The Quest Group’s 2022 investment plan envisages investments of 60 million euros

By Fotis Fotinos

In the investment plan of the Quest Group for 2022, but also in the course of the individual activities, the Chief Executive Officer Apostolos Georgantzis and the Deputy Chief Executive Officer Markos Bitsakos referred to yesterday’s briefing of the analysts on the results of the first quarter.

In particular, the Quest Group is focused on investments of 60 million euros in 4 axes and in particular, up to 30 million in “Dimitriou SA” (capital increase, lending, company restructuring), up to 20 million in ACS for the completion of the new sorting center , 6 million in the energy sector and 4 million in the logistics center of Aspropyrgos.

Regarding the forecasts for the results of the financial year 2022, the CEO of the Group appeared moderately optimistic, predicting a slight increase in revenues and maintaining almost the same levels or a slight decrease in profitability.

Quest Group, in 2021, recorded on a consolidated basis sales of 947.9 million, EBITDA 75.6 million and pre-tax profits of 136.1 million.

However, excluding Cardlink, which was sold on 9/30/2021, consolidated sales from continuing operations amounted to 915.9 million, EBITDA to 64 million and pre-tax profit to 51.3 million.

Estimates for commercial activities, IT, energy and couriers

As pointed out yesterday by the Group’s top executives, the rise in energy and transport costs has a different effect on the areas of activity.

The energy and IT sectors continue to move positively, while couriers and commercial activities are under “pressure”, if not in all sub-categories.

By industry:

-Commercial Activity (Info Quest Technologies, iSquare, Quest on Line, iStorm, Clima Quest, FoQus)

In the first quarter there was a double-digit increase in sales (21.9%), while pre-tax profits also increased by double-digit percentage (14.3%) compared to the first quarter of 2021. The strongest increase was observed in product sales Apple, on the other hand, lagged behind in e-commerce, mainly in March, which continued in April, compared to the same period last year, when – at intervals – physical stores were closed.

In this area, the Group’s senior executives expressed reservations about the course of consumption and the economy in the coming months.

-Information Services (Uni Systems Intelli Solutions, Team Candi)

During the first quarter, there was a double-digit increase in sales (13.1%) and a double-digit increase in pre-tax profits (74%), as profit margins continued to improve and Intelli Solutions’ profits were incorporated (approximately 1 million).

The demand for IT services, as underlined, is increasing due to the plethora of digital transformation projects in the public and private sectors.

-Postal Services (ACS Courier)

In the first quarter of 2022 there was a slight decline in sales (3.7%) of ACS, which was accompanied by stagnation in pre-tax profits (-0.7%).

The stagnation, as underlined, is mainly due to the fall of e-commerce in 2022, as during the corresponding period last year there was a lockdown that significantly increased parcel shipments.

In addition, this year’s transport costs have widened due to rising fuel prices.

As pointed out by the top executives of Quest, ACS is aware – however – of a smaller decrease in revenue compared to the market average, while at the same time it has proceeded to price adjustments.

-Production of Energy from Renewable Sources (Quest Energy)

During the first quarter, the company’s sales were up 8%, as well as profits before taxes of 17%, due to the addition of 2 MW parks and relatively reduced interest rates on loans. In this area, the outlook remains positive.