Presentation April 2017 Quest Group at a Glance More than ~ 390m ~ - - PowerPoint PPT Presentation

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Presentation April 2017 Quest Group at a Glance More than ~ 390m ~ - - PowerPoint PPT Presentation

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Presentation April 2017 Quest Group at a Glance More than ~ 390m ~ 166m 35 years successful track record Revenues Total Equity (est. in 1981) Diversified business operations applying Value creation track active management record

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SLIDE 1

Presentation

April 2017

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Quest Group at a Glance

~€390m

Revenues

~€166m

Total Equity

> 10

Countries International Presence

1.500

Group Workforce

Active in IT Products, IT Services, Courier/Post , Financial Transactions, Renewable Energy & Real Estate Value creation track record Diversified business

  • perations applying

active management principles More than 35 years successful track record (est. in 1981)

Value Creation Diversified Business Enabler

We use our technology expertise to optimize business operations

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Continuous Value Creation

50.000 100.000 150.000 200.000 250.000 300.000 350.000 400.000

2012 2013 2014 2015 2016

282.918 294.652 314.949 353.405 388.227

Revenues

Amounts in ,000 €

10.000 20.000 30.000 40.000

2012 2013 2014 2015 2016

9.515 12.143 19.861 21.237 31.792

EBITDA

Amounts in ,000 €

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Highlights 2016

Significant Organic Profitability Growth Quest Energy - Sale of two Photovoltaic Parks with significant C.Gains QE ~ €13m Improvement / Discontinued loss making activities (QONL - UNI TR.) Continued to invest in Greece under distressed macro conditions

  • Significant Capex investments (~€15m – Cardlink POS network >155k POS)

Impairments in real estate and non performing assets ~ €9m Financially Healthy Position

  • Significant improvement in debt position
  • Net cash Position / Positive Cash flow

Return of Shareholders Capital €6,4m Carve out of real estate activities - BRIQ Expansion of iStorm’s store footprint (2 new stores in Glyfada and Cyprus) New Corporate Governance model implemented

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P&L Results

Group P&L

(QH Consolidated - Amounts in ,000 €)

2016 % 2015

Sales 388.227

9,9%

353.405 EBITDA 31.792

49,7%

21.237

% EBITDA 8,1% 6,0%

EBT Adjusted* 17.406

79,3%

9.706

% Adjusted EBT 4,5% 2,8%

EBT 17.294

X 8

1.878 EAT 6.283

  • 837

EAT & Minority interests 2.399

  • 1.476

Capital Gains, Other(FX) 13.469 1.294 Provision for Cardlink’s Remaining Buyout Value

  • 4.926
  • Impairments (Real Estate - Financial Assets)
  • 8.655
  • 9.122

Adjustments*

  • 112
  • 7.828

Depreciation & Amortization 10.468

30,1%

8.047 CAPEX 14.691

  • 23,8%

19.286

* Adjustments regard Significant Extraordinary Results (Capital & FX gains, Non Cash Impairments of Real Estate Values, Impairments of Brand Name(UNI)

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Balance Sheet

Group BS

(QH Consolidated - Amounts in ,000 €)

2016 2015

Tangible & intangible assets 63.040 85.463 Goodwill 25.537 25.537 Other 28.457 31.338 Non-current assets 117.034 142.339 Inventories 17.080 18.177 Trade & other receivables 106.941 101.400 Cash and cash equivalents 65.931 53.311 Held for sale financial assets 27.796 24.775 Other 3.480 7.121 Current assets 221.228 204.784 Total assets 338.262 347.122 Total equity 165.956 167.835 Borrowings-Long Term 23.236 36.003 Other 16.496 14.446 Non-current liabilities 39.732 50.449 Borrowings-Short Term 22.837 38.396 Trade & other payables 101.385 82.427 Other 8.351 8.008 Current liabilities 132.573 128.838 Total Liabilities & total equity 338.262 347.122 Net Debt

  • 19.858*

21.088

* Includes ~€24m of Quest Energy

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Cash Flow

Group CF

(QH Consolidated - Amounts in ,000 €)

2016 2015

EBITDA 31.792 21.237 Depreciations / Amortizations

  • 10.467
  • 8.047

Financial costs / (income)

  • 3.918
  • 3.484

Capex (tangible assets)

