Penta Investments closed 2019 with a net profit of EUR 265 million, and the total assets of its portfolio companies increased to EUR 11.2 billion. All branches of its business showed positive EBITDA, the economic result was most influenced by its companies Dr.Max and Fortuna, while Penta Real Estate in particular made a significant contribution. In 2019 Penta invested EUR 613 million in its companies. At the end of the year, Penta employed a total of 46,000 people, paying a total of EUR 261 million in income tax and contributions for its employees.
Through further partial acquisitions, particularly in Italy, Dr.Max continued to expand its pharmacy network to a total of 2,190, while sales reached EUR 2.7 billion last year. Fortuna’s positive results were mainly thanks to massive investments in both their branch network and technology totalling tens of millions of euros. Penta Real Estate completed 452 housing units (Waltrovka, Bory Home) and another 1,605 are under construction (Sky Park, Terrace, Waltrovka, Maison Ořechovka, Bory Home). It opened the SmíchOFF office building and continued the construction of the Churchill II project, both in Prague, while implementing the Sky Park Offices in Bratislava. At the end of the year, Penta Real Estate managed assets of EUR 1.27 billion.
Due to the worldwide decline in car sales, Gehring Technologies ended up with a negative financial result, and a significant drop in commodity prices was also reflected in the results of the Slovalco aluminum plant in Žiar nad Hronom. Aero Vodochody closed the year with an expected loss.
Year-on-year comparison of key data: 2019 2018
Total assets of portfolio companies EUR 11.2 billion EUR 10.4 billion
Net profit EUR 265 million EUR 288 million
Cumulative revenue of portfolio companies EUR 6.9 billion EUR 7.5 billion
Adjusted EBITDA of all portfolio companies EUR 434 million EUR 440 million
At the end of the year, the Penta Group employed 46,000 people. Penta paid a total of EUR 261 million in income tax, as well as in social and health contributions.