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"Quest Holdings SA" announces the financial results for the first quarter of 2017, in accordance with the International Financial Reporting Standards.

 

• Consolidated Financial Results:

Fixed investment (Capex) for the first quarter of 2017 amounted to € 2,192 thousand compared to € 4,188 thousand in the same period last year.

 

• Quest Holdings Financial Results:

For all (Continuing and Discontinued) activities, revenue amounted to € 291 thousand compared to € 756 thousand in the corresponding period of 2016. EBITDA amounted to € 280 thousand compared to € 54 thousand in 2016. Earnings before tax amounted to € 269 thousand compared to € 84 thousand last year. Profit after tax was € 197 thousand against losses of € 21 thousand in the same period last year.

 

• Financial Results of affiliated companies:

DIGITAL TECHNOLOGY

Info Quest Technologies

Sales amounted to € 26.6 million compared to € 25.6 million in the corresponding period of 2016, up 3.9%. EBITDA amounted to € 433 thousand against earnings of € 305 thousand, earnings before taxes amounted to € 106 thousand versus € 33 thousand and profits after taxes amounted to € 66 thousand compared to € 19 thousand in the same period last year.

Quest on Line (you.gr)

Sales amounted to € 3.4 million compared to € 2.4 million in the corresponding period of 2016, up 42%. EBITDA amounted to € 58 thousand against losses of € 84 thousand, earnings before tax amounted to € 32 thousand against losses of € 105 thousand and earnings after tax amounted to € 32 thousand against losses of € 105 thousand in the same period last year.

 

iSquare

Sales amounted to € 16.3 million compared to € 16.2 million in the corresponding period of 2016. EBITDA amounted to € 484 thousand compared to € 553 thousand in 2016, earnings before tax amounted to € 420 thousand versus € 449 thousand and earnings after tax to € 295 thousand compared to € 323 thousand in the same period last year.

 

iStorm & iStorm Cyprus

Sales amounted to € 3.8 million compared to € 3 million in the corresponding period of 2016, recording an increase of 26.7%. EBITDA amounted to € 89 thousand compared to € 62 thousand, pre-tax losses amounted to € 15 thousand against losses of € 18 thousand in 2016, and losses after taxes amounted to € 21 thousand against losses of € 18 thousand in the same period last year.

 

UniSystems Group

Sales amounted to € 23.3 million compared to € 19 million in the corresponding period of 2016, recording an increase of 22.6%. EBITDA amounted to € 812 thousand against € 1,030 thousand, earnings before tax to € 467 thousand compared to € 703 thousand in 2016 and earnings after tax amounted to € 273 thousand against profits of € 428 thousand in the same period last year.

COURIER SERVICES

ACS Courier

Sales amounted to € 23.2 million compared to € 19.5 million in the corresponding period, recording an increase of 18%. EBITDA amounted to € 2,096 thousand against earnings of € 1,507 thousand, earnings before taxes amounted to € 1,862 thousand versus € 1,334 thousand and profits after taxes amounted to € 1,324 thousand compared to € 958 thousand in the same period last year.

ELECTRONIC TRANSACTIONS PROCESSING

Cardlink

The results of the 85% subsidiary "Cardlink", which is active in POS terminal network services for electronic payments with payment cards, are as follows:

Sales amounted to € 6 million compared to € 4,4 million in the corresponding period of 2016, marking an increase of 34%. EBITDA amounted to € 2,526 thousand compared to € 886 thousand, earnings before tax amounted to € 261 thousand against losses of € 811 thousand, while earnings after tax amounted to € 178 thousand against losses of € 486 thousand in the same period last year.

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, so the financial results of the activity are not comparable to the corresponding period of the previous year.

The overall results of the sector (continuing and discontinued operations) are as follows:

Sales amounted to € 0.06 million compared to € 1.5 million in 2016. EBITDA amounted to € 74 thousand against earnings of € 1,074 thousand, pre-tax losses amounted to € 83 thousand compared to profits of € 315 thousand, while losses after tax amounted to € 91 thousand against earnings of € 117 thousand in the corresponding period of 2016.

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 for the first quarter of 2017 amounted to € 470 thousand. EBITDA amounted to € 299 thousand, earnings before taxes amounted to € 297 thousand while earnings after taxes amounted to € 262 thousand.

Note:

The Group uses alternative performance measurement indicators (APMs) to better assess its financial performance. This press release shows the earnings before tax, financial, investment results and total depreciation (EBITDA), which is analyzed below. This amount should be taken into account in conjunction with the financial results prepared under IFRSs and in no way replaces them.

The financial statements for Q1 2017 of Quest Holdings will be posted on the Athens Stock Exchange website (www.helex.gr) and the corporate website (www.Quest.gr) on Friday 2 June 2017.

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