  • 14.691
  • 19.286

FCF(ops) 13.183

  • 1.533

Receivables

  • 11.433
  • 13.958

Inventory 1.062

  • 4.730

Income Tax paid

  • 8.202
  • 8.161

Debt-Banks

  • 12.664

33.106 Capital Return

  • 6.445
  • Other Liabilities (Trade & other

payables) 19.724 10.892 Other 17.396 10.145 Total Cash Movements for the year

Operation

27.070 2.239

Investment

5.007

  • 9.578

Financial

  • 19.456

33.100 Total Change 12.621 25.761 Cash & Equivalent at beginning of year 53.311 27.549 Cash & Equivalent at end of year 65.932 53.311

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1% 44% 50 %

Segments Description*

IT Products (Wholesale/ Retail)

  • Largest distributor of

H/W and S/W products in Greece

  • Certified Greek partner
  • f major international

vendors

  • Own Brand assembler &

distributor

  • Apple’s Value Added

Distributor for Greece & Cyprus

  • 120 service centers for

Technical Support

  • Advanced e-commerce

platform

  • Personnel: ~345

Revenues (2016)

€190m

IT Services

  • #1 system integrator in

domestic market

  • 30+ countries of
  • perations
  • 600+ customers across

industries & geographies

  • 80% of revenues from

services

  • 50+ years in ICT business
  • 40+ years experience in

finance & telecoms

  • Personnel: ~650

consultants and technology professionals

Courier & Postal

  • Largest Local Courier

Operator in SE Europe

  • Leading Alternative

Postal Operator in Greece

  • 46m shipments/year

(courier & Post)

  • 500+ Service Points
  • 36 years experience
  • 30.000m2 facilities
  • Personnel: ~440

Financial Transactions

  • Leading POS network
  • perator in Greece
  • >155K POS
  • >50% market share
  • 175m transactions

annually

  • Serves all major banks
  • Personnel: ~55

Other

  • Owns & operates 3

photovoltaic parks of 0,7MW power

  • REIC with NAV of

€27,3m

  • Personnel: ~10

21% 23% 6% 0%

€81m €89m €11,7m €0,25m EBITDA (2016)

16% 14% 25 %

€4,2m €21m €0,3m €3,8m €6,7m

* Discontinued operations are not included

€381,5m

Total

€26,6m

% of Total % of Total

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2016

IT Products (Wholesale/ Retail) IT Services Courier & Postal Services Financial Trans- actions Other Total Discont. Operations* Grand total

Sales 189.637 81.261 89.091 21.229 295 381.512 6.715 388.227 EBITDA 4.207 3.789 11.697 6.698 251 26.643 5.149 31.792

% EBITDA 2,2% 4,7% 13,2% 31,6% 85,3% 7,0% 76,7% 8,2%

Adjusted EBT 2.387 2.559 10.741

  • 1.165

54 14.576 2.830 17.406

% Adjusted EBT 1,3% 3,2% 12,1%

  • 5,5%

18,2% 3,8% 42,1% 4,5%

EBT 2.137 377 10.786

  • 6.091
  • 4.541

2.667 14.627 17.294

2015

IT Products (Wholesale/ Retail) IT Services Courier & Postal Services Financial Trans- actions Other Total Discont. Operations* Grand total

Sales 183.243 69.364 80.414 13.090 352 346.463 6.942 353.405 EBITDA 4.284 1.792 6.959 2.293 401 15.728 5.509 21.237

% EBITDA 2,3% 2,6% 8,7% 17,5% 113% 4,5% 79,4% 6,0%

Adjusted EBT 2.479 250 6.020

  • 1.363
  • 562

6.824 2.883 9.707

% Adjusted EBT 1,4% 0,4% 7,5%

  • 10,4%
  • 159%

2,0% 41,5% 2,8%

EBT 2.198 1.189 6.011

  • 1.363
  • 9.039
  • 1.004

2.883 1.878

Segments Analysis

(Amounts in ,000 €)

* Discontinued operations regard mainly Quest Energy parks sold Dec 2016

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2016 Cont. Oper. Segments Analysis

2016

IT Products (Wholesale/ Retail) IT Services Courier & Postal Services Financial Trans- actions Other Total Continuing Operations

Sales 189.637 81.261 89.091 21.229 295 381.512

% / Total 49,7% 21,3% 23,4% 5,6% 0,1% 100,0%

EBITDA 4.207 3.789 11.697 6.698 251 26.643

% / Sales 2,2% 4,7% 13,1% 31,6% 85,2% 7,0% % / Total 15,8% 14,2% 43,9% 25,1% 0,9% 100,0%

