Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — 9M 2021 Earnings Presentation
30 slides from Quest Holdings Sa's earnings presentation, Nov 22, 2021
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 9M 2021 Financial Results
Slide 2: 9M 2021 Results
01.9M 2021Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (9M 2021)
Quest Group at a Glance (9M 2021) ▪ €669m Revenues 30 Countries 40 years 2.289 ▪ €58m EBITDA International Activity (est. in 1981) Headcount ▪ €120m EBT ( ~19% of revenue) ▪ €242m Equity Active in : Revenues Track Record 2017 -2021 ▪ Commercial Activities1 € 419m ▪ Revenue CAGR 23% ▪ IT Services € 1
Slide 4: 9M 2021 Highlights
Quest Group Strong performance with double digit organic growth in all lines: 1 • Sales +39%, Ebitda +35%, EBT +370% EAT x 14 - overall 9M 2021 Highlights • Sales +40%, Ebitda +35%, EBT +59% EAT +74% - Continuing Operations Adj. 2 Sales of all sectors (excluding Quest Energy) grew at a double-digit
Slide 5: P&L (9M 2021)
P&L (9M 2021) Amounts in ,000 € 9M 2021 YoY % YoY % 9M 2020 Explanations/Clarifications: Continued Discontinued Cont. Continued Discontinued Total Operat. Total Total Operations operations Operations operations ▪Sales growth was driven by all sectors. Majority of Sales 637.336 31.948 669.284 39,9% 3
Slide 6: P&L (9M 2021)
P&L (9M 2021) Amounts in ,000 € EBITDA 70.000 9,8% 10,0% 60.000 50.000 9,5% 2021 VS 2017 9,0% 40.000 30.000 8,8% 8,9% 8,6% 9,0% +118,5% 57.884 4years CAGR 20.000 39.317 43.018 800.000 SALES 10.000 26.490 30.315 8,5% +21,6% 2021 VS 2017 700.000 - 8,0% 2017 2018 2019 2020 2021 +127% 600.000 500.000 4y
Slide 7: Balance sheet (9M 2021)
Balance sheet (9M 2021) Amounts in ,000 € Group Balance Sheet 9M 2021 12M 2020 Tangible & intangible assets 102.530 105.819 Right-of-use assets 17.893 20.257 Goodwill 14.953 31.551 Other 46.617 45.081 Non-current assets 181.993 202.709 Inventories Trade & other receivables 56.975 146.073 43.475 153.
Slide 8: Cash Flow (9M 2021)
Cash Flow (9M 2021) Amounts in ,000 € Group Cash Flow 9M 2021 9M 2020 EBT 120.093 25.523 Depreciation/Amortization 11.466 13.225 Interests Expense / (income) 4.172 4.073 WoC (Change in Inventories, Receivables, Payables) (48.218) (41.816) Tax paid (12.733) (5.815) Other operating activities (81.272)
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 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% 480.961 EBITDA 18.368 46,3% 12.559 20.882 43,2
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 Sales 205.028 46,9% 139.570 221.522 49,7% 147.981 426.549 48,3% 287.551 210.787 25,5% 167.960 637.336 39,9% 455.511 EBITDA 14.282 5
Slide 11: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 9M Financial Results ▪ Largest distributor of H/W and S/W products in Greece ▪ €420m revenue in 2020 Amount in ,000€ 9M 2021 YoY % 9M 2020 ▪ 40%+ of ICT distribution Market in Greece Sales 419.291 57% 266.487 ▪ Certified Greek partner of major internation
Slide 12: IT Services Segment
IT Services Segment Info/Overview 9M Financial Results ▪ Leading IT integrator in domestic market ~ 20% Market Share Amount in ,000€ 9M 2021 YoY % 9M 2020 ▪ €132m revenue in 2020 Sales 111.703 19% 93.477 EBITDA 8.768 65% 5.308 ▪ 30+ countries of operations % sales 7,8% 5,7% ▪ ~40% International reve
Slide 13: Courier & Postal Segment
Courier & Postal Segment Info/Overview 9M Financial Results ▪ Largest Local Courier in Greece (~ 24% Μ. Share ) Amount in ,000€ 9M 2021 YoY % 9M 2020 ▪ Leading Operator in SE Europe Sales 98.593 12% 87.898 ▪ €126m revenue in 2020 EBITDA 15.641 20% 12.994 ▪ Leading Alternative Postal Operator in Gree
Slide 14: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 9M Financial Results ▪ €8,9m revenue in 2020 with 35% growth due to 2019 investments Amount in ,000€ 9M 2021 YoY % 9M 2020 ▪ Quest Energy owns 16 photovoltaic parks of 28MW Sales 7.749 1% 7.649 power EBITDA 6.235 -4% 6.514 ▪ Quest Holdings(QH): Parent C
Slide 15: Electronic Payments Segment (Discontinued Operations)
Electronic Payments Segment (Discontinued Operations) Info/Overview 9M Financial Results ▪ Leading POS network operator in Greece ▪ €34m revenue in 2020 Amount in ,000€ 9M 2021 YoY % 9M 2020 Sales 31.948 26% 25.450 ▪ ~230K installed POS in merchants EBITDA 11.533 31% 8.786 ▪ ~40% Μarket Share in POS
Slide 16: Segment Contribution in Sales & Ebitda (9M 2021)
Segment Contribution in Sales & Ebitda (9M 2021) Amounts in ,000 € Commercial Courier & Electronic IT Services Energy & Other Payments Total Group Activities Postal Discontinued Operations 419.291 111.703 98.593 7.749 31.948 16,7% 14,7% 1,2% 4,8% Sales 62,6% 669.284 15.707 8.768 15.641 6.235 11.533
Slide 17: Segment Analysis 9M 2021
Segment Analysis 9M 2021 Amounts in ,000 € Discontinued 9M 2021 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Continued operations Total operations Total gross segment sales 467.911 113.544 99.872 7.719 395 689.441 31.948 721.388 Inter-segment sales (48.
Slide 18: 2021 Outlook
Group Outlook 1 9M 2021 is the best ever for Quest Group in terms of actual numbers and growth on YoY basis 2021 Outlook 2 12M 2021 revenues and profitability are estimated to be higher than 12M 2020. Most segments are growing, however at a milder growth pace than 9M results 3 Group’s financial posi
Slide 19: 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) ▪ €143m 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) (178) (47
Slide 22: 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 23: Value Created to Investors
Value Created to Investors 16 2.900 Quest share value (€) Market Cap* 14 € 500m General Index 2.400 12 10 Aggregate Capital Return/ Dividends to the Shareholders 1.900 (2017-2021) ** 8 1.400 6 € 68m 4 900 2 RoE (=EBT/Total Equity) 400 0 2016 2017 2018 2019 2020 2021 30,0% 20,0% Free Float 21,1% 24,7
Slide 24: Resilience in challenging times
Resilience in challenging times Amounts in million € 800 Sales Market Cap 721 700 600 600 500 600 500 498 400 400 436 388 300 300 353 307 295 315 200 283 200 100 100 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
Slide 25: Growth Drivers
Growth Drivers Mobility & IoT E-Commerce International Markets Commercial Networks 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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