Quest Holdings Sa · ATHEX:QUEST
Quest Holdings Sa — FY2022 Earnings Presentation
33 slides from Quest Holdings Sa's earnings presentation, 2023
Slide 1: Corporate IR Presentation
Corporate IR Presentation Based on 12M 2022 Financial Results
Slide 2: 12M 2022 Results
01.12M 2022Results Overview Financial Performance Outlook 2
Slide 3: Quest Group at a Glance (12M 2022)
Quest Group at a Glance (12M 2022) ▪ €1.032m Revenues 30 Countries 42 years 2.599 ▪ €72m EBITDA International Activity (est. in 1981) Headcount ▪ €55m EBT ( ~24% of revenue) ▪ €239m Equity Active in : Revenues Track Record 2018 -2022 ▪ Commercial Activities1 € 704m ▪ Revenue CAGR 20% ▪ IT Services €
Slide 4: 12M 2022 Highlights
Quest Group 1 Sales > €1bill with growth in all segments /Significant Growth investments of ~ €47m 12M 2022 Highlights 2 Sales +12,7% / Ebitda +12,4% / EBT +6,6% (Continued Operations) 3 High demand in IT services & significant future expectations / Apple sales surge Νew Logistic Center for Commerci
Slide 5: P&L (12M 2022)
P&L (12M 2022) Amounts in ,000 € 12M 2022 YoY % YoY % 12M 2021 Explanations/Clarifications: Continued Discontinued Cont. Continued Discontinued Total Operat. Total Total Operations operations Operations operations ▪ Sales growth was primarily driven by Commercial Activities division which Sales 1.03
Slide 6: P&L (12M 2022) EBITDA, Sales, EBT
P&L (12M 2022) Amounts in ,000 € EBITDA 80.000 8,9% 10,0% 8,3% 8,0% 7,0% 6,8% 8,0% 60.000 2022 VS 2018 6,0% SALES 40.000 75.562 71.997 +112% 1.200.000 59.858 4,0% 4years CAGR 53.393 1.000.000 20.000 33.901 2,0% +21% 2022 VS 2018 800.000 - 0,0% 2018 2019 2020 2021 2022 +107% 600.000 4years CAGR 947.8
Slide 7: Balance sheet (12M 2022)
Balance sheet (12M 2022) Amounts in ,000 € Group Balance Sheet 12M 2022 12M 2021 Tangible & intangible assets 134.065 110.354 Right-of-use assets 24.409 18.669 Goodwill 36.351 19.350 Other 32.702 26.865 Inventories Non-current assets 227.527 77.236 175.238 56.618 €691m €239m Trade & other receivable
Slide 8: Cash Flow (12M 2022)
Cash Flow (12M 2022) Amounts in ,000 € Group Cash Flow 12M 2022 12M 2021 EBT 54.892 136.146 Depreciation/Amortization 11.753 13.958 Interests Expense / (income) 6.491 5.660 WoC (Change in Inventories, Receivables, Payables) (9.608) (43.557) Tax paid (9.629) (17.116) Other operating activities (8.644
Slide 9: Quarterly results
Quarterly results Amounts in ,000 € Q1 2022 YoY % Q1 2021 Q2 2022 YoY % Q2 2021 Q3 2022 YoY % Q3 2021 Q4 2022 YoY % Q4 2021 12M 2022 YoY % 12M 2021 Sales 238.084 10,2% 216.018 240.699 4,0% 231.434 260.847 17,6% 221.833 292.238 4,9% 278.598 1.031.867 8,9% 947.882 EBITDA 16.878 -8,1% 18.368 17.632 -15
Slide 10: Quarterly results (Continued operations)
Quarterly results (Continued operations) Amounts in ,000 € Explanations/Clarifications: Q1 2022 YoY % Q1 2021 Q2 2022 YoY % Q2 2021 Q3 2022 YoY % Q3 2021 Q4 2022 YoY % Q4 2021 12M 2022 YoY % 12M 2021 Sales 238.057 16,1% 205.028 240.699 8,7% 221.521 260.847 23,7% 210.787 292.238 4,9% 278.598 1.031.84
Slide 11: Commercial Activities Segment
Commercial Activities Segment* Info/Overview 12M Financial Results ▪ Largest distributor of H/W and S/W products in Greece ▪ €704m revenue in 2022 Amount in ,000€ 12M 2022 YoY % 12M 2021 ▪ 40%+ of ICT distribution Market in Greece Sales 704.051 14% 618.494 ▪ 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% M. Share Amount in ,000€ 12M 2022 YoY % 12M 2021 ▪ €176m revenue in 2022 Sales 175.867 15% 152.990 ▪ 30+ countries of operations EBITDA 16.123 29% 12.504 ▪ ~50% International revenues % sales 9,2
Slide 13: Courier & Postal Segment
Courier & Postal Segment Info/Overview 12M Financial Results ▪ Largest Local Courier operator in Greece (~ 24% Μ. Share ) Amount in ,000€ 12M 2022 YoY % 12M 2021 ▪ €142m revenue in 2022 Sales 141.762 5% 135.104 ▪ Leading Alternative Postal Operator in Greece (~6% Μ. Share) EBITDA 22.589 6% 21.360 ▪
Slide 14: Renewable Energy Segment & Other
Renewable Energy Segment & Other Info/Overview 12M Financial Results ▪ €10,2m revenues for Quest Energy during 2022 due to Amount in ,000€ 12M 2022 YoY % 12M 2021 new investments Sales 10.160 9% 9.346 ▪ Quest Energy owns 24 photovoltaic parks with > 34MW EBITDA 7.579 4% 7.301 power % sales 74,6% 78,
