After a period of major foreign acquisitions, 2018 was marked by stable growth for the Penta Group. Nevertheless, the company managed to achieve the greatest profits ever in its 24 years of existence. The company ended 2018 with a profit of EUR 288 million, the overall assets of its portfolio companies totalling CZK 267.5 billion (EUR 10.4 billion). The results were positively affected by Dr. Max, Penta Real Estate as well as by the performance of Fortuna, Dôvera, Prima banka and Privatbanka.
It was above all the acquisition of the Romanian AD Pharma which significantly strengthened Dr. Max. With more than 2,000 pharmacies, this company became the fourth largest pharmacy chain in Europe with total sales reaching EUR 2.3 billion. A growth in sales was also registered by Fortuna – stronger due to the inclusion of the Hattrick Sports Group – which reinforced its position as leader in the Central European region. Dôvera strengthened its share of the Slovak market, acquiring 50,000 new insured patients. Prima banka was again named the fastest growing bank of the year in Slovakia.
Contrary to expectations, EMC and Aero did not perform well last year.
“Thanks to the very healthy profitability of our portfolio as well as the high level of confidence we enjoy from the banks, we were able to invest almost EUR 800 million into our companies, which is the treble of our net profit.”
Marek Dospiva, Partner at Penta
Penta Real Estate is gaining ever greater importance within the group. With a growth rate of 23%, the company managed assets in the amount of EUR 1.29 billion at the end of 2018. Apart from several other activities, Penta RE started to build a Next Generation Hospital in Bratislava and continued construction of the Sky Park residential project designed by the architect Zaha Hadid. In Prague, the company completed stage 1 of the Churchill project near Prague Main Railway Station and commenced preparations for the sale of the five administrative buildings at Waltrovka in the Jinonice district of Prague in the second half of the year.
Year-on-year comparison of key data:
|Total assets of portfolio companies||EUR 10.4 billion||EUR 9 billion|
|Net profit||EUR 288 million||EUR 236 million|
|Cumulative sales of portfolio companies||EUR 7.5 billion||EUR 6.8 billion|
|Adjusted EBITDA of portfolio companies||EU 440 million||EUR 382 million|
As of year end, the Penta Group employed 44,000 people. It paid a total of EUR 269 million in taxes, social security and health insurance payments for its employees.
Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 44,000 people and reported assets of EUR 10,4 billion in 2018. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.