in Central Europe and Italy. Total investments amounted to almost Kc4bn and were focused on opening new pharmacies and strengthening logistics capacity.
Penta also expanded its healthcare business in the Czech Republic through Penta Hospitals, where it invested mainly in expanding its network within long-term residential social services.
Lottery company Fortuna Entertainment Group returned to positive results after negative development in the previous years.
In the last quarter of 2022, Penta also completed the sale of its 51 percent ownership stake in Empik Group in Poland to the company’s management.
Penta is a Central European investment group founded in 1994. It is active mainly in healthcare, financial services, manufacturing, retail, real estate development and media. Its portfolio companies employ more than 40,000 people. Penta operates in more than ten European countries, with offices in Prague, Bratislava and Warsaw.
Source: PENTA and CTK
