IDEAL Holdings: 106% increase in profits after taxes in the 1st quarter

The profits after taxes of the IDEAL Holdings  company increased by 106%, during the first quarter of 2022.

According to a relevant announcement, there was an increase in Earnings after Taxes by 106% to € 3.1 million compared to € 1.5 million in the first quarter of 2021, while Earnings per share increased by 106% to € 0.099 against € 0.048 million

In addition, there was an increase in Earnings before interest, taxes, depreciation and amortization (EBITDA) by 122% to € 5.1 million, compared to € 2.3
million in the first quarter of 2021

It also showed a 68% increase in revenue to € 24.1 million, compared to € 14.3 million in the first quarter of 2021

Compared to the first quarter 2021 on a consolidated basis:

-The Turnover amounted to € 24,129 million compared to € 14,346 million in the first quarter of 2021, recording an increase of 68%. The companies in which IDEAL Holdings participates have all increased their turnover compared to the first quarter of 2021 in percentages ranging from 29% (Adacom) to 143% (Three Cents).

Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 5,086 million compared to € 2,291 million in the first quarter of 2021, recording an increase of 122%. The companies in which IDEAL Holdings participates have all increased their EBITDA compared to the first quarter of 2021 in percentages ranging from 126% (Astir Vitogiannis) to 343% (Three Cents).

-Net Profits after Taxes amounted to € 3,116 million compared to € 1,511 million in the first quarter of 2021, recording an increase of 106%. The companies in which IDEAL Holdings participates have all increased their net profits compared to the first quarter of 2021 in percentages ranging from 115% (Astir Vitogiannis) to 200% (Three Cents).

Earnings per share amounted to € 0.099 compared to € 0.048 in the first quarter of 2021, recording an increase of 106%.

Acquisitions

IDEAL Holdings made two additional investments in April 2022: (i) the acquisition of 74.99% of Coleus Packaging through Astir Vitogiannis and (ii) the acquisition of 100% of Netbull through Adacom.

Coleus Packaging (pty) Limited had in the first quarter of 2022 a turnover of ZAR 163,223 million (€ 9.78 million) and EBITDA ZAR 25,862 million (€ 1,548 million), at a rate of 1 EUR equal to 16.7 ZAR .

Netbull had a turnover of € 0.9 million in the first quarter of 2022 and an EBITDA of € 0.2 million.

These results are not included in the results of IDEAL Holdings for the first quarter of 2022. If they were included, then the Turnover would amount to € 34.8 million and the Earnings before Interest, Taxes and Depreciation (EBITDA) would amount to € 6.85 million

The new acquisitions will be included in the results of the first half of 2022 with the completion of the relevant financial transactions.

Prospects for 2022

2022 is evolving into a difficult year for the world economy and definitely for the Greek economy as well. Russia’s war in Ukraine is causing a backlash and price increases in many of the raw materials and continues to disrupt the supply chain. Rising inflation, energy and transportation costs are ongoing challenges to corporate profitability. The continuing uncertainty and turmoil in the global economy do not allow easy conclusions to be drawn about the course of the companies’ financial figures for 2022.

In the first quarter of 2022 and the period until the publication of the Basic Financial Figures of the first quarter, IDEAL Holdings relied on its development plan but on the defenses it had created to significantly strengthen its financial figures. The management of the Company estimates that with the publication of the results of the AD Semester 2022 it will be able to formulate clear forecasts for the financial figures that concern the whole of 2022. The acquisitions made in 2022 together with the existing investments, it is certain that will significantly boost economic figures in 2022 compared to 2021.