Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — 9M 2024 Earnings Presentation
29 slides from Quest Holdings Sa's earnings presentation, Nov 18, 2024
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 9M 2024 Financial Results
Slide 2: 9M 2024 Results
01.9M 2024 Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (9M 2024)
Quest Group at a Glance (9M 2024 ) ▪ €926m Revenues 30 Countries 43 years 3.348 ▪ €65m EBITDA International Activity (est. in 1981) Headcount ▪ €43m EBT ( ~28% of revenue) ▪ €266m Equity Active in : Revenues Track Record 2020 -2024 ▪ Commercial Activities1 € 626m ▪ Revenue CAGR 18% ▪ IT Services € 1
Slide 4: 9M 2024 Highlights
Quest Group 1 9M 2024 Highlights Sales up 12% with growth in all segments. Mild increase in profitably impacted by squeezed gross margins in commercial 2 companies, weaker performance for clima sector and working capital cost. 3 Most if our activities are gaining market shares in a tough environment
Slide 5: P&L (9M 2024)
P&L (9M 2024 ) Amounts in ‘000 € 9M 2024 YoY % 9M 2023 Explanations/Clarifications: Sales 925.934 12,0% 826.985 EBITDA 65.121 8,9% 59.792 ▪ Sales growth driven by all Sectors % sales 7,0% 7,2% ▪ EBT milder growth impacted mainly EBIT 53.684 8,1% 49.673 by commercial activity: drop in gross % sales 5
Slide 6: P&L (9M 2024) EBITDA, Sales, EBT
P&L (9M 2024 ) Amounts in ,000 € EBITDA 70.000 8,9% 8,6% 10,0% 60.000 7,4% 7,2% 7,0% 8,0% 50.000 2024 VS 2020 6,0% 40.000 30.000 65.121 +51% 57.884 54.564 59.792 4,0% 4years CAGR SALES 20.000 43.018 1.000.000 10.000 2,0% +11% 800.000 - 0,0% 2024 VS 2020 2020 2021 2022 2023 2024 600.000 +93% 925.934
Slide 7: Balance sheet (9M 2024)
Balance sheet (9M 2024 ) Amounts in ‘000 € Group Balance Sheet 9M 2024 12M 2023 Tangible & intangible assets 155.617 150.160 Right-of-use assets 30.291 30.239 Goodwill 37.051 37.051 Other 43.578 28.730 Non-current assets 266.537 246.180 Inventories 94.182 87.637 €743m €266m Trade & other receivables
Slide 8: Cash Flow (9M 2024)
Cash Flow (9M 2024 ) Amounts in ,000 € Group Cash Flow 9M 2024 9M 2023 EBT 43.422 41.419 Depreciation/Amortization 11.436 10.118 Interests Expense / (income) 10.292 8.663 WoC (Change in Inventories, Receivables, Payables) (22.244) (58.449) Tax paid (14.063) (8.043) Other operating activities (11.272
Slide 9: Quarterly results
Quarterly results Amounts in ,000 € Q1 2024 YoY % Q1 2023 Q2 2024 YoY % Q2 2023 6M 2024 YoY % 6M 2023 Q3 2024 YoY % Q3 2023 9M 2024 YoY % 9M 2023 Sales 303.118 6,0% 285.946 316.949 22,8% 258.078 620.067 14,0% 544.024 305.866 8,1% 282.962 925.934 12,0% 826.985 EBITDA 18.649 -4,2% 19.468 22.975 17,6%
Slide 10: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 9M Financial Results ▪ Largest distributor of H/W and S/W products in Greece Amount in ,000€ 9M 2024 YoY % 9M 2023 ▪ €823m revenue in 2023 ▪ 40%+ of ICT distribution Market in Greece Sales 626.306 11% 563.480 ▪ Certified Greek partner of major internation
Slide 11: IT Services Segment
IT Services Segment Info/Overview 9M Financial Results ▪ Leading IT integrator in domestic market ~ 20% M. Share Amount in ,000€ 9M 2024 YoY % 9M 2023 ▪ €214m revenue in 2023 Sales 175.521 20% 146.574 ▪ 30+ countries of operations EBITDA 14.644 15% 12.703 ▪ ~50% International revenues mainly within
Slide 12: Courier & Postal Segment
Courier & Postal Segment Info/Overview 9M Financial Results ▪ Largest Local Courier operator in Greece (~ 24% Μ. Share ) Amount in ,000€ 9M 2024 YoY % 9M 2023 ▪ €150m revenue in 2023 Sales 115.400 6% 109.103 ▪ Leading Alternative Postal Operator in Greece (~5% Μ. Share) EBITDA 19.564 6% 18.381 ▪ 50+
