Penta has reported a record net profit of €621 million for the financial year 2024. All core portfolio companies contributed to this results, as the high level of capital investments in the recent past bear fruit in terms of achieving scale.
Return on equity reached 16.1%, once again confirming Penta’s long-term high and stable performance. The launch of Penta Fund at the end of 2024 has been positively received by external investors.
Group employs more than 50,000 people and paid a total of €801 million in income tax and other social contributions in 2024. This confirms Penta´s position as one of the largest employers and taxpayers in the region.
“In 2024 we completed significant acquisitions mainly in the healthcare and real estate sectors, that will allow us to further grow these segments. I would like to thank all of the external investors, who have already become part of our Penta story for their trust. The launch of Penta Fund has significantly exceeded our expectations already. In slightly more than two months we have been able to raise more than our target for the whole year. Strengthening our equity base so significantly will allow us to achieve our portfolio expansion plans more expeditiously further reinforing the portfolio’s growth plans. Along with our management teams, we are absolutely committed to investing all of our disposable capital into this robust growth. We plan an investment activity level in the amount of more than 2 billion EUR in next 5 years”, says Iain Child, Managing Partner of Penta.
Dr. Max pharmacy chain was traditionally the most significant profit contributor in 2024, followed by Fortuna Entertainment Group, Penta Hospitals, banks and real estate.
Dr. Max continued to grow in the Italian market last year and has developed organically in other countries. With more than 3000 pharmacy units, the Group is already number two player in Europe. The digitization of the business has been the huge transformative driver, which Dr.Max has been reflecting in systematic execution of its omnichannel strategy.
Fortuna Entertainment Group (FEG) delivered excellent financial results. Penta is strongly committed to develop FEG also through acquisitions and expansion into the new markets. FEG’s management team is focused on increasing the quality of its product to further strengthen its position as a leading betting and gaming operator in CEE region.
Penta Hospitals significantly expanded its portfolio in the Czech republic, with its acquisition of Dr. Pírek Klinik, a top hospital specialized in orthopedics and surgery, and TeamPrevent Santé, a provider of premium and occupational health services. It also significantly strengthened its elderly care services with the acquisition of Czech assets of the Senecura Group and the expansion of Alzheimer Home network.
Penta Real Estate had a great year in residential development (record 682 flats completed and handed over to customers) and confirmed its position as a leader in the premium and luxury housing segment as well as in commercial development. Its current most lucrative portfolio includes extensive development sites in the center of Prague (Florenc district, Main Railway Station and Victory Square) and Bratislava (Southbank). As has already been said, Penta Real Estate is also preparing its entry into the London Real Estate market. At the end of 2024 Penta Real Estate reported assests of more than €1.7 billion, which will generate a strong pipeline of high quality design projects for many years to come.
Both banks in Penta´s portfolio, Prima Banka and Privatbanka, have achieved commendable results, demonstrating a 24% growth in net operating income. This growth has been driven by repricing of portfolios as well as by increases in assets, deposits, client base and assets under management. However, the net result for the year, amounting to €42 million, was lower compared to the previous year due to the reintroduction of the bank levy in the Slovak Republic, which has significantly impacted the entire banking sector.
Penta´s whole portfolio of media companies in the Czech republic and Slovakia has exceeded EBITDA of 20 million EUR which is a great result in a declining market. Both of the key companies VLM and NMH were able to grow their online revenues, validation of their successful online and digital transformations.
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Year-on-year comparison of key data: |
2023 | 2024 |
| Net profit | € 504 mil. | € 621 mil. |
| Cumulative revenues of portfolio companies | € 9.2 bn. | € 10.9 bn. |
| Adjusted EBITDA of portfolio companies | € 580 mil. | € 657 mil. |
| The total amount of CAPEX investments | € 1.2 bn. | € 651 mil. |
| Total amount of income taxes and social contributions paid | € 680 mil. | € 801 mil. |