Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — FY2021 Earnings Presentation
30 slides from Quest Holdings Sa's earnings presentation, April 2022
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 12M 2021 Financial Results
Slide 2: 12M 2021 Results
01.12M 2021Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (12M 2021)
Quest Group at a Glance (12M 2021) ▪ €948m Revenues 30 Countries 40 years 2.329 ▪ €76m EBITDA International Activity (est. in 1981) Headcount ▪ €136m EBT ( ~19% of revenue) ▪ €259m Equity Active in : Revenues Track Record 2017 -2021 ▪ Commercial Activities1 € 618m ▪ Revenue CAGR 21,4% ▪ IT Services
Slide 4: 12M 2021 Highlights
Quest Group Strong performance with double digit organic growth in all lines: 1 12M 2021 Highlights • Sales +31%, Ebitda +26%, EBT +287% EAT x 7 - overall • Sales +33%, Ebitda +34%, EBT +60% EAT +214% - Continuing Operations Adj. 2 Continued Operations Sales grew at a double-digit pace with 3 subsid
Slide 5: P&L (12M 2021)
P&L (12M 2021) Amounts in ,000 € Explanations/Clarifications: 12M 2021 YoY % YoY % 12M 2020 Continued Discontinued Cont. Continued Discontinued Total Operat. Total Total Operations operations Operations operations Sales 915.934 31.948 947.882 33,3% 31,4% 687.007 34.352 721.359 ▪ Sales growth was pri
Slide 6: P&L (12M 2021)
P&L (12M 2021) Amounts in ,000 € EBITDA 8,0% 80.000 9,0% 8,9% 10,0% 8,3% 6,8% 8,0% 60.000 2021 VS 2017 40.000 75.561 6,0% +92,5% 4,0% 4years CAGR 1.000.000 SALES 53.393 59.858 20.000 39.251 33.901 2,0% +17,8% 800.000 2021 VS 2017 - 0,0% +117% 600.000 2017 2018 2019 2020 2021 4years CAGR 947.882 400.
Slide 7: Balance sheet (12M 2021)
Balance sheet (12M 2021) Amounts in ,000 € Group Balance Sheet 12M 2021 12M 2020 Tangible & intangible assets 110.354 105.819 Right-of-use assets 18.669 20.257 Goodwill 19.350 31.551 Other 37.544 41.368 Non-current assets 185.917 198.995 Inventories Trade & other receivables 56.618 177.559 43.475 15
Slide 8: Cash Flow (12M 2021)
Cash Flow (12M 2021) Amounts in ,000 € Group Cash Flow 12M 2021 12M 2020 EBT 136.146 35.222 Depreciation/Amortization 13.958 17.595 Interests Expense / (income) 5.660 5.815 (Increase) / dicrease of Inventories (15.140) (11.980) (Increase) / dicrease of Receivables (36.228) (34.070) (Increase)/ decre
Slide 9: Quarterly results
Quarterly results Amounts in ,000 € Q1 2021 YoY % Q1 2020 Q2 2021 YoY % Q2 2020 6M 2021 YoY % 6M 2020 Q3 2021 YoY % Q3 2020 9M 2021 YoY % 9M 2020 Q4 2021 YoY % Q4 2020 12M 2021 YoY % 12M 2020 Sales 216.018 46,2% 147.748 231.434 48,2% 156.179 447.451 47,2% 303.927 221.833 25,3% 177.034 669.284 39,2%
Slide 10: Quarterly results (Continued operations)
Quarterly results (Continued operations) Amounts in ,000 € Q1 2021 YoY % Q1 2020 Q2 2021 YoY % Q2 2020 6M 2021 YoY % 6M 2020 Q3 2021 YoY % Q3 2020 9M 2021 YoY % 9M 2020 Q4 2021 YoY % Q4 2020 12M 2021 YoY % 12M 2020 Sales 205.028 46,9% 139.570 221.522 49,7% 147.981 426.549 48,3% 287.551 210.787 25,5%
Slide 11: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 12M Financial Results ▪ Largest distributor of H/W and S/W products in Greece ▪ €618m revenue in 2021 Amount in ,000€ 12M 2021 YoY % 12M 2020 ▪ 40%+ of ICT distribution Market in Greece Sales 618.494 47% 419.955 ▪ Certified Greek partner of major internat
Slide 12: IT Services Segment
IT Services Segment Info/Overview 12M Financial Results ▪ Leading IT integrator in domestic market ~ 20% Market Amount in ,000€ 12M 2021 YoY % 12M 2020 Share Sales 152.990 16% 132.370 ▪ €153m revenue in 2021 EBITDA 12.504 53% 8.176 ▪ 30+ countries of operations % sales 8,2% 6,2% ▪ ~40% International
