IDEAL Holdings announces its proforma results for the 9M 2023 with revenue growth +111% and EBITDA +106%.

In the above consolidated results: (a) the results of the subsidiaries Astir, Coleus, BYTE, ADACOM and IDEAL Electronics are included, while for the period 2023 the results of attica have been included and (b) the operating figures are presented and therefore the impact of IFRS 16 is not included.

Consolidated results include expenses related to the operation of the parent company (Holdings). which burden EBITDA by € 1.4 million (€ 0.9 million in the corresponding period last year) and Profit Before Tax by € 0.7 million (€ 0.1 million in the corresponding period last year) and which have not been allocated to the subsidiaries.

Note: IDEAL Holdings notes that the Pro Forma Financial Figures, unaudited, are prepared for information and comparability purposes and present in each reporting period the combined performance of the companies: (a) in which the Company participates. and (b) simultaneously remain in its portfolio.

Performance of IDEAL Holdings Investments Industrial Investments (Astir, Coleus)
Amounts in millions € 9M 2022 9M 2023 Δ % 9M 2023
FX neutral
Revenues 69.4 58.4 -16% 63.1
EBITDA 13.4 17.1 +27% 18.0
EBT 11.6 14.4 +24% 15.0
EAT 8.8 11.0 +25% 11.4

• Revenues amounted to €58.4 million, while the decrease in Revenues at Constant Exchange Rate (FX Neutral) is 9% at €63.1 million. This is mainly due to the decrease in sales volume mostly in Q1 2023 following increased orders/sales in Q4 2022. Unit sales amounted to 9.5 billion units in 2023 compared to 10.6 billion units in 2022.

• Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) increased by 27% to €17.1million which was driven by (i) an improvement in gross margin, in particular due to the increase in Coleus margin. and (ii) a decrease in operating expenses

• Profit Before Tax increased by 24% to €14.4 million

• Profit After Taxes increased by 25% to € 11.0 million. IT Investments (BYTE, ADACOM, IDEAL Electronics) Amounts in millions € 9M 2022 9M 2023 Δ % Revenues 60.6 69.1 +14% EBITDA 7.1 7.9 +11% EBT 5.4 5.7 +4% EAT 4.2 4.5 +7%

• Increase in Revenues by 14% to €69.1million

• Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) increased by 11% to €7.9million

• Earnings before taxes up 4% to € 5.7 million

• Increase in Earnings after Taxes by 7% to € 4.5 million Investments in Specialized Retail (attica) Amounts in millions € 9M 2022 9M 2023 Δ % Revenues 128.3 146.4 +14% EBITDA 9.6 16.6 +72%
EBT 4.6 11.4 +146% EAT 3.6 8.4 +133%

• Increase in Revenues by 14% to € 146.4 million

• Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 72% to € 16.6 million.

• Earnings before tax up 146% to € 11.4 million

• Increase in Earnings after Taxes by 133% to € 8.4 million

Outlook for 2023

“Our figures increased significantly in the first nine months of 2023 as a result of organic growth and profitability and the investment in attica Department Stores. We remain committed to creating value for our shareholders and to our strategy of diversifying business risk by investing in sectors with sustainable growth potential - such as manufacturing, IT and specialized retail. Our targets for 2023 in Revenues is to reach € 385million, in Earnings Before Interest, Taxes, Depreciation and Amortizations (EBITDA) to exceed € 50 million and in Earnings Before Taxes (EBT) to exceed € 40 million and to be among the largest companies in the Athens Exchange" said Mr. Lambros Papaconstantinou, Chairman of the Board of Directors of IDEAL Holdings.