Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — Q1 2025 Earnings Presentation
28 slides from Quest Holdings Sa's earnings presentation, May 16, 2025
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 3M 2025 Financial Results
Slide 2: 01. 3M 2025 Results
01.3M 2025 Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (3M 2025)
Quest Group at a Glance (3M 2025 ) ▪ €328m Revenues 30 Countries 44 years 3.392 ▪ €21m EBITDA International Activity (est. in 1981) Headcount ▪ €14m EBT ( ~28% of revenue) ▪ €369m Equity Active in : Revenues Track Record 2016 -2025 ▪ Commercial Activities1 € 225m ▪ Revenue CAGR 16% ▪ IT Services € 6
Slide 4: 3M 2025 Highlights
Quest Group 1 3M 2025 Highlights Significant Growth in all Lines (8,2% Sales , 13,7% EBITDA, 18,7% EBT) 2 Benrubi consolidation in effect since Feb 2025 3 ACS sales remained steady following weak e-commerce growth 4 High demand for IT services 4
Slide 5: P&L (3M 2025)
P&L (3M 2025 ) Amounts in ‘000 € 3M 2025 YoY % 3M 2024 Sales 328.030 8,2% 303.118 EBITDA 21.204 13,7% 18.649 Explanations/Clarifications: % sales 6,5% 6,2% EBIT 16.848 12,9% 14.919 ▪ Sales and profitability growth in % sales 5,1% 4,9% all Lines ▪ Profitability is boosted by Berbubi EBTD 18.219 18,2%
Slide 6: P&L (3M 2025) EBITDA, Sales, EBT trends
P&L (3M 2025 ) Amounts in ,000 € EBITDA 25.000 9,2% 9,5% 10,0% 8,5% 8,5% 9,0% 20.000 7,3% 7,1% 6,8% 8,0% 6,2% 6,2% 6,5% 7,0% 2025 VS 2016 15.000 6,0% +293% 5,0% 10years CAGR 350.000 SALES 10.000 4,0% 300.000 3,0% +16% 10.691 11.845 12.559 18.368 16.878 19.468 18.649 21.204 5.000 2,0% 5.389 7.027 202
Slide 7: Balance sheet (3M 2025)
Balance sheet (3M 2025 ) Amounts in ‘000 € Group Balance Sheet 3M 2025 12M 2024 Tangible & intangible assets 159.361 157.673 Right-of-use assets 40.293 36.030 Goodwill 57.616 37.051 Other 54.895 48.860 Non-current assets 312.165 279.614 Inventories 118.221 114.503 €909m €368m Trade & other receivabl
Slide 8: Cash Flow (3M 2025)
Cash Flow (3M 2025 ) Amounts in ,000 € Group Cash Flow 3M 2025 3M 2024 EBT 13.861 11.682 Depreciation/Amortization 4.357 3.731 Interests Expense / (income) 3.005 3.199 WoC (Change in Inventories, Receivables, Payables) (40.721) (19.911) Tax paid (1.145) (2.714) Other operating activities (3.248) (4.
Slide 9: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 3M Financial Results ▪ Largest distributor of H/W and S/W products in Greece Amount in ,000€ 3M 2025 YoY % 3M 2024 ▪ €916m revenue in 2024 Sales 225.433 8% 209.156 ▪ 40%+ of ICT distribution Market in Greece EBITDA 7.781 18% 6.603 ▪ Apple’s and Xiaomi’s V
Slide 10: IT Services Segment
IT Services Segment Info/Overview 3M Financial Results ▪ Leading IT integrator in domestic market Amount in ,000€ 3M 2025 YoY % 3M 2024 ▪ €241m revenue in 2024 Sales 64.790 16% 55.944 ▪ 30+ countries of operations EBITDA 6.194 32% 4.684 ▪ ~46% International revenues mainly within EU % sales 9,6% 8,4
Slide 11: Courier & Postal Segment
Courier & Postal Segment Info/Overview 3M Financial Results ▪ Largest Local Courier operator in Greece (~ 24% Μ. Share ) Amount in ,000€ 3M 2025 YoY % 3M 2024 ▪ €157m revenue in 2024 Sales 35.917 0% 35.926 ▪ Leading Alternative Postal Operator in Greece (~5% Μ. Share) EBITDA 5.957 3% 5.769 ▪ 50+m sh
Slide 12: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 3M Financial Results ▪ €10,5m revenues for Quest Energy during 2024 Amount in ,000€ 3M 2025 YoY % 3M 2024 ▪ Quest Energy owns 24 photovoltaic parks with > 39MW Sales 1.889 -10% 2.092 power EBITDA 1.273 -20% 1.592 ▪ Quest Holdings(QH): Parent Company, op
Slide 13: Segment Contribution in Sales & Ebitda (3M 2025)
Segment Contribution in Sales & Ebitda (3M 2025 ) Amounts in ,000 € Commercial Courier & IT Services Energy & Other Total Group Activities Postal 225.433 64.790 35.917 1.889 19,8% 10,9% 0,6% Sales 328.030 68,7% 7.781 5.957 1.273 6.194 Ebitda 28,1% 6,0% 29,2% 36,7% 21.204 EBITDA Margin 3,2% 8,4% 16,1
Slide 14: Segment Analysis 3M 2025
Segment Analysis 3M 2025 Amounts in ,000 € 3M 2025 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Total gross segment sales 257.083 65.117 36.145 1.964 - 360.309 Inter-segment sales (31.650) (327) (228) (75) - (32.280) Net sales 225.433 64.790 35.91
