CS Facts and Strategies PPF Group is an international investment group founded in the Czech Republic in 1991. It has grown to manage operations in 25 countries across Europe, North America, and Asia with financial services, telecommunications, media, real estate, mechanical engineering, and biotechnology as its core lines of business. Our priority is to create value by developing innovations, implementing new technologies, and improving the quality of management. PPF’s thirty-year history, its present-day standing, and its vision tell the story of the drive, work ethic, and professionalism of the many people who work to fulfill the vision and courage of Petr Kellner, PPF’s founder. PPF Group in Numbers VISION AND STRATEGY HISTORY PPF IN THE CZECH REPUBLIC Total Assets 40 EUR Billion as of June 30, 2021 2014 – 2019 Net Profit 3.68 EUR Billion cumulatively for the PPF Group Taxes, Social and Health Contributions in the Czech Republic in 2020 6.9 CZK Billion Employees in the Czech Republic 14 000 Equity by Segment As of 30 June 2021 1 Home Credit, Air bank, Zonky, PPF banka, ClearBank, Mobi Banka, Moneta Total Employees 82 000 In 25 countries, on 3 continents (as of June 30, 2021) Worldwide Charitable Donations in 2020 835 CZK Million Dedicated to non-profit and CSR projects, support for education, culture and sports, healthcare and local communities PPF GROUP IN NUMBERS Vision and Strategy HISTORY PPF IN THE CZECH REPUBLIC Our Vision PPF Group’s values and business strategies have remained constant in the areas that matter since its inception. We believe that growth and success are nurtured by developing long-term investment projects in both traditional and new sectors and by building modern infrastructure within a digital world. Our solid foundations were built by welding Czech talent and capabilities with global opportunities. Investments into innovation and advanced technologies combined with efficient management and operations enable PFF Group companies to offer highly competitive services that are constantly honed and updated to deliver value to our customers while also often inspiring others and facilitating a maturing of the market as a whole. We are also keenly aware of the broader social responsibility we shoulder. We go out of our way in our business to support talent and unlock opportunities for those who have the courage to follow their own path, change the world for the better, and inspire others to do the same. Our Strategy We seek out possibilities and opportunities to develop companies, commerce, and services not only in fast-developing and high-potential fields, but also in areas that may be overlooked or perceived as too risky. Our priority is to create value at the companies in which we invest. We remain undaunted by the prospect of entering new markets and new – often synergetic – fields. When considering new business, we primarily target markets with high retail potential and those with rapidly developing infrastructure, and we focus on transactions where our contribution exceeds €100 million. We prefer to act as the majority owner, but we are also keen to work with partners espousing a business philosophy that dovetails with our own. We have built and will continue to shape PPF Group as a portfolio of companies where sectoral and geographical diversification offers stability and opportunities for vertical integration. We scout companies that need to restructure as we can provide them with strong financial backing, implement strict financial and corporate discipline, introduce promising business models, and improve the quality of management. The rate of returns on our investments relies on the professionalism and knowledge of our people and on the experience and expertise we have gained in the formation and restructuring of numerous companies in Central and Eastern Europe, Russia, and Asia. Our teams, which through their efforts feed PPF’s success, share a common vision, as well as a high level of commitment, loyalty, and professionalism. No matter where we are, we strive to nurture and grow the values that underpin our approach to business. Our watchwords are readiness, responsibility, and creativity. We bring with us a spirit of enterprise, a global perspective, and the ability to spot and embrace new business opportunities. We are sensitive to and actively promote the need for sustainability and corporate social responsibility, and we respect the cultural and political differences of the markets where we operate. We foster relationships with the public sector and help build communities in all the countries where we do business. PPF GROUP IN NUMBERS VISION AND