Slides
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FY 2025 Financial Results February 2026
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H O L D I N G S I. FY 2025 Overview
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Share Capital Return 3 2025 Key Highlights FY 2025 Financial Results Presentation FY 2025 ▪ Completion of acquisition of 100% of Barba Stathis, for €130m. ▪ EBITDA growth across all businesses; ▪ Comparable EBITDA, at €58.0m vs. €39.3m in FY 2024, due to both organic growth & M&A; ▪ Comparable EBT at €36.7m vs €23.9m in FY 2024; ▪ Comparable ΕΑΤ at €26.1m vs €16.4m in FY 2024. ▪ €0.40/ share (total distribution of €21.6m) for FY 2025. ▪ 6.6% divided yield in 2025 (average share price FY 2025). ▪ OHA invested €102.5m, acquiring indirectly 25% of all investments ▪ Successful completion of SCI of €48m through a Public Offering, issuing 8 million new shares; SCI oversubscribed 2.6x; Investments Financial Performance Strategic partnership Capital Markets
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4 Shareholders’ Reward FY 2025 Financial Results Presentation 5-year aggregate Shareholder Reward (Capital Return + Buy-back) = c. 23% of Current Market Cap* 0,19 1,13 0,19 0,20 0,40 0,15 € 2022 2023 2024 2025 YTD’26 Cummulative €7.0m €7.6m €9.6m €21.6m €54.2m €8.4m Capital Return to Shareholders▪ Shareholders’ reward, with aggregate 4-year capital return of €1.13/share; ▪ Total distribution of €54.2 million, equal to 16.5% of IDH current Market Cap*. ▪ Throughout 2025 IDEAL Holdings continued implementing its buy-back program (€12 mil). Market Cap Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 € mil Dec-21 Jun-22 Dec-22 Jun-23 113 111 144 205 303 269 285 349 352 +27% +111% -6% +24% 54,2 73,7 19,5 € mil SC Decrease Buy-back Total 5-Year Shareholders reward * As of 20th February 2026 Source: Bloomberg
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H O L D I N G S II. attica
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6 attica Comparable Financials FY 2025 Financial Results Presentation Revenues EBITDA & Margin € mil FY 2024 FY 2025 231.9 244.2 +5% Statutory EBITDA (IFRS 16) € mil FY 2024 FY 2025 42.2 46.4 +10%€ mil 11.8% FY 2024 12.4% FY 2025 27.4 30.4 +11% EAT Debt/ Cash Customer visits Physical stores sales / NLA Revenues analysis by product €000 /sq.m FY 2024 FY 2025 7.2 7.5 +4% 76% 21% Fashion Beauty 3% Other FY 2025 € mil Dec’24 Dec’25 25.1 46.7 18.8 59.4 Debt Cash (adj. for Credit Card Rec.) (21.6) (40.7) Net Debt/ (Net Cash) mil FY 2024 FY 2025 6.8 6.9 +1% € mil FY 2024 FY 2025 15.6 18.5 +18% Source: attica Management Accounts
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7 attica Business Overview FY 2025 Financial Results Presentation 2025 Performance ▪ Sales increased by +5% vs 2024 despite the market negative trend; ▪ Tax free sales up by +5%, while e-shop increased by +29%; ▪ Footfall slightly higher (+1% vs FY 2024) while transactions increased by +4% (higher conversion rate); ▪ Ongoing addition of contemporary designer brands & increase of exclusive brands, e.g. COS (exp. annual turnover more than 1mil), Comme des Garçons Pocket Concept (attica is 1 out of 5 department stores in Europe), Maison Grivelli (niche fragrance), Matiere Premiere (niche fragrance), as part of elevation process. ▪ Gross & EBITDA Margins improved, despite higher payroll and marketing costs; ▪ Sales/ Sq.m. increased by +4% Outlook for 2026 ▪ Sales upward trend expected to continue in 2026. ▪ Further increase in wholesale (purchases) business vs consignment is expected. ▪ New contemporary & premium brands will be introduced (e.g. Carhartt). ▪ Upcoming projects i. Upgrade front-end systems to enhance personalization and customer experience (In progress, April 2026 Expected). ii. Implementation of CRM/ Loyalty scheme (In progress, Q3 2026 Expected). iii. Further boost e-commerce through AI technology tools & fixes in UX audit findings (In progress). iv. Open the first attica beauty store in Athens Mall. v. Opening of 3 new stores at Riviera Galleria, Hellinikon (Early phase, 2027 Expected).