Slide 15: Segment Outlook
Segment Outlook IT Services ▪ Sales and profits are estimated to continue to grow Commercial Activities during 2025, driven by strong demand and continuing ▪ Initial estimation for 2025 includes growth in sales investments on digital transformation by the private and double digit EBITDA growth. and
Slide 16: 2025 Outlook
Group Outlook 1 Mild Growth in Sales, and stronger EBITDA growth for 2025. Ebitda to surpass €100m. 2025 Outlook 2 Commercial sector expanding despite the weak demand environment. 3 Strong demand for IT services continues. 4 Mild growth in e-Commerce (ACS, QoL). 16
Slide 17: 02. Appendix
02. Appendix Other Corporate info More Financial Data 17
Slide 18: Quest Group at a Glance (12M 2024)
Quest Group at a Glance (12M 2024 ) ▪ €1.325m Revenues 30 Countries 43 years 3.371 ▪ €92m EBITDA International Activity (est. in 1981) Headcount ▪ €65m EBT ( ~28% of revenue) ▪ €357m Equity Active in : Revenues Track Record 2015 -2024 ▪ Commercial Activities1 € 916m ▪ Revenue CAGR 16% ▪ IT Services
Slide 19: Segment Analysis 12M 2024
Segment Analysis 12M 2024 Amounts in ,000 € 12M 2024 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Total gross segment sales 1.051.903 243.022 158.099 10.850 - 1.463.873 Inter-segment sales (135.820) (1.582) (819) (300) - (138.521) Net sales 916.08
Slide 20: Operating Model
Operating Model INVESTMENT IN HAND’S ON MAJORITY SHAREHOLDER DIVERSIFIED PORTFOLIO MARKET LEADERS MANAGEMENT number Acquire and hold Subsidiaries are market Actively involved in Mitigate risk by controlling stakes in leaders in promising subsidiaries’ investing in different corporate assets sectors
Slide 21: Resilience in challenging times
Resilience in challenging times Amounts in million € 1400 Sales Market Cap 800 1200 1.325 700 1.197 1000 600 1.032 948 500 800 721 400 600 600 300 400 498 436 200 353 388 200 100 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2017 2018 2019 2020 2021 2022 2023 2024 2025 100 EBITDA 250 Capital R
Slide 22: Value Created to Investors
Value Created to Investors 8 2900 Quest share value (€) Market Cap* 7 2400 € 665m 6 General Index 5 1900 Aggregate Capital Return/ Dividends to the Shareholders 4 (2020-2024) 1400 3 € 132m 900 2 1 400 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 RoE (=EBT/Total Equity) 60,0% 40,0% Treasury Free Fl
Slide 23: Growth Drivers
Growth Drivers Mobility Cloud & IoT E-Commerce International Markets Commercial Networks Renewable Energy Clima M&A Inorganic Growth 23
Slide 24: Quest Holdings BoD
Quest Holdings BoD Theodore Fessas Eftichia Koutsoureli Apostolos Georgantzis Markos Bitsakos Maria Damanaki President –Exec. Member Non-Exec. Member Exec. Member Exec. Member Vice Chairwoman Founder and major Shareholder and CEO of Quest Holdings Deputy CEO of Quest Independent Non-Exec. shareholde
Slide 25: Corporate Governance
Corporate Governance ▪ The management and operation of the Quest Group is based Goals on a modern, dynamic and flexible Corporate Governance By applying the core principles of Corporate Governance, the model. company has set the following goals: ▪ Group Corporate Governance: ✓ Is in line with Greek
Slide 26: Sustainability – a Strategic Focus
Sustainability – a Strategic Focus Annual Sustainability ESG Strategy 2022-2025+ Reporting – from voluntary High Ratings in ESG Ratings CSR priorities 4 Pillars - 10 Goals to compliance Innovation & startup EcoSystems 2024: low risk Environment -Reduce absolute emissions Scope 1&2 by 40% in 2030 - C
Slide 27: Disclaimer
Disclaimer ▪ This document might contain estimations and forward-looking statements relating to the Group’s future business, development and economic performance. It also includes statements from sources that have not been independently verified by the Company. ▪ Such statements may be subject to a
Slide 28: Thank you
Thank you To receive our news subscribe to out newsletter here: www.quest.gr/en/Subscribe-to-newsletter or e- mail us at: ir@quest.gr