Adjusted EBT 2.387 2.559 10.741

  • 1.165

54 14.576

% /Sales 1,3% 3,1% 12,1%

  • 5,5%

18,2% 3,8% % / Total 16,4% 17,6% 73,7%

  • 8,0%

0,4% 100,0%

Adjustments

  • 2511
  • 2.1821

45

  • 4.9262
  • 4.5953
  • 11.910

EBT 2.137 377 10.786

  • 6.091
  • 4.541

2.667

(Amounts in ,000 €) 1: Regards mainly non cash Real Estate Impairments 2: Future liability regarding Buyout Value 3: Regards mainly non cash Real Estate and minority participations Impairments

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Focus on Services & International Expansion

93% 7%

2013

86% 14%

2016

Greece International

+156%

133 141 156 184 162 173 198 204 50 100 150 200 250 2013 2014 2015 2016

Sales of Goods vs Services

Sales of services Sales of goods

+39%

€20,8m €53,2m

(Amounts in millions €)

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Outlook 2017

  • Focus on Retaining Profitability and Cost Optimization
  • Significant Growth and profit Turnaround of Qonline (You.gr)
  • Exploit Cooperation with Xiaomi / Expand Products line
  • Expand Istorm retail network

IT Products

  • Focus on Retaining – Improving Profitability
  • Focus on Growth in EU Services division
  • Lack of new Public Work projects – Focus on Cost Reduction in PW Division

IT Services

  • Focus on Retaining 2016 Profitability
  • Growth in Courier from E-commerce / Improve market share in Post
  • Invest in advanced Infrastructure (new automated sorting hub) to improve

capacity and better explore future E-commerce Growth

Courier & Post Services

  • Significant Growth both in POS & Transactions
  • Focus on Profit(EBT) Turnaround & Reduce fin leverage

Financial Transactions

  • Return in value of ~ €27m assets to Shareholders through BriQ / Q2-2017
  • QE – Explore opportunities for new PV parks with discounted valuations

Other

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Shareholding Structure

1998 : Listing in ATHEX

1 2 3 4 5 6 7 8 9 10 50.000 100.000 150.000 200.000 250.000 300.000

4/4/12 4/4/13 4/4/14 4/4/15 4/4/16 Volume Close

11.921.531

Total # of shares:

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Appendix

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IT Products Wholesale/Retail (1/4)

  • Largest distributor (by sales) of H/W and S/W

products in Greece

  • Certified Greek partner of the major international

vendors (HP, IBM, Dell, Microsoft, etc.)

  • Provides integrated value-added IT solutions (H/W)

to medium-sized companies through an extensive network of dealers throughout Greece

  • Own Brand assembler & distributor (Quest PCs and

Bitmore products)

  • National network of 120 service centers for

Technical Support

  • Bank Debt used only for W.Capital
  • Main areas of activity: Value Added Distribution,

Cloud Services

20.000 40.000 60.000 80.000 100.000 120.000

2012 2013 2014 2015 2016 99.623 104.680 119.898 112.304 108.889

SALES

Amounts in ,000 €

  • 1.500
  • 1.000
  • 500

500 1.000 1.500 2.000 2.500

2012 2013 2014 2015 2016

  • 1.028

1.817 2.275 2.283 1.647

EBITDA

Amounts in ,000 €

  • 2.000
  • 1.500
  • 1.000
  • 500

500 1.000 1.500

2012 2013 2014 2015 2016

  • 1.906

901 1.051 1.001 632

EBT

Amounts in ,000 € 100% Subsidiary

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IT Products Wholesale/Retail (2/4)

  • E-Shop
  • Focused in technology and FMCG products
  • Advanced e-commerce platform with Easy

Navigation & Search

  • 350 pick up points all over Greece for free

delivery (ACS points & U shops)

  • Advanced Call Center for orders & customer

support

  • Zero Bank Debt
  • Reliability at Competitive prices
  • 126.357 Orders @ ~€92,5 ΑΟV

5.000 10.000 15.000

2012 2013 2014 2015 2016 3.583 6.257 10.213 9.741 11.605

SALES

Amounts in ,000 €

  • 1.000
  • 800
  • 600
  • 400
  • 200

2012 2013 2014 2015 2016

  • 684
  • 854
  • 787
  • 699
  • 110

EBITDA

Amounts in ,000 €

  • 1.000
  • 800
  • 600
  • 400
  • 200

2012 2013 2014 2015 2016

  • 714
  • 929
  • 933
  • 790
  • 207

EBT

Amounts in ,000 € 100% Subsidiary

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IT Products Wholesale/Retail (3/4)

Apple’s Value Added Distributor for Greece &

Cyprus

  • Offers added value by creating Apps and S/W for

the Greek Apple ecosystem

  • Bank Debt used only for W.Capital
  • Increased sales by 50% during last 4 years.