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H O L D I N G S III. BYTE Group
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BYTE Group Comparable Financials Revenues EBITDA & Margin EAT € mil FY 2024 FY 2025 116.0 106.0 -9% € mil 11.5% FY 2024 14.3% FY 2025 13.4 15.2 +13% € mil FY 2024 FY 2025 8.2 9.8 +19% Revenue breakdown by sector 61% 39% Private Public FY 2025 Revenue breakdown by service 23% 26% 34% 11% 6% FY 2025 Integration Cyber Business Services Cloud & Migration Services Trust Services Debt/ Cash € mil Dec’24 Dec’25 5.9 17.1 4.6 28.9 Debt Cash (11.2) (24.3) Net Debt/ (Net Cash) Source: BYTE Group Management Accounts FY 2025 Financial Results Presentation
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10 BYTE Group Business Overview FY 2025 Financial Results Presentation 2025 Performance ▪ EBITDA and EBT increased by 13% and 16% respectively, despite revenues being lower by -9% vs 2024, due to large one-off IT infrastructure projects (low-margin). ▪ Strategic shift towards higher-margin, value-added projects to increase profitability and sustainable growth. ▪ EBITDA Margin improved reaching 14% (compared to 12% in FY 2024). Outlook ▪ Current contractual backlog of ~€83m; ▪ Company expects revenue growth in 2026, supported by the strong backlog and the sustained expansion of the Greek IT market; ▪ EBITDA upward trend is expected to continue, mainly driven by: i. Shift to more value-added services will sustain; ii. Increased cooperation between companies will leverage scale benefits; iii. Further investment in technology (mainly AI) and standardization to reduce manual work and overheads. ▪ Upcoming projects/ initiatives i. The IT reorganization within Byte Group has been completed aiming to enhance cross selling opportunities and strengthen synergies across all IT subsidiaries. ii. SOC transformation to ROC (Risk Operation Center) will shift focus from alerts and incidents to business risk and value protection increasing sales, margins and customer lifetime value. iii. Company has further strengthened its presence in ME through contract extensions until 2028 and addition of new projects in the pipeline.
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H O L D I N G S IV. Barba Stathis
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Barba Stathis Comparable Financials Revenues EBITDA & Margin EAT € mil FY 2024 FY 2025 120.5 129.1 +7% € mil 11.5% FY 2024 11.2% FY 2025 13.9 14.5 +5% € mil FY 2024 FY 2025 5.2 6.2 +19% Revenue analysis by category 53% 16% 16% 12% 3% Frozen Vegs Fresh Salads Dough Halvatzis Other FY 2025 Revenue growth contributionDebt/ Cash € mil Dec’24 Dec’25 42.8 5.8 39.9 5.6 Debt Cash 37.0 34.3 Net Debt/ (Net Cash) € mil FY 2024 5.3 Frozen Vegs 2.3 Fresh Salads 1.1 Halvatzis -0.2 Dough & Other FY 2025 120.5 129.1 Source: Barba Stathis Management Accounts FY 2025 Financial Results Presentation
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13 Barba Stathis Business Overview FY 2025 Financial Results Presentation 2025 Performance ▪ Record year for Sales (+7% vs 2024 –primarily volume-driven and secondarily mix, with positive impact on category growth) despite intense competitive pressure from PLs and increased consumer price sensitivity. ▪ Revenue increased across all product categories and channels; Market shares near or at new heights. ▪ Gross Margin increased by 60 bp vs 2025 as a result of mix and productivity improvement which offset higher cost of raw materials/production cost components. ▪ A record year also for EBITDA (+5% vs 2024). Outlook ▪ We expect 2026 sales to continue growing mid to high single digit with positive category impact , behind holistic brand relaunch (new brand identity, new media campaign, new packaging) and strong consumer investments, coupled with strong in-store presence & distribution expansion of high-growth categories. ▪ EBITDA expected to continue growing in 2026 in low double digits, leveraging top line growth & productivity gains behind Capex investments. ▪ Upcoming projects i. Project SKG DC: New distribution & storage center in Thessaloniki, to increase own storage capacity and significantly decrease third- party storage costs (In progress, completion expected Q3 2026); ii. Project Athens DC: New distribution & storage center in Athens, to optimize logistics and minimize third-party costs (Early phase, completion expected in H1 2027).
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H O L D I N G S V. Strategy 2026 - 2028
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15 Strategy 2026 - 2028 FY 2025 Financial Results Presentation • Disciplined investment strategy, proven track record, average returns of c.2.1x CoC since May 2021 3Cents Exit 115.5 Astir Exit 18.6 Dividends 102.5* OHA Initial Investment Net Proceeds 45.9 282.5*IRR: 50% CoC: 2.1x Initial Investment 135.0* • IDH targeting returns of IRR >15% or 2.0x CoC for future asset sales • New acquisitions at fair valuations reflecting IRR expectations Selectively explore M&As • Maintain stable dividend policy from operations for the next 3 years between 40%-50% of EAT; • Explore partial additional capital return from exits • SCI and OHA partnership increased firing power 103 72 Cash Dec’24 -130 BBS M&A 102.5 OHA (25%) 45* SC Increase* -22 Dividend -12 Stock Buyback -14 Other Cash Dec’25 Byte Group • Maintain and expand EBITDA margin Food • Selective M&As • Capex to expand EBITDA margin attica Department Stores • No M&A activity • Addition of new sq.m. (Citylink, Hellinikon) Existing Investments New Investments Dividend Policy * Denotes 25% of BYTE Group, attica & Barba Stathis investments * Net of SCI expenses HoldCo Cash 2021 2026
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H O L D I N G S VI. Appendices
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17 IDEAL Holdings Structure December 2025 FY 2025 Financial Results Presentation 100% 100% 75% Systems Integration Cloud MigrationCybersecurity Department Stores Frozen Vegetables Steamed Vegetables Corporate Vehicle 100% 100% 90% 75% IDEAL Technology Distribution Metrosoft Distribution 25% Merged with Holdings 100%
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18 Distribution & Holdings Comparable Financials FY 2025 Financial Results Presentation Revenues EBITDA EAT € mil FY 2024 FY 2025 41.0 42.6 +4% € mil FY 2024 FY 2025 2.9 1.8 -37% € mil FY 2024 FY 2025 2.2 1.3 -43% Distribution Financials Revenues EBITDA Net Debt/ (Cash) € mil FY 2024 FY 2025 41.0 42.6 +4% € mil FY 2024 FY 2025 -1.5 -2.1 € mil FY 2024 FY 2025 -8.9 23.9 Holdings & Distribution Financials
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19 Consolidated Comparable Financials FY 2025 Financial Results Presentation € mil FY 2024 FY 2025 Δ Revenue 380.3 513.4 +35% COGS (252.2) (340.1) Gross Profit 128.1 173.3 +35% OPEX (94.4) (124.7) EBIT 33.7 48.5 +44% Financial results, net (9.8) (11.8) EBT 23.9 36.7 +54% Corporate Tax (7.5) (10.6) EAT 16.4 26.1 +59% D&A 5.6 9.5 Comparable EBITDA 39.3 58.0 +48% Statutory EBITDA 50.0 62.8 +26% P&L Statement Revenue (€ mil) FY 2024 FY 2025 Comparable Revenue 380.3 513.4 Acquisition time difference1 (6.0) (32.1) Statutory Revenue 374.2 481.3 Comparable vs Statutory Source: IDH Management Accounts 1. Acquisition time difference: • 2024: Bluestream for the period 01.01 – 18.7.2024 • 2025: Barba Stathis for the period 01.01-31.03.2025. EBITDA (€ mil) FY 2024 FY 2025 Comparable EBITDA 39.3 58.0 Acquisition time difference1 (1.2) (3.3) IFRS 16 effect 17.1 18.3 Extraordinary/ One-off expenses (5.2) (10.2) Statutory EBITDA 50.0 62.8
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H O L D I N G S 20 Important Notice This presentation has been prepared by IDEAL Holdings S.A. solely for informational purposes for its public stockholders in connection with evaluating the business, operations and financial results of IDEAL Holdings S.A. and its subsidiaries (collectively, “IDEAL”). This presentation is not and shall not be construed as an offer to purchase or sell, or the solicitation of an offer to purchase or sell any securities of IDEAL Holdings S.A. Also, this presentation does not constitute investment advice or recommendation concerning the purchase, sale or subscription to any securities of IDEAL Holding S.A. and cannot be the basis of any such an investment advice or recommendation provided by any person, recipient of this presentation or not, to other recipients or third parties. This presentation may not be distributed, referenced, quoted or linked by website, in whole or in part, except as agreed to in writing by IDEAL Holdings S.A. The statements contained in this presentation are made as of the date of this presentation (other than financial figures, which are as of most recent quarter end), unless another time is specified in relation to them, and access to this presentation at any given time shall not give rise to any implication that there has been no change in the facts set forth in this presentation since that date. This presentation contains certain forward-looking statements pertaining to IDEAL, including with respect to the companies managed and owned by IDEAL. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. You can identify these forward-looking statements by the use of words such as "outlook," "believe," “think,” "expect," "potential," “fair”, "continue," "may," "should," "seek," "approximately," "predict," “forecast”, "intend," "will," "plan," "estimate," "anticipate," the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. These forward-looking statements are based on IDEAL’s beliefs, assumptions and expectations, but these beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to IDEAL or within its control. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is no guarantee of future results. All forward-looking statements speak only as of the date of this presentation. IDEAL does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of this presentation except as required by law. This presentation includes certain non-IFRS and other operating and performance measures. These non-IFRS measures are in addition to, and not a substitute for, measures of financial performance prepared in accordance with IFRS. While we believe that providing these non-IFRS measures is helpful to investors in assessing the overall performance of IDEAL’s business, they may not include all items that are significant to an investor’s analysis of our financial results. In addition, information about factors affecting IDEAL, including a description of risks that should be considered when making a decision to purchase or sell any securities of IDEAL Holdings S.A., can be found in IDEAL Holdings S.A.’s Reports made public as applicable law requires. Disclaimer 25 Kreontos Str., 104 42, Athens, Greece +30 210 5193740 https://www.idealholdings.gr