Quest Group reports strong growth: Q1 sales up by 11.4%

Quest Group reported, for the 3M of 2026, consolidated sales of €365,5 million, EBITDA of €22,1 million, earnings before taxes (EBT) of €15,2 million and earnings after taxes (EAT) of €11,4 million.  

Compared to the corresponding period in 2025, sales increased by 11.4%, operating profitability (EBITDA) by 4.3%, earnings before tax (EBT) by 10%, and net earnings after tax (EAT) by 14.3%.

The main consolidated financial results & key figures are presented below : 

 * Do not include “other gain/losses” related to investment activity.

