The company "Quest Holdings SA" announces the financial results of 2016, in accordance with the International Financial Reporting Standards.
• Consolidated Financial Results:
Group earnings before tax in 2016 were affected by asset impairment losses of € 8.7 million, provision for the possible payment of an additional purchase price of Cardlink's subsidiary of € 5 million and sales of subsidiaries and associates of € 13.4 million. The corresponding impairment for the prior year amounted to € 9.1 million.
Investments in fixed assets (Capex) for 2016 amounted to € 14,691 thousand compared to € 19,286 thousand in 2015.
• Quest Holdings Financial Results:
For all (Continued and Discontinued) activities, revenue amounted to € 6,467 thousand compared to € 4,537 thousand in 2015. EBITDA amounted to € 3,896 thousand compared to € 1,650 thousand in 2015. Earnings before tax amounted to € 1.575 thousand against losses of € 3.908 thousand last year. Losses after tax amounted to € 1,823 thousand against losses of € 2,928 thousand in 2015. The results of the company have been affected by dividend income of € 3.765 thousand (2015: € 1,498 thousand) and impairment losses of € 5,557 thousand (2015: € 5.136 thousand).
• Financial Results of affiliated companies:
DIGITAL TECHNOLOGY
Info Quest Technologies
Sales amounted to € 108.9 million compared to € 112.3 million in 2015, down 3%. EBITDA amounted to € 1,647 thousand versus € 2,283 thousand, earnings before tax amounted to € 632 thousand versus € 1,001 thousand and earnings after tax amounted to € 254 thousand compared to € 380 thousand in 2015.
Quest on Line (you.gr)
Sales amounted to € 11.6 million against € 9.7 million in 2015, up 19.6%. EBITDA amounted to € 110 thousand against losses of € 699 thousand, pre-tax losses amounted to € 207 thousand compared to € 790 thousand and losses after tax amounted to € 205 thousand compared to € 788 thousand in 2015.
iSquare
Sales amounted to € 75.9 million compared to € 70.3 million in 2015 recording an increase of 8%. EBITDA amounted to € 2,286 thousand compared to € 2,365 thousand in 2015, earnings before tax amounted to € 1,682 thousand versus € 1,981 thousand and earnings after tax amounted to € 1,022 thousand versus € 1,301 thousand last year.
iStorm & iStorm Cyprus
Sales amounted to € 15.2 million compared to € 13.1 million in 2015 recording an increase of 16%. EBITDA amounted to € 384 thousand against € 335 thousand, earnings before tax amounted to € 30 thousand against earnings of € 5 thousand in 2015 and earnings after tax amounted to € 23 thousand against earnings of € 5 thousand in 2015.
UniSystems Group
Sales amounted to € 82.5 million compared to € 69.9 million in 2015 recording an increase of 18%. EBITDA amounted to € 3,789 thousand against € 1,792 thousand, earnings before tax at € 377 thousand compared to € 1,189 thousand in 2015 and post-tax losses to € 1,647 thousand against profits of € 569 thousand in 2015. It is noted that the company's financial results for 2016 were subject to impairment of assets of € 2,182 thousand while the corresponding impairment for 2015 was € 595 thousand.
COURIER SERVICES
ACS Courier
Sales amounted to € 90 million compared to € 81.2 million in 2015 recording an increase of 10.8%. EBITDA amounted to € 11,652 thousand versus € 6,959 thousand, earnings before taxes amounted to € 10,754 thousand versus € 6,011 thousand, while earnings after tax amounted to € 7,779 thousand against € 3,792 thousand in 2015.
ELECTRONIC TRANSACTIONS PROCESSING
Cardlink
The results of the 85% subsidiary Cardlink, acquired in January 2015 and active in POS terminal network services for online payments with payment cards, are as follows:
Sales amounted to € 21.3 million compared to € 13.1 million in the previous year, recording an increase of 63%. EBITDA amounted to € 6,698 thousand compared to € 2,293 thousand, before tax losses amounted to € 6,091 thousand compared to € 1,363 thousand, while losses after tax amounted to € 5,960 thousand compared to € 917 thousand in 2015. The financial results of the company were charged to the amount of € 4,926 thousand relating to the recognition of a possible future consideration for the acquisition.
GREEN ENERGY:
Quest Energy Group
Quest Energy is a 55% stake in Quest Holdings and has as its object the production of electricity from renewable sources. Within 2016, Quest Energy sold its subsidiaries Quest Solar SA and Quest Solar Almyros SA, which owned 7,5 MW and 10 MW photovoltaic parks respectively. It also proceeded with the sale and transfer of its stake in the share capital of Anemopili SA in which it was a 50% shareholder.
The overall results of the sector (continuing and discontinued operations) are as follows:
Sales amounted to € 7.2 million versus € 7.4 million in 2015. EBITDA amounted to € 5,352 thousand compared to € 5,423 thousand, earnings before tax amounted to € 15,485 thousand compared to € 1,762 thousand, while earnings after tax amounted to € 10,624 thousand against € 912 thousand in 2015.
It is noted that profits before tax include profits from the sale of the associated company "Anemopili SA" and profit from the sale of Quest Solar SA and Quest Solar Almyros SA totaling € 13.2 million.
REAL ESTATE MANAGEMENT SECTOR:
BriQ Properties
The results of the newly established subsidiary BriQ Properties SA which was established after the real estate and cash contribution of Quest Holdings SA and Unisystems SA are as follows:
Sales amounted to € 392 thousand. EBITDA amounted to € 161 thousand, before tax losses amounted to € 408 thousand, while losses after tax amounted to € 449 thousand. The company's financial results were burdened with impairment provisions of € 568 thousand.
