Penta Investments, the Central European investment group, has announced its consolidated financial results for the year 2011. According to the IFRS, its assets reached EUR 4.7 billion, consolidated revenues were reported at EUR 1.7 billion and consolidated profit after tax EUR 127 million. The group's equity has reached EUR 1.07 billion – exceeding EUR 1 billion for the first time in Penta's history.
Buying the market in 2012
The first half of 2012 has been a buying period for Penta. In January, the group completed the acquisition of Clar System in Poland, in May the purchase of the Domov Zdravia pharmacy chain in Slovakia and the acquisition of the Schneider Group in the Czech Republic.
The most significant acquisition is Penta’s entry into the Polish retail holding EM&F Empik. Penta currently holds 33% share in the holding and cooperates with Eastbridge, its majority shareholder, on restructuring and expanding the company. In the Real Estate division, Penta commenced the construction of the Florentinum office centre in central Prague.
“Empik is a transaction of the year for us and has a potential to be the biggest transaction in Penta’s history to date. By the end of this year, we expect to conclude 2 exits and at least one new acquisition. Our key strategic goal is investment on the German market,” said Penta’s partner Jaroslav Haščák.
Private deals the main contribution to 2011 figures
“Private transactions, such as the sale of Zabka and TES Vsetin, have been the main contribution to our success in 2011. The annual profit is quite a tricky figure for an investment group like Penta, as it is highly dependent on whether we are buying or selling at the time. The figure I am most pleased about is therefore our equity, which has finally exceeded EUR 1 billion,” ads another partner Marek Dospiva.
2011 Exits: Zabka Polska, TES Vsetin/Mezservis, Drumet
2011 Acquisitions: Dexia banka Slovensko, Masaryk Station Investment
Penta has also concluded an SPA to acquire a Slovak regional hospital chain – Svet Zdravia. The transaction is expected to be completed this year.
Investment focus
Currently, Penta has the most significant presence on 3 markets: Slovakia – 51 %, Czech Republic – 35 %, and Poland – 12 %.
The Buy-out division has the dominant position, with 80 % of Penta assets allocated. In the Real Estate division, Penta has 20 % of its assets allocated.
Investments in particular sectors
Retail: 35 %
Healthcare: 31 %
Financial services: 7 %
Others: 27 %
The group is also finishing its internal restructuring. As of July 1st, Penta will start using Jersey as its holding jurisdiction along with Cyprus and the Netherlands.