Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — H1 2021 Earnings Presentation
29 slides from Quest Holdings Sa's earnings presentation, September 2021
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 6M 2021 Financial Results
Slide 2: 6M 2021 Results
01.6M 2021Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (6M 2021)
Quest Group at a Glance (6M 2021) ▪ €447m Revenues 30 Countries 40 years 2.259 ▪ €39m EBITDA International Activity (est. in 1981) Headcount ▪ €30m EBT ( ~19% of revenue) ▪ €156m Equity Active in : Revenues Track Record 2017 -2021 ▪ Commercial Activities1 € 278m ▪ Revenue CAGR 24% ▪ IT Services € 77
Slide 4: 6M 2021 Highlights
Quest Group ▪ Strong performance with Double Digit and organic growth in all lines: 1 Sales +47% Ebitda +45% EBT +94% EAT +112% 6M 2021 Highlights ▪ Sales of all sectors (excluding Quest Energy) grew at double-digit pace. All sectors 2 manage to have significant contribution in profitability EBT, wh
Slide 5: P&L (6M 2021)
P&L (6M 2021) Amounts in ,000 € 6M 2021 YoY % 6M 2020 Explanations/Clarifications: Continued Discontinued Continued Discontinued Total Total ▪ Sales growth was driven by all sectors. Operations operations Operations operations Majority of sales growth came from Sales 426.549 20.902 447.451 47,2% 287
Slide 6: P&L (6M 2021) Sales, EBITDA, EBT
P&L (6M 2021) Amounts in ,000 € EBITDA 50.000 12,0% 9,9% 8,8% 8,9% 8,8% 10,0% 40.000 8,2% 2021 VS 2017 8,0% SALES 30.000 6,0% +149,5% 500.000 20.000 39.251 4years CAGR 4,0% 400.000 10.000 15.732 20.218 25.645 27.146 2,0% +25,7% 2021 VS 2017 - 0,0% 300.000 +133% 200.000 447.451 2017 2018 2019 2020 20
Slide 7: Balance sheet (6M 2021)
Balance sheet (6M 2021) Amounts in ,000 € Group Balance Sheet 6M 2021 12M 2020 Tangible & intangible assets 100.661 105.819 Right-of-use assets 18.186 20.257 Goodwill 14.953 31.551 Other 33.195 45.081 Non-current assets 166.995 202.709 Inventories 57.841 43.475 Trade & other receivables Cash and cas
Slide 8: Cash Flow (6M 2021)
Cash Flow (6M 2021) Amounts in ,000 € Group Cash Flow 6M 2021 6M 2020 EBT 30.384 15.655 Depreciation/Amortization 7.743 8.807 Interests Expense / (income) 3.241 2.492 WoC (Change in Inventories, Receivables, Payables) (42.752) (19.453) Tax paid (7.244) (349) Other operating activities (5.032) (3.298
Slide 9: Quarterly results
Quarterly results Amounts in ,000 € Q1 2021 YoY % Q1 2020 Q2 2021 YoY % Q2 2020 6M 2021 YoY % 6M 2020 Sales 216.018 46,2% 147.748 231.434 48,2% 156.179 447.451 47,2% 303.927 EBITDA 18.368 46,3% 12.559 20.882 43,2% 14.588 39.251 44,6% 27.146 % sales 8,5% 8,5% 9,0% 9,3% 8,8% 8,9% EBIT 14.446 77,5% 8.1
Slide 10: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 6M Financial Results ▪ Largest distributor of H/W and S/W products in Greece ▪ €420m revenue in 2020 Amount in ,000€ 6M 2021 YoY % 6M 2020 ▪ 40%+ of ICT distribution Market in Greece Sales 278.267 71% 162.551 ▪ Certified Greek partner of major internation
Slide 11: IT Services Segment
IT Services Segment Info/Overview 6M Financial Results ▪ Leading IT integrator in domestic market ~ 20% Market Share Amount in ,000€ 6M 2021 YoY % 6M 2020 ▪ €132m revenue in 2020 Sales 76.622 22% 62.745 ▪ 30+ countries of operations EBITDA 6.248 97% 3.174 % sales 8,2% 5,1% ▪ ~40% International reven
Slide 12: Courier & Postal Segment
Courier & Postal Segment Info/Overview 6M Financial Results ▪ Largest Local Courier in Greece (~ 24% Μ. Share ) Amount in ,000€ 6M 2021 YoY % 6M 2020 ▪ Leading Operator in SE Europe Sales 66.739 16% 57.443 ▪ €126m revenue in 2020 EBITDA 10.645 33% 8.033 ▪ Leading Alternative Postal Operator in Greec
Slide 13: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 6M Financial Results ▪ €8,9m revenue in 2020 with 35% growth due to 2019 investments Amount in ,000€ 6M 2021 YoY % 6M 2020 ▪ Quest Energy owns 16 photovoltaic parks of 28MW Sales 4.921 2% 4.812 power EBITDA 3.949 -14% 4.570 ▪ Quest Holdings(QH): Parent
