Ideal Holdings achieved profits after taxes of €92.2 million in 2024, marking an astonishing increase of 446% from €16.9 million in 2023.

As stated in the company’s announcement, the substantial growth in all consolidated key financial metrics is attributed to the organic development of its IT companies and the inclusion of the Attika Department Stores results for the entire reporting period in 2024, compared to the previous period, when it was consolidated only from the date of acquisition, specifically September 1, 2023.

The acquisition of 75% of the shares in BLUESTREAM SOLUTIONS S.A. ("Bluestream"), which specializes in providing infrastructure services in both on-premises and multi-cloud environments, cloud migration, data availability, and outsourcing, also contributed to the 2024 results. This acquisition further enhances the company’s investment portfolio in the IT sector. The transaction was valued at €12.2 million, completely funded by the unallocated proceeds from the Common Bond Loan issued by Ideal Holdings on December 15, 2023.

Bluestream will be consolidated from the date of completion of the acquisition, specifically September 19, 2024. As of December 31, 2024, the consolidated net cash position stood at €28.8 million, compared to a net debt of €73.3 million on December 31, 2023. Factoring in receivables from credit and debit cards amounting to €13 million, the net cash position rises to €41.8 million against net debt of €57.3 million as of December 31, 2023.