Slide 13: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 9M Financial Results ▪ €9,9m revenues for Quest Energy during 2023 Amount in ,000€ 9M 2024 YoY % 9M 2023 ▪ Quest Energy owns 24 photovoltaic parks with > 39MW Sales 8.708 11% 7.829 power EBITDA 6.495 7% 6.076 ▪ Quest Holdings(QH): Parent Company, operat
Slide 14: Segment Contribution in Sales & Ebitda (9M 2024)
Segment Contribution in Sales & Ebitda (9M 2024 ) Amounts in ,000 € Commercial Courier & IT Services Energy & Other Total Group Activities Postal 626.306 175.521 115.400 8.708 19,0% 12,5% 0,9% Sales 67,6% 925.934 24.417 14.644 19.564 6.495 10,0% Ebitda 22,5% 30,0% 37,5% 65.119 EBITDA Margin 3,9% 8,3
Slide 15: Segment Analysis 9M 2024
Segment Analysis 9M 2024 Amounts in ,000 € 9M 2024 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Total gross segment sales 715.602 176.766 116.152 8.933 - 1.017.453 Inter-segment sales (89.297) (1.245) (752) (225) - (91.519) Net sales 626.306 175.5
Slide 16: Segment Outlook
Segment Outlook IT Services Commercial Activities ▪ Sales and profits are estimated to continue to grow during 2024, driven by strong demand and continuing ▪ Current estimation for 2024 includes a mild growth investments on digital transformation by the private in sales and Ebitda and similar EBT to
Slide 17: 2024 Outlook
Group Outlook 1 Mild Growth at all lines Sales, EBITDA and EBT is estimated for the whole year. 2024 Outlook 2 Strong demand for IT services continues. 3 Xiaomi Romania, Epafos (education tech) expanding. Stressed GMs. 4 Mild growth in e-Commerce (ACS, QoL). 17
Slide 18: Appendix
02. Appendix Other Corporate info More Financial Data 18
Slide 19: Quest Group at a Glance (12M 2023)
Quest Group at a Glance (12M 2023) ▪ €1.197m Revenues 30 Countries 43 years 2.975 ▪ €83m EBITDA International Activity (est. in 1981) Headcount ▪ €59m EBT ( ~26% of revenue) ▪ €262m Equity Active in : Revenues Track Record 2019 -2023 ▪ Commercial Activities1 € 823m ▪ Revenue CAGR 19% ▪ IT Services €
Slide 20: Segment Analysis 12M 2023
Segment Analysis 12M 2023 Amounts in ,000 € 12M 2023 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Total gross segment sales 948.610 216.332 150.777 10.297 - 1.326.016 Inter-segment sales (125.790) (2.147) (1.071) (404) - (129.412) Net sales 822.81
Slide 21: 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 22: Resilience in challenging times
Resilience in challenging times Amounts in million € 1400 Sales Market Cap 800 1200 1197 700 1000 600 1032 948 800 500 600 721 400 600 498 300 400 436 353 388 200 200 315 100 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 2024 90 EBITDA 250 Capital Return/Divi
Slide 23: Value Created to Investors
Value Created to Investors 8 2900 Quest share value (€) Market Cap* 7 2400 6 € 560m 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 RoE (=EBT/Total Equity) 60,0% Free Float 40,0% 24,73% Ted
Slide 24: Growth Drivers
Growth Drivers Mobility Cloud & IoT E-Commerce International Markets Commercial Networks Renewable Energy Clima M&A Inorganic Growth 24
Slide 25: Quest Holdings BoD
Quest Holdings BoD Theodore Fessas Eftichia Koutsoureli Apostolos Georgantzis Markos Bitsakos Nikolaos Labroukos Ioanna Dretta President –Exec. Member Non-Exec. Member Exec. Member Exec. Member Exec. Member Independent Non-Exec. Member Founder and major Shareholder and CEO of Quest Holdings Deputy C
Slide 26: 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 27: Sustainability – a strategic focus
Sustainability – a strategic focus ESG Strategy 2022-2030 Annual Sustainability ESG Ratings CSR priorities 4 Pillars - 10 Goals Reporting Participation Innovation & startup EcoSystems Environment -Reduce absolute emissions Scope 1&2 by 40% in 2030 - Climate Neutral 2050 -Circular Economy & Waste pre
Slide 28: 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 29: 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