Ideal Holdings: EBITDA rose 101% to 53.9 million euros

 

In 2023 issued a joint bond loan with a duration of five years and an amount of 100 million euros, through a Public Offer which was covered by 1.89 times

IDEAL Holdings announced a 120% increase in revenue to 384.3 million euros in 2023.

It also announced a 101% increase in earnings before interest, taxes, depreciation and amortization (EBITDA), which amounted to 53.9 million euros.

Profits before taxes rose by 76%, reaching 38 million euros. Profits after taxes increased by 73% totaling 26.7 million euros.

According to the announcement, the above consolidated results: (a) include the results of: Astir, Coleus, BYTE, ADACOM, IDEAL Electronics and their subsidiaries. The results of the Attica Department Stores company have also been included and (b) operating figures are presented and therefore the effect of IFRS 16 is not included, which is presented separately at the level of EBITDA profitability. The consolidated results include expenses related to the investment part of the parent company (IDEAL Holdings).

It is noted that in 2023 IDEAL Holdings issued a joint bond loan with a duration of five years and an amount of 100 million euros, through a Public Offer which was covered by 1.89 times, with a final yield of the bonds and an annual interest rate of 5.5%.

Net borrowing at a consolidated level was 73.3 million euros at the end of the year and the ratio Net Borrowing / EBITDA was 1.4x. Taking into account credit and debit card claims of 16 million euros, the net borrowing is 57.3 million euros and the corresponding ratio is 1.1x.

Statement by President Lambros Papakonstantinou:

“We consider it particularly important that all companies in our portfolio showed increased profitability compared to 2022. The final figures of 2023 showed a significant increase compared to 2022 and were positively affected by the organic growth of existing investments and by the acquisition of Attica Department Stores. The strategy of diversifying investment and business risk is paying off and creating goodwill for our shareholders. In 2023, we completed the first cycle of IDEAL’s transformation into a holding company and laid the foundations for the next steps. The goal for the next few years remains to increase our size through careful investment moves. 2024 will be a year of challenges, but we expect that our portfolio will show an upward trend,” said Lambros Papakonstantinou, president of IDEAL Holdings.

Πηγή: naftemporiki.gr