Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — Q1 2024 Earnings Presentation
28 slides from Quest Holdings Sa's earnings presentation, May 20, 2024
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 3M 2024 Financial Results
Slide 2: 3M 2024 Results
01.3M 2024Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (3M 2024)
Quest Group at a Glance (3M 2024) ▪ €303m Revenues 30 Countries 43 years 3.015 ▪ €19m EBITDA International Activity (est. in 1981) Headcount ▪ €12m EBT ( ~26% of revenue) ▪ €271m Equity Active in : Revenues Track Record 2020 -2024 ▪ Commercial Activities1 € 209m ▪ Revenue CAGR 20% ▪ IT Services € 56
Slide 4: 3M 2024 Highlights
Quest Group 1 3M 2024 Highlights Sales up 6%, mild growth in all segments Consolidated profitably decline, mainly driven by the squeezed gross margin in 2 commercial companies, weak quarter for clima/commercial activities sector and the increasing finance cost for working capital. 3 Commercial activ
Slide 5: P&L (3M 2024)
P&L (3M 2024) Amounts in ‘000 € 3M 2024 YoY % 3M 2023 Sales 303.118 6,0% 285.946 EBITDA 18.649 -4,2% 19.468 Explanations/Clarifications: % sales 6,2% 6,8% EBIT 14.919 -8,0% 16.216 ▪ Sales growth was primarily driven by % sales 4,9% 5,7% the Commercial Sector EBTD 15.413 -8,8% 16.906 ▪ EBITDA & EBT d
Slide 6: P&L (3M 2024) EBITDA, Sales, EBT
P&L (3M 2024) Amounts in ,000 € EBITDA 25.000 8,5% 8,5% 10,0% 20.000 7,1% 6,8% 8,0% 6,2% 2023 VS 2019 15.000 6,0% +49% 10.000 19.468 4,0% 4years CAGR 18.368 16.878 18.649 SALES 350.000 5.000 12.559 2,0% +10% 300.000 - 0,0% 2024 VS 2020 250.000 2020 2021 2022 2023 2024 +105% 200.000 4years CAGR 150.0
Slide 7: Balance sheet (3M 2024)
Balance sheet (3M 2024) Amounts in ‘000 € Group Balance Sheet 3M 2024 12M 2023 Tangible & intangible assets 151.935 150.160 Right-of-use assets 32.016 30.239 Goodwill 37.051 37.051 Other 48.914 28.730 Non-current assets 269.916 246.180 Inventories 107.330 87.637 €714m €271m Trade & other receivables
Slide 8: Cash Flow (3M 2024)
Cash Flow (3M 2024) Amounts in ,000 € Group Cash Flow 3M 2024 3M 2023 EBT 11.682 13.654 Depreciation/Amortization 3.731 3.252 Interests Expense / (income) 3.199 2.897 WoC (Change in Inventories, Receivables, Payables) (19.911) (23.082) Tax paid (2.714) (2.202) Other operating activities (4.005) (2.9
Slide 9: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 3M Financial Results ▪ Largest distributor of H/W and S/W products in Greece ▪ €823m revenue in 2023 Amount in ,000€ 3M 2024 YoY % 3M 2023 ▪ 40%+ of ICT distribution Market in Greece Sales 209.156 5% 198.489 ▪ Certified Greek partner of major internationa
Slide 10: IT Services Segment
IT Services Segment Info/Overview 3M Financial Results ▪ Leading IT integrator in domestic market ~ 20% M. Share ▪ €214m revenue in 2023 Amount in ,000€ 3M 2024 YoY % 3M 2023 ▪ 30+ countries of operations Sales 55.944 10% 50.701 ▪ ~50% International revenues mainly within EU EBITDA 4.684 -2% 4.772 %
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 2024 YoY % 3M 2023 ▪ €150m revenue in 2023 Sales 35.926 3% 34.737 ▪ Leading Alternative Postal Operator in Greece (~5% Μ. Share) EBITDA 5.769 3% 5.608 ▪ 50+m sh
Slide 12: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 3M Financial Results ▪ €9,9m revenues for Quest Energy during 2023 Amount in ,000€ 3M 2024 YoY % 3M 2023 ▪ Quest Energy owns 24 photovoltaic parks with > 39MW Sales 2.092 4% 2.019 power EBITDA 1.592 6% 1.500 ▪ Quest Holdings(QH): Parent Company, operate
Slide 13: Segment Contribution in Sales & Ebitda (3M 2024)
Segment Contribution in Sales & Ebitda (3M 2024) Amounts in ,000 € Commercial Courier & IT Services Energy & Other Total Group Activities Postal 209.156 55.944 35.926 2.092 18,5% 11,9% 0,7% Sales 303.118 69,0% 6.603 4.684 5.769 1.592 Ebitda 25,1% 30,9% 8,5% 35,4% 18.648 EBITDA Margin 3,2% 8,4% 16,1%
Slide 14: Segment Analysis 3M 2024
Segment Analysis 3M 2024 Amounts in ,000 € 3M 2024 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Total gross segment sales 243.591 56.608 36.144 2.167 - 338.510 Inter-segment sales (34.435) (664) (218) (75) - (35.392) Net sales 209.156 55.944 35.92
Slide 15: 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 or low
Slide 16: 2024 Outlook
Group Outlook 1 Positive Outlook for 2024. Mild Growth at all lines Sales, EBITDA and EBT is estimated. 2024 Outlook 2 Strong demand for IT services. 3 Xiaomi Romania, Epafos expanding. 4 Strong financial position (>€300m cash and credit lines). 16
Slide 17: Appendix
02. Appendix Other Corporate info More Financial Data 17
Slide 18: 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 19: 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 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 1197 700 1000 1032 600 948 800 500 600 721 400 600 400 498 300 436 388 315 353 200 200 100 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2017 2018 2019 2020 2021 2022 2023 2024 90 EBITDA 180 Capital Return 80 1
Slide 22: Value Created to Investors
Value Created to Investors 8 2900 7 Quest share value (€) Market Cap* 2400 6 € 630m General Index 5 1900 Aggregate Capital Return/ Dividends to the Shareholders 4 (2019-2023) ** 1400 3 € 114m 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%
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 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 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 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 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