Slide 15: Segment Contribution in Sales & Ebitda (12M 2022)
Segment Contribution in Sales & Ebitda (12M 2022) Amounts in ,000 € Commercial Courier & Electronic IT Services Energy & Other Payments Total Group Activities Postal Discontinued Operations 704.051 175.867 141.762 10.160 27 17,0% 13,7% 1,0% 0,0% Sales 1.031.867 68,2% 25.738 16.123 22.589 7.579 -32 1
Slide 16: Segment Analysis 12M 2022
Segment Analysis 12M 2022 Amounts in ,000 € Discontinued 12M 2022 (€ x 1.000) Commercial Activities ΙΤ Services Courier & Postal Renewable Energy Unallocated Continued operations Total operations Total gross segment sales 829.944 176.959 142.825 10.523 409 1.160.661 27 1.160.688 Inter-segment sales
Slide 17: Segment Outlook
Segment Outlook IT Services Commercial Activities ▪ Sales and profits are estimated to continue to grow ▪ Initial outlook estimation for 2023 includes a mild during 2023, driven by accelerated investments on growth in sales and similar profitability vs 2022. digital transformation by the private and
Slide 18: 2023 Outlook
Group Outlook 1 2023 growth in sales and profitability similar to 2022. 2023 Outlook 2 Strong financial position (~€200m cash and credit lines). 3 Actively looking new growth investments (new solar parks, other M&A’s). 4 2023 Growth capex/new investments to surpass €30m. 18
Slide 19: 02. Appendix
02. Appendix Other Corporate info More Financial Data 19
Slide 20: 2022 Achievements
2022 Achievements APPLE GROUP Sales ECOSYSTEM UNISYSTEMS HEADCOUNT FTSE INDEX Surpassed the Apple ecosystem UniSystems Total Quest Group Quest Holdings exceeded surpasses the workforce stock included on €1 billion exceeded the FTSE/ASE €170m barrier in LARGE CAP (FTSE) €340m in Revenues 2,500 people
Slide 21: Sailing Through Storms
Sailing Through Storms 2022 2019 to 2021 ▪ Covid 19 ▪ Ukraine War ▪ Energy Crisis 2010 to 2019 ▪ Supply Chain Turbulences ▪ Covid 19 Pandemic Crisis ▪ Severe Financial Crisis Sales > 3,5X ▪ Greek Sovereign Debt 1.031.867 947.882 721.359 600.319 497.680 436.449 353.405 388.227 282.918 294.652 314.949
Slide 22: Investments in Infrastructure
Investments in Infrastructure ASPROPYRGOS EGALEO ▪ New warehouse of IQT, in leased ▪ New state of the art in terms of automation facilities, completed in Aspropyrgos parcel sorting center of ACS ▪ 25,000 sqm of usable area with a capacity of >25,000 pallets ▪ Building with a total area of >31.000 m2
Slide 23: Strengthening of Group Structure
Strengthening of Group Structure Corporate Governance ESG ▪ The group's corporate governance was further On ESG topics: strengthened : ▪ Participation in the ESG Rating of Ecovadis. ▪ New Compliance Department ▪ ESG Rating by ISS in Environment & Social. ▪ New Corporate Governance team ▪ Quest Holdi
Slide 24: Dividends to Shareholders & Support of Low-Paid Staff
Dividends to Shareholders & Support of Low-Paid Staff ▪ Quest Holdings total dividends of ~€61m in two tranches. ▪ In 2022, Quest Group decided to distribute one-off extra allowance to 1,300 employees with gross monthly salaries of up to €2,000, to all its subsidiaries, totaling €2,8m. 24
Slide 25: 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 26: Resilience in challenging times
Resilience in challenging times Amounts in million € 1200 Sales Market Cap 800 1000 1032 700 948 600 800 500 721 600 400 600 400 498 300 436 353 388 200 295 315 200 100 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 EBITDA 180 Capital Return 80 158 160 70 76 61 72
Slide 27: Value Created to Investors
Value Created to Investors 7 2900 Quest share value (€) Market Cap* 6 € 505m 2400 General Index 5 1900 4 Aggregate Capital Return/ Dividends to the Shareholders (2018-2022) ** 3 1400 € 97m 900 2 1 400 0 2017 2018 2019 2020 2021 2022 RoE (=EBT/Total Equity) 60,0% Free Float 40,0% 24,73% Theodoros 52,
Slide 28: Growth Drivers
Growth Drivers Mobility Cloud & IoT E-Commerce International Markets Commercial Networks Renewable Energy Clima M&A Inorganic Growth 28
Slide 29: 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 30: 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 31: 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 32: 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 33: 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