Slide 13: Courier & Postal Segment
Courier & Postal Segment Info/Overview 12M Financial Results ▪ Largest Local Courier in Greece (~ 24% Μ. Share ) Amount in ,000€ 12M 2021 YoY % 12M 2020 ▪ €135m revenue in 2021 Sales 135.104 7% 125.927 ▪ Leading Alternative Postal Operator in Greece (~7% Μ. Share) EBITDA 21.360 27% 16.825 % sales 15
Slide 14: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 12M Financial Results ▪ €9,3m revenue in 2021 due to 2019 investments Amount in ,000€ 12M 2021 YoY % 12M 2020 ▪ Quest Energy owns 16 photovoltaic parks of 28MW Sales 9.346 7% 8.755 power EBITDA 7.300 0% 7.332 ▪ Quest Holdings(QH): Parent Company, operat
Slide 15: Electronic Payments Segment (Discontinued Operations)
Electronic Payments Segment (Discontinued Operations) Info/Overview 12M Financial Results ▪ Leading POS network operator in Greece Amount in ,000€ 12M 2021 YoY % 12M 2020 ▪ €32m revenue in 9M 2021 Sales 31.948 -7% 34.352 ▪ ~230K installed POS in merchants EBITDA 11.503 -4% 11.946 ▪ ~40% Μarket Share
Slide 16: Segment Contribution in Sales & Ebitda (12M 2021)
Segment Contribution in Sales & Ebitda (12M 2021) Amounts in ,000 € Commercial Courier & Electronic IT Services Energy & Other Payments Total Group Activities Postal Discontinued Operations 618.494 152.990 9.346 31.948 135.104 16,1% 1,0% 3,4% 14,3% Sales 947.882 65,3% 15.707 8.768 15.641 6.235 11.53
Slide 17: Segment Analysis 12M 2021
Segment Analysis 12M 2021 Amounts in ,000 € Discontinued 12M 2021 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Continued operations Total operations Total gross segment sales 691.438 154.859 137.566 9.255 510 993.628 31.948 1.025.576 Inter-segment sales
Slide 18: 2022 Outlook
Group Outlook 12M 2021 is the Best Ever Year for Quest Group in terms of actual numbers and growth on YoY 1 basis 2022 Outlook 2022 initial estimations and start of the year (2Μ) were positive in terms of revenues and profitability for continued operations. However unforeseen events which occurred a
Slide 19: 02. Appendix
02. Appendix Other Corporate info More Financial Data 19
Slide 20: 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) ▪ €147m Equity Active in : Revenues Track Record 2015 -2020 ▪ Commercial Activity* € 420m ▪ Revenue CAGR 17% ▪ IT Services € 132
Slide 21: 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) - (472) (
Slide 22: 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 23: Value Created to Investors
Value Created to Investors 7 2.900 Quest share value (€) Market Cap* 6 2.400 € 669m 5 General Index 1.900 4 Aggregate Capital Return/ Dividends to the Shareholders (2017-2021) ** 3 1.400 € 68m 900 2 1 400 0 RoE (=EBT/Total Equity) 2017 2018 2019 2020 2021 60,0% 40,0% Free Float 52,6% 24,73% Theodoro
Slide 24: Resilience in challenging times
Resilience in challenging times Amounts in million € 1000 Sales Market Cap 948 900 800 800 700 700 600 721 600 500 600 500 400 498 400 436 300 300 388 353 200 295 315 200 283 100 100 0 2017 2018 2019 2020 2021 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 80 EBITDA Capital Return 76 120 70 100 9
Slide 25: Growth Drivers
Growth Drivers Mobility Cloud & IoT E-Commerce International Markets Commercial Networks Renewable Energy M&A Inorganic Growth 25
Slide 26: 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 27: 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 28: 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 29: 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 30: Thank you
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