IDEAL Holdings' profit after tax for the 9 months of 2024 increased by 661%, as it reached €90.4 million compared to €11.9 million in the corresponding period of 2023.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 263% to €37.7 million compared to €10.4 million in the first nine months of 2023.

On a comparable basis, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 17% to €27.1 million compared to €23.1 million in the first nine months of 2023.

The company also showed an increase in net asset value (NAV)/share of 17% to EUR 7.8 per share compared to EUR 6.7 per share as of September 30, 2023.

At the same time, it announced an increase in net cash (Net Cash) by EUR 79.7 million to EUR 22.4 million compared to net debt (Net Debt) of EUR 57.3 million as of 31.12.2023.

The significant increase in all consolidated key financial ratios comes from the organic growth of the IT companies and the addition in the first nine months of 2024 of the results of Attica Department Stores for the entire reporting period compared to the comparative period in which it has been consolidated since the acquisition date, i.e., 1 September 2023.

During the current period, the company expanded its IT investment portfolio by acquiring 75% of the shares of BLUESTREAM SOLUTIONS S.A. ("Bluestream"), a company engaged in providing infrastructure services in both on-premises and multi-cloud environments, cloud migration, data availability, and outsourcing. The value of the transaction was €12.2 million and was entirely financed from the unallocated funds of the Common Bond issued by IDEAL Holdings on 15 December 2023. Bluestream is consolidated from the date of completion of the acquisition, i.e., 19.09.2024.