Continuing to invest into long term growth despite a challenging business environment

Penta has reported a net profit of €483 million for the financial year 2022. The consistent profits generated allow the group to continue to invest significantly into its portfolio of companies with Capital Expenditures totalling €806 million during 2022. Currently the Group employs more than 40,000 people and paid a total of €607 million in income tax and other social contributions.

“2022 was another challenging year on the geopolitical and human front with the tragedy of the Ukraine war, which exacerbated the already strained macroeconomic environment causing excessive inflation and very significant rises in interest rates. Despite this difficult environment the robustness of our portfolio has allowed us to deliver excellent financial results and at the same time continue to invest into our companies to improve our products and services to our customers”, explained Iain Child, Managing Partner of Penta.

Contributing significantly to Penta Group earnings in 2022 was the Dr. Max pharmacy chain, Slovalco and Empik. Other solid contributions came from Penta Real Estate, Primabanka & Privatbanka, and Iglotex. Fortuna Entertainment Group made an admirable recovery from the previously COVID effected years and produced a record result in 2022. Penta´s media companies (VLM and NMH) demonstrated strong resilience against soaring paper and distribution costs and successfully defend their topline. The main negative impact on the 2022 results related to the Dôvera health insurance business due to the unstable regulatory environment.

Penta Real Estate sold 377 residential units in 2022 and a further 1,765 units are under construction (Bory Bývanie, Nuselský pivovar, Nová Waltrovka, Victoria Palace, Juliska, Pri Mýte, Vila Chittussi). In the first quarter of 2022, Penta concluded the divestiture of €224 million of assets to Alto Real Estate (Jozef Oravkin) in Slovakia. At the same time it invested €350 million into its Real Estate business acquiring new land mark developments in Prague and Bratislava as well as completing existing projects. At the end of 2022 Penta Real Estate reported assests of more than €1.16 billion.

“Our investment programs in 2022 exceeded €800 million. Dr. Max continued its expansion throughout its Central European core markets and Italy totalling €160 million in 2022 principally focused on logistic warehousing capacity and new retail openings. We successfully expanded our Czech healthcare businesses and completed the majority of our investment into Nemocnica Bory in Slovakia (which opened at the end of March 2023) investing €146 million into these projects in 2022. In the fourth quarter of 2022 we completed the sale of 51% of EMPIK group in Poland to management which marked a new beginning in the long history of this Polish iconic brand, “ Iain Child added.

Year-on-year comparison of key data:	2021	2022
Total assets of portfolio companies	€ 11.1 bn.	€ 14.3 bn.
Net profit	€ 570 mil.	€ 483 mil.
Cumulative revenues of portfolio companies	€ 7.3 bn.	€ 8.0 bn.
Adjusted EBITDA of portfolio companies	€ 513 mil.	€ 608 mil.
The total amount of CAPEX investments	€ 525 mil.	€ 806 mil.
Total amount of income taxes and social contributions paid	€ 496 mil.	€ 607 mil.

More news

Jaroslav Haščák returns to Penta’s top management

Jaroslav Haščák, the co-founder of the Penta investment group, returns to the top management of the company after almost four years. With effect from 1 October 2024, he will once again be fully involved in the Investment Committee and the Executive Board, as well as in the management of Penta Group’s corporate portfolio.

Penta opens up to investors after 30 years since its founding

Penta has reported a net profit of €504 million for the financial year 2023, which is the 2nd best result in the Group´s history (after the record numbers achieved in 2021). The Group’s consistent and robust results stem from the strong underlying growth of it’s core portfolio companies.

Penta Real Estate is launching an Architectural and Urban Design competition for a development near the southern bank of the Danube River.

Penta Real Estate is launching an international architectural and urban design competition, the aim of which is to find a future solution and form of development of the area near the southern bank of the Danube river, in the area between Bratislava’s Old Bridge, the Apollo Bridge and the Harbor Bridge. The competition is open, three invited international architectural studios will also participate.

Penta has sold a majority stake in the Empik Group

The current president of the company’s management board, Ewa Szmidt-Belcarz, takes over a controlling stake in the Empik Group.

Penta continues significant investments

Penta has reported a net profit of €570 million for 2021. The group continues to invest significantly into its portfolio of companies with CAPEX totalling €525 million during 2021. Over the next five years, Penta is planning to invest a further €3 billion into both organic development and acquisitions within its existing investment platforms. At the end of 2021, the Group employed more than 41,000 people and paid a total of €496 million in income tax and other social contributions.

Masaryk’s highest point cost 600 million

The reinforced concrete skeleton of the two buildings we are constructing at Masaryk Railway Station in the centre of Prague has reached its highest point. We first presented British architect Zaha Hadid’s multifunctional building project to the public six years ago, and the building itself began to grow along Na Florenci Street in March last year.

David Vaněk is going to take on the role of Fortuna Entertainment Group (FEG)´s Group CEO

David Vaněk, currently General Manager of Fortuna Entertainment Group CZ (FEG CZ) and the member of the FEG group executive team, will take on the role of interim CEO of FEG as of 1.3.2022. He will replace Per Widerstrom who is leaving the Group at the end of February. Over the seven years, the FEG business has grown more than five times in size and the Group has become a leading licensed omni-channel betting and gaming operator in CEE region.

Penta has sold Aero Vodochody

The largest aircraft manufacturer in the Czech Republic has changed owners after 15 years. In June of this year, Penta Investments signed a sale & purchase agreement with the Hungarian company HSC Aerojet Zrt. Along with Aero Vodochody, Penta also sold Letiště Vodochody, a.s.

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