Slide 14: Electronic Payments Segment (Discontinued Operations)
Electronic Payments Segment (Discontinued Operations) Info/Overview 6M Financial Results ▪ Leading POS network operator in Greece Amount in ,000€ 6M 2021 YoY % 6M 2020 ▪ €34m revenue in 2020 Sales 20.902 28% 16.376 ▪ ~230K installed POS in merchants EBITDA 7.708 34% 5.747 ▪ ~40% Μarket Share in POS
Slide 15: Segment Contribution in Sales & Ebitda (6M 2021)
Segment Contribution in Sales & Ebitda (6M 2021) Amounts in ,000 € Commercial Courier & Electronic IT Services Energy & Other Payments Total Group Activities Postal Discontinued Operations 278.267 76.622 66.739 4.921 20.902 17,1% 14,9% 1,1% 4,7% Sales 62,2% 447.451 3.949 7.708 10.701 6.248 10.645 10
Slide 16: Segment Analysis 6M 2021
Segment Analysis 6M 2021 Amounts in ,000 € Discontinued 6M 2021 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Continued operations Total operations Total gross segment sales 312.152 77.926 67.575 4.865 280 462.798 20.902 483.700 Inter-segment sales (33.8
Slide 17: 2021 Outlook
Group Outlook 1 6M 2021 is the best ever H1 for Quest Group in terms of actual numbers and growth on YoY basis 2021 Outlook 12M 2021 revenues and profitability are estimated to be higher than 12M 2020. Most segments 2 are estimated to grow at double digit rates, resulting at consolidated level to an
Slide 18: Appendix
02. Appendix Other Corporate info More Financial Data 18
Slide 19: Quest Group at a Glance (12M 2020)
Quest Group at a Glance (12M 2020) ▪ €721m Revenues 30 Countries 40 years 2.256 ▪ €60m EBITDA International Activity (est. in 1981) Headcount ▪ €35m EBT ( ~19% of revenue) ▪ €143m Equity Active in : Revenues Track Record 2015 -2020 ▪ Commercial Activity* € 420m ▪ Revenue CAGR 17% ▪ IT Services € 132
Slide 20: Segment Analysis 12M 2020
Segment Analysis 12M 2020 Amounts in ,000 € Commercial Electronic 12M 2020 (€ x 1.000) ΙΤ Services Courier & Postal Renewable Energy Unallocated Total Activities Payments Total gross segment sales 473.190 134.150 127.608 34.352 9.438 492 779.231 Inter-segment sales (53.236) (1.781) (1.682) (178) (47
Slide 21: Operating Model
Operating Model CONTROL LEADING COMPANIES ACTIVE MANAGEMENT DIVERSIFIED PORTFOLIO 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 management sectors Strategy
Slide 22: General Index
Value Created to Investors 16 2.900 Quest share value (€) Market Cap* 14 2.400 € 492m 12 General Index 10 1.900 Aggregate Capital Return/ Dividends to the Shareholders 8 (2017-2021) ** 1.400 6 € 68m 900 4 2 400 0 RoE (=EBT/Total Equity) 2016 2017 2018 2019 2020 2021 30,0% 20,0% Free Float 21,1% 24,7
Slide 23: Resilience in challenging times
Resilience in challenging times Amounts in million € 800 Sales Market Cap 721 700 500 600 600 400 500 498 400 436 300 388 300 353 200 307 295 315 283 200 100 100 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2021 70 EBITDA Capital Return 120 60 60 100 102 50 11 53 80 1
Slide 24: Growth Drivers
Growth Drivers Mobility & IoT E-Commerce International Markets Commercial Networks M&A Inorganic Growth 24
Slide 25: Quest Holdings BoD
Quest Holdings BoD Theodore Fessas Eftichia Koutsoureli Apostolos Georgantzis Markos Bitsakos Nikolaos Labroukos Pantelis Tzortzakis 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 De
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 & ESG Strategy
Sustainability & ESG Strategy Strategic ESG Focus ▪ Governance: Responsible and Ethical Entrepreneurship, Full ▪ Sustainable Development is a strategic focus for Quest Group Compliance with Group Policies and Regulations committed to supporting the 17 UN Sustainable Development Goals ▪ Environment:
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
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