STRATEGY History PPF IN THE CZECH REPUBLIC 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1991 The Founding of PPF 1991 In September 1991, Petr Kellner and his partners set up a company named Správa Prvního privatizačního fondu with an initial registered capital of 100,000 Czechoslovak crowns to prepare for the forthcoming voucher privatization. The first four PPF privatization funds were registered at the end of the year. 1992 First Wave of Voucher Privatization 1992 PPF investment funds netted more than 3% of all investments in the first wave of voucher privatization as more than 186,000 people opted to invest with the company. The funds themselves later held shares in 202 businesses with an aggregate nominal value of CZK 4.9 billion. 1993 A Bold Foray into Russia 1993 At the beginning of the year, PPF-R (Russia) was established to capitalize on the experience acquired by PPF in the Czech voucher privatization program to participate in the Russian Federation’s privatization process. 1994 Second Wave of Voucher Privatization 1994 PPF set up two mutual funds for the second wave of voucher privatization, which brought in a further 140,000 shareholders and stakes in 45 companies worth a nominal value of CZK 2.4 billion. 1995 Investment into Česká pojišťovna 1995 PPF began the process of acquiring Česká pojišťovna, the largest insurer in the Czech Republic, by purchasing a 20% stake. 1996 PPF Embarks on the Modernization of Česká pojišťovna 1996 A shareholder agreement made PPF responsible for the management of Česká pojišťovna and for spearheading its root-and-branch restructuring and modernization. Ladislav Bartoníček was appointed as the company’s CEO. 1997 Establishment of Home Credit 1997 As part of the restructuring of Česká pojišťovna’s investment portfolio, Home Credit, a small Moravia-based leasing company, was transformed into a consumer finance platform. Česká pojišťovna Swiftly Reacts to Massive Floods 1997 Česká pojišťovna successfully handled claims stemming from the disastrous flooding in Moravia and played a major role in mitigating the damage incurred. 1998 The Russian “Default” 1998 The ruble’s tailspin and a harsh economic crisis in Russia pushed PPF into the red. The group temporarily pulled out of the Russian market, selling off its remaining assets. 1999 Shift to Financial Services 1999 PPF sold its stakes in several industrial enterprises and started to implement a fundamental shift in its business strategy towards retail financial services. PPF acquired eBanka, the first purely electronic bank in the Czech Republic, from the Expandia group. Jára Cimrman Theatre in Prague 1999 PPF started sponsoring the beloved Jára Cimrman Theatre in Prague. 2000 Summer Shakespeare Festival 2000 PPF became the main sponsor of the Czech Republic’s Summer Shakespeare Festival for the first time. Acquiring a Majority in Česká pojišťovna 2000 PPF exercised an option to purchase further shares and gain a majority in Česká pojišťovna. 2001 Foundation of PPF banka 2001 PPF purchased a majority of shares in První městská banka, now PPF banka, from the City of Prague. The Josef Sudek Studio 2001 PPF set about rebuilding and renovating photographer Josef Sudek’s legendary studio in Prague following a devastating fire. PPF Takes Control of a 90% Stake in Česká pojišťovna 2001 The Czech Government decided to sell its 30% stake in Česká pojišťovna to PPF Group, which brought its stake in the company to over 90% as it progressed towards 100% ownership of the insurance company. 2002 TV NOVA Acquisition and a Return to Russia 2002 PPF took control of TV Nova, the first private television station in the Czech Republic. PPF also returned to Russia where it started offering consumer financing (through Home Credit) and insurance services. Establishment of a Foundation 2002 The Educa Foundation, the first family foundation set up by Renáta and Petr Kellner, was formed and plans were laid to build the Open Gate boarding school in Babice, near Prague. 2003 PPF Asset Management 2003 PPF Asset Management was formed, gradually establishing itself as the investment hub for all companies within PPF Group. 2004 Entering the Chinese Market 2004 PPF Group opened a branch office in Beijing. Sale of TV Nova 2004 PPF sold TV NOVA to Central European Media Enterprises Ltd. (CME), a multinational media corporation. 2005 Jiří Šmejc Joins PPF 2005 Jiří Šmejc became a 5% shareholder in PPF. Open Gate 2005 Open Gate opens its doors for its first school year with the support of the Kellner Family Foundation. 2006 Home Credit Expands Eastwards 2006 Home Credit launched consumer finance services in Kazakhstan, Ukraine, and Belarus. PPF Group also started offering insurance on these markets. 