10.000 20.000 30.000 40.000 50.000 60.000 70.000 80.000

2012 2013 2014 2015 2016 50.125 50.226 43.084 70.331 75.881

SALES

Amounts in ,000 €

500 1.000 1.500 2.000 2.500

2012 2013 2014 2015 2016 2.003 1.570 1.256 2.365 2.286

EBITDA

Amounts in ,000 €

500 1.000 1.500 2.000

2012 2013 2014 2015 2016 1.465 1.407 946 1.981 1.682

EBT

Amounts in ,000 € 100% Subsidiary

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IT Products Wholesale/Retail (4/4)

7 Apple Premium Reseller Stores

  • Athens (4)
  • Thessaloniki (2)
  • Cyprus (1)
  • Zero Bank Debt

2.000 4.000 6.000 8.000 10.000 12.000 14.000 16.000 2012 2013 2014 2015 2016 5.961 5.951 11.026 13.093 15.164

SALES

Amounts in ,000 €

  • 200
  • 100

100 200 300 400

2012 2013 2014 2015 2016

  • 117

17 152 335 384

EBITDA

Amounts in ,000 €

  • 300
  • 250
  • 200
  • 150
  • 100
  • 50

50

2012 2013 2014 2015 2016

  • 295
  • 275
  • 247

5 30

EBT

Amounts in ,000 € 100% Subsidiary

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IT Services

  • Among the top 5, IT companies in the Eastern

Mediterranean region

  • Strong industry vertical expertise supported by

horizontal solutions

  • 80% of revenue based on services
  • Wide Customer Basis, offering solutions to

financial, banking, telecom, public sector and EU Institution

  • Zero B.Debt
  • Uni Systems’ Data Center supports a full

portfolio of services (SaaS, PaaS, IaaS, and guarantees 99.99% availability.

  • Operating in Central Europe, Turkey and SEE
  • Major clients in more than 30 countries

20.000 40.000 60.000 80.000 100.000

2012 2013 2014 2015 2016

61.576 64.582 64.908 69.855 82.534

SALES

Amounts in ,000 € 1.000 2.000 3.000 4.000 5.000

2012 2013 2014 2015 2016

3.521 3.485 4.784 1.792 3.789

EBITDA

Amounts in ,000 € 500 1.000 1.500 2.000 2.500

2012 2013 2014 2015 2016

1.019 2.084 2.188 1.189 377

EBT

Amounts in ,000 €

Government & Local Authorities Banking & Finance Telecom Operators Enterprises & Utilities

Systems Integration Solutions & Services for Large Enterprises 100% Subsidiary

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Financial Transactions

  • Operates the largest network of POS

terminals for electronic payment transactions in Greece

  • In 2016, installed base of 155,000 terminals

processed in excess of 175M transactions corresponding to more that €11,5B of retail activity

  • Company was acquired by Quest

Holdings(85%) in January 2015

  • Standalone POS terminals for banks and

merchants

  • Payment gateway for electronic commerce

transactions

  • Highly leveraged with ~€31m Bank Debt
  • Driving & switching of transactions on behalf
  • f Bank’s

5.000 10.000 15.000 20.000 25.000

2015 2016 13.090 21.295

SALES

Amounts in ,000 €

2.000 4.000 6.000 8.000

2015 2016 2.293 6.698

EBITDA

Amounts in ,000 €

  • 7.000
  • 6.000
  • 5.000
  • 4.000
  • 3.000
  • 2.000
  • 1.000

2015 2016

  • 1.363
  • 6.091

EBT

Amounts in ,000 €

85% Subsidiary

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Courier & Postal Services

  • The largest private Greek courier company with

the widest PoP network throughout Greece

  • Leading Alternative Post Operator
  • Workforce of 3,000 specialized personnel &

associate workers

  • More than 30.000 m2 warehouse space & >500

PoP in Greece, Albania and Bulgaria.

  • Handling over 46m shipments per year/ more

than 70 daily combined transportation routes

  • Financially very Healthy - Zero Bank Debt
  • Cooperates with international courier companies

(TNT, DHL, GLS, DPD) for delivery in Greece and for shipments to 200 countries around the world

20.000 40.000 60.000 80.000 100.000

2012 2013 2014 2015 2016

70.975 73.076 82.304 81.159 89.993

SALES

Amounts in ,000 €

2.000 4.000 6.000 8.000 10.000 12.000

2012 2013 2014 2015 2016

3.061 3.454 7.244 6.959 11.652

EBITDA

Amounts in ,000 €

2.000 4.000 6.000 8.000 10.000 12.000

2012 2013 2014 2015 2016

2.949 3.054 6.707 6.011 10.754

EBT

Amounts in ,000 €

100% Subsidiary

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Real Estate (REIC) (other)

  • BriQ Properties R.E.I.C. was founded on

21.10.2016

  • Quest Holdings S.A. and its subsidiary

Unisystems S.A., contributed to “BriQ Properties R.E.I.C.” 7 properties and cash totaling an amount of € 27.7m

  • “BriQ Properties R.E.I.C.” is expected to get

listed in the Greek stock Exchange as an independent company during H1 2017

  • Each QH shareholder is expected to obtain as

a return in kind one BriQ Share.

  • Zero Bank Debt
  • ΝΑV (31.12.2016)

€27,3m

  • Revenues on a yearly basis ~ €1,9m.

For the period: 21 Oct. to 31 Dec 2016

*In 2016 included amount €-568 impairment in investment property

€ 392k

Revenues

€ (408)k

EBT

€161k

EBITDA

100% Subsidiary

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Renewable Energy (other)

  • During 2016, Quest Energy SA divested the

sale of its subsidiaries, Quest Solar & env.

  • Tech. SA and Quest Solar Almirou SA under

which two photovoltaic power plants of 17.5 MW as well as a licenced park under development Anemopili.

  • The Sales amount for Quest Energy for the

Above reached €29m, while the profit before taxes, amounted €13m.

  • The company has returned during

October2016- March2017 €21m of which ~€11,7(55%) to QH.

  • Remaining installed base ~0,6MW with

annualized sales of ~€300Κ.

  • Zero Bank Debt.
  • Seeking of new PV investments with

discount vs above sales.

2.000 4.000 6.000 8.000

2012 2013 2014 2015 2016 5.113 6.102 5.734 7.433 7.208

SALES

Amounts in ,000 €

1.000 2.000 3.000 4.000 5.000 6.000

2012 2013 2014 2015 2016

2.293 2.054 3.834 5.423 5.352

EBITDA

Amounts in ,000 €

  • 5.000

5.000 10.000 15.000 20.000 2012 2013 2014 2015 2016

  • 141
  • 1.214
  • 1.964

1.762 15.485

EBT

Amounts in ,000 € 55% Subsidiary

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QH Parent (other)

  • Parent Holding Company (listed is ASE)
  • Equity of €126m
  • Minor sales ops from Rentals ~€0,25m
  • Financially healthy - Zero Bank Debt
  • Lean Corporate structure
  • Seeking for new investments in areas of

interest or areas with higher margin

  • 2.000

4.000 6.000 8.000

2012 2013 2014 2015 2016 4.158 3.347 6.689 4.537 6.467

SALES

Amounts in ,000 €

1.000 2.000 3.000 4.000 5.000

2012 2013 2014 2015 2016 506 598 4.129 1.650 3.896

EBITDA

Amounts in ,000 €

  • 4.000
  • 3.000
  • 2.000
  • 1.000

1.000 2.000 3.000

2012 2013 2014 2015 2016 (433) (727) 2.447 (3.908) (1.575)

EBT

Amounts in ,000 €

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Consolidation adjustments & other

(35.000) (30.000) (25.000) (20.000) (15.000) (10.000) (5.000)

  • 2012

2013 2014 2015 2016 (18.195)(19.568) (28.905)(28.139) (31.201)

SALES

(4.000) (3.000) (2.000) (1.000)

  • 1.000

2012 2013 2014 2015 2016

(41) 2 (3.027) (1.077) (3.963)

EBITDA

Amounts in ,000 €

  • 10.000
  • 5.000

2012 2013 2014 2015 2016

(622) (3.827) (6.606) (4.010) (3.384)

EBT

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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 number of risks, uncertainties and other important

factors, such as but not limited to:

  • Competitive pressures
  • Legislative and regulatory developments
  • Global and local macroeconomic and political trends
  • Fluctuations in currency exchange rates and general financial market conditions
  • Delay or inability in obtaining approvals from authorities
  • Technical development
  • Litigation
  • Adverse publicity and news coverage, which would cause actual development and results

to differ materially from the statements made in this document

  • Quest Holdings assumes no obligation to update or alter such statements whether as a

result of new information, future events or otherwise.

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THANK YOU !