Ideal Holdings S.a. · ATHEX:INTEK
Ideal — Merger or Acquisition (June 2023)
16 slides from Ideal's merger presentation, June 2023
Slide 1: Attica Department Stores Investment Presentation
Attica Department Stores Investment Presentation JUNE 2023
Slide 2: Table of contents
Table of contents Section Page I. ADS Investment opportunity 3 II. Transaction overview 5 III. ADS Business overview 8 IV. Consolidated view 13 Disclaimer 16 Attica Department Stores – Investment Presentation 2
Slide 3: I. ADS Investment opportunity
I. ADS Investment opportunity
Slide 4: Executive summary - Investment rationale
Executive summary - Investment rationale Target ▪ Attica Department Stores (“ADS”) fits 100% in IDEAL Holdings SA (“IDH”) investment philosophy: ▪ Attica Department Stores • Leading company, • Excellent Management, • Strong CF, • Alignment of interest; Industry/ Sector Proposed • Healthy BS, ▪ Speci
Slide 5: II. Transaction overview
II. Transaction overview
Slide 6: Sources & Uses of funding
Sources & Uses of funding Sources Amount in € (%) Uses Amount in € (%) KT Golden shares Acquisition Debt 65,000,000 65.0% 100,000,000 100% acquisition Acquirer’s new shares 32,543,200 32.5% (Equity) (*) Acquirer’s treasury stock 2,456,800 2.5% (*) Total sources 100,000,000 100.0% Total uses 100,000,
Slide 7: Acquisition metrics
Acquisition metrics Metrics ADS ADS IDH Type IDH 2022 2023 2022 2023 P/E 10.3x 8.0x 12.9x Accretive 8.3x P/ Sales 0.5x 0.5x 1.1x Accretive 0.6x P/ Book value 1.1x 1.0x 1.9x Accretive 1.1x EPS - - €0.39 Accretive €0.62 ROE 11% 13% 15% Flat 13% EV/ EBITDA (x) 4.8x 4.0x 7.9x Accretive 5.6x EV/ EBIT (x)
Slide 8: III. ADS Business Overview
III. ADS Business Overview
Slide 9: Positioning
ADS Business ADS overview ADS business model ✓ Citylink ❖ Market leader strongly benefiting from sector consolidation and its Positioning strong competitive position; # of ✓ Golden Hall ❖ Excellent brand positioning with protection from price wars; Stores: 5 ✓ Tsimiski Consignment: ✓ Cosmos ❖ Well p
Slide 10: ADS summary of key financials
ADS summary of key financials ADS Financials (non IFRS16) €millions 2018 2019 2020 2021 2022 Revenue 181.3 183.7 98.8 144.1 190.6 P&L trading update May 2023 vs 2022 Gross Profit 59.7 60.9 31.0 45.6 65.9 €millions May 2022 May 2023 Growth EBITDA 19.1 18.1 4.4 14.6 19.3 Revenue 64.6 74.9 16% EBITDA m
Slide 11: Projected financials
Projected financials ADS P&L 5Y Projections (non IFRS16) €millions 2023E 2024P 2025P 2026P 2027P Key assumptions Sales 209.7 220.2 226.8 233.6 240.6 ❖ Sales growth: CAGR 4.8% Gross Profit 74.4 78.2 81.3 84.5 87.9 ❖ Gross Profit margin: 35.5% EBITDA 23.5 24.5 25.5 26.5 27.6 ❖ EBITDA margin: 11.2% EBI
Slide 12: Top line growth drivers 2023 onwards
Top line growth drivers 2023 onwards 1. Additional m² 2. Portfolio & partnership expansion ▪ Expand existing locations with proven ▪ Selective brand portfolio to be further economics. The Company has just expanded with new partnerships; expanded its women’s department by 2,000m² at Citylink; ▪ Portf
Slide 13: IV. Consolidated view
IV. Consolidated view
Slide 14: New IDEAL Holdings structure
New IDEAL Holdings structure IDEAL Holdings 100% 100% 100% Astir BYTE Attica Department Vitogiannis SA SA Stores SA 100% 100% 100% 74.99% ADACOM IDEAL Coleus Metrosoft SA Electronics Packaging Ltd. ADACOM CY INDUSTRIAL IT (*) RETAIL Parent entity Percentage of ownership (*) New structure under compl
Slide 15: IDH consolidated figures
IDH consolidated figures €millions 2022A 2023E Growth % Revenue (€m) 174.7 392.1 Gross Profit (€m) 51.0 127.7 EBITDA (€m) 27.4 53.2 +94% ▪ IDH ranks on ATHEX EBIT (€m) 24.1 46.0 (excl. banks): EBT (€m) 21.5 38.5 +79% No of shares 40,134,921 48,003,921 +20% ▪ 24th in Revenues Share Price (€) 4.95 4.9
Slide 16: Disclaimer
Disclaimer 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