According to the data presented by the group, the key factor behind the improvement of the results was an additional dividend obtained from Bank Pekao SA, as well as an increase in revenues from fund's assets management. This increase was possible thanks to the higher valuation of the net assets, which translated into a larger basis for calculating the salary.
In 2024, the gross profit of the PFR group amounted to PLN 815.6 million. A year earlier, this indicator reached the level of PLN 375.7 million, which also shows a clear improvement in financial results. However, in the area of operational activity a decrease was recorded – the result at this level amounted to PLN 116.9 million against PLN 124.8 million in the previous year. In turn, financial revenues increased almost twice, from PLN 405.3 million in 2023 to PLN 813.6 million in 2024, while financial costs reduced to PLN 114.9 million from PLN 148.8 million.
Less sales revenues
The group also recorded a lower level of sales revenues, which dropped by PLN 6.3 million to PLN 414.6 million (PLN 421 million in 2023). As noted, this reduction resulted primarily from reducing the remuneration for the implementation of the financial shield programs by PLN 50 million. This was the result of changes in the contract with the Ministry of Development and Technology, which reduced the pay rate from 0.15 percent. up to 0.1 percent Program values.
The sale of the PFR Group was largely based on remuneration for the management of investment fund assets, which brought PLN 264.7 million of income, as well as on activities related to the financial shield programs – this in turn generated PLN 116.1 million.
Lower operating costs
At the same time, the PFR Group reduced its operating costs, which in 2024 amounted to PLN 292.1 million. This result is PLN 4.4 million better than a year ago. The largest savings were recorded in the area of marketing costs. In 2023, they were higher due to the one -off promotional campaign of the project of employee capital plans (PPK) under the so -called autosha. However, this was not continued in 2024, which had a positive impact on the reduction of costs.
PFR also pointed to changes in the functioning of the management board that allowed to move some marketing activities over time, which had an impact on the financial result.
The Polish Development Fund, operating within a group of institutions supporting entrepreneurs, local governments and private individuals, plays an important role in the Polish economy. Supports sustainable social and economic development of the country, among others through investments in digitization and modern technologies. An example of this commitment is the joint ownership of the national cloud operator, which develops key cloud infrastructure in Poland.