2007 Ladislav Bartoníček Becomes a PPF Group N.V. Shareholder 2007 Ladislav Bartoníček became a minority shareholder in PPF Group N.V. Home Credit Launches in China 2007 Home Credit launched operations in China. PPF acquired a stake in Nomos, one of Russia’s leading private banks. 2008 Generali PPF Holding 2008 PPF and Italy’s Assicurazioni Generali set up Generali PPF Holding, which went on to become one of the largest insurance groups in CEE and CNS countries. PPF Investment into Polymetal 2008 PPF became a significant shareholder in Polymetal, one of the leading Russian silver and gold mining companies. 2009 Investment into Russia’s Eldorado 2009 PPF bought a stake in Eldorado, one of Russia’s largest domestic appliance and electronics retail chains. Establishment of EPH 2009 PPF, along with J&T and Daniel Křetínský, formed Energetický a průmyslový holding. Establishment of the Kellner Family Foundation 2009 The Kellner Family Foundation was established to support education in the Czech Republic. 2010 A Chinese Consumer Finance License 2010 PPF Group became the first foreign company licensed by the Chinese regulator to provide standalone consumer finance services. Merging Foundations 2010 The family foundations were merged, with The Kellner Family Foundation taking over and further developing all projects. Jean-Pascal Duvieusart Becomes a Shareholder in PPF Group N.V. 2010 Jean-Pascal Duvieusart became a minority shareholder in PPF Group N.V. 2011 Air Bank Emerges as a Game Changer on the Czech Market 2011 Air Bank, a new retail bank specializing in online services, was established. Sazka Acquisition 2011 PPF acquired a stake in lottery company Sazka in insolvency proceedings. The shares were sold at a profit in 2012. 2012 Biotechnology Company SOTIO Joins PPF 2012 SOTIO, a biotechnology company developing new treatments for cancer and autoimmune diseases, became a part of PPF Group. Jiří Šmejc Becomes a Shareholder in Home Credit and Air Bank 2012 Jiří Šmejc sold his 5% stake in PPF Group to other shareholders and became a minority shareholder in Home Credit and Air Bank. 2013 Generali PPF Holding Exit 2013 In a two-part transaction, PPF sold its 49% stake in Generali PPF Holding to the Generali Group and kept selected insurance assets in Russia. O2 Arena 2013 PPF bought Bestsport Arena and in doing so became the owner of Prague’s O2 Arena, one of the most modern multipurpose arenas in Europe. 2014 O2 Acquisition 2014 PPF purchased O2 Czech Republic, the largest Czech telecommunications operator, and O2 Slovakia, the number-three on the Slovak mobile market. Consumer Financing in China 2014 PPF was granted a nationwide license to provide consumer finance services in China. 2015 Establishment of CETIN, Separation of Infrastructure from O2 2015 PPF voluntarily separated its telecommunications activities. O2 Czech Republic was split into Česká telekomunikační infrastruktura (CETIN), which owns the fixed and mobile networks, and O2, a purely retail operator. This split and restructuring increased the value of both companies. 2016 Eldorado Exit 2016 PPF Group and EMMA Capital sold their stakes in Eldorado, Russia’s second-largest electronics and home appliance retailer. PPF Group’s 25th Anniversary 2016 PPF Group celebrated its 25th anniversary. 2017 PPF Group Enters the E-Commerce Industry with Mall Group 2017 PPF Group bought a stake in Mall Group, Central Europe’s largest e-commerce platform. 2018 Expansion in Telco Business 2018 PPF Group acquired Telenor’s telecommunications assets in Hungary, Serbia, Montenegro, and Bulgaria. A Return to Industry 2018 PPF Group acquired Škoda Transportation, the largest transport engineering manufacturer in Central and Eastern Europe. 2019 Highway Tolls in the Czech Republic 2019 The Czech Ministry of Transport awarded a 2018 order to operate a new toll system in the Czech Republic to a consortium comprised of PPF Group’s CzechToll and its partner SkyToll, with the contract taking effect the following year. CME Acquisition 2019 PPF signed an agreement to take over all assets, television stations, and other media resources under Central European Media Enterprises Ltd. in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia. PPF Foundation 2019 PPF Foundation was established as a platform for the group to support non-profit projects. 2020 Coronavirus Aid 2020 In the fight against the coronavirus epidemic, PPF Group donated protective equipment, test kits, and other medical supplies to the Czech Republic worth CZK 105 million. Beyond the Czech Republic, medical supplies were donated to a further eight countries: India, Indonesia, Kazakhstan, Vietnam, the US, the Philippines, Montenegro, and Bulgaria. In total, PPF Group donated more than CZK 200 million in much-needed supplies. PPF Telecom Group 2020 PPF separated telecommunications infrastructure from the retail side of its three Telenor-branded mobile operators in Bulgaria, Hungary, and Serbia to form CETIN Group, the infrastructure backbone of PPF Telecom Group. CME Incorporated into PPF 2020 PPF completed the acquisition of Central European Media Enterprises Ltd. (“CME”) and held full control over CME’s operations in the Czech Republic, Slovakia, Romania, Slovenia, and Bulgaria. Regulatory approval from the European Commission, national regulators in certain countries, and CME shareholders was required to complete this transaction. TEMSA 2020 Building on its transport engineering investments, PPF Group forged a partnership with Sabancı Holding, a financial and industrial conglomerate in Turkey, and together they acquired Temsa, a leading Turkish bus manufacturer, in a 50:50 split. PPF Sells its Stake in NBE-Therapeutics to Boehringer Ingelheim 2020 The sale of NBE-Therapeutics to Boehringer Ingelheim marked the first major biotech exit for PPF. PPF GROUP IN NUMBERS VISION AND STRATEGY HISTORY PPF in the Czech Republic Our Roots, Our Home We are deeply rooted in the Czech Republic, the place we call home. No matter where we do business around the world, we present ourselves as a Czech enterprise with a Czech pedigree. We actively promote social, educational, and cultural relations between the Czech Republic and the countries where we operate. Just as we try to bring home the inspiration and opportunities we have acquired abroad, we want to help good Czech ideas grow around the world. We Support Competitiveness We help to forge a competitive, robust Czechia by building modern, secure, and open data infrastructure, developing innovative programs at traditional engineering companies, offering advanced digital services, and investing in biotechnology development and research. PPF’s companies can only thrive if the domestic environment is stable and our people are ambitious, proficient, and skilled. Employment and Global Opportunities We employ over 14,000 people in the Czech Republic, many of whom work in highly specialized professions. A fair share of the Group’s companies are active outside the Czech capital, creating skilled jobs in traditional and new fields in and around Plzeň, Ostrava, and Brno. PPF a.s., the main consultancy overseeing the entire group’s management, is headquartered in Prague, along with other key PPF Group companies. We give many Czechs the opportunity to show their worth on an international stage, working for our companies literally all over the world, and for the most part in management positions. We post more Czechs abroad in management positions than any other company. Our CSR Programs in the Czech Republic We share our knowledge and opportunities, opening them up to society in the Czech Republic and beyond. Since establishing PPF, we have donated CZK 2.56 billion to not-for-profit projects in the Czech Republic. PPF Foundation is dedicated to domestic topics and Czech society, while The Kellner Family Foundation has focused its philanthropic activities on education. Many other PPF Group companies also have a long-standing tradition of contributing to the development of education, culture, and the creative milieu in the Czech Republic. SOCIAL RESPONSIBILITY We Are Among the Largest Taxpayers in the Czech Republic PPF is one of the Czech Republic’s largest taxpayers. In 2019, PPF Group’s Czech companies paid a total of CZK 6.9 billion in income tax and health and social insurance fees to public institutions. Taken as a whole, PPF Group companies in the Czech Republic are currently the country’s seventh largest income taxpayer, including names such as O2 CZ, CETIN, Škoda Transportation, and PPF Banka. Petr Kellner, PPF Group’s founder and majority shareholder, is also a Czech tax resident. NEWS TO EMAIL Get the latest press releases, interviews, podcasts, and insights. SUBSCRIBE TO NEWS FOLLOW US FOR MEDIA For Media Press Releases Interviews and Podcasts Subscribe To News Downloads Contacts MAY BE OF INTEREST Our Companies Newsroom Insights CONTACTS PPF Group Companies TERMS OF USE DATA PROTECTION SITEMAP COOKIES POLICY COOKIES SETTINGS 2021 © PPF GROUP Cookies Consent We are using cookies for the best experience on our websites. For more information visit our document Information about cookies on the "Cookies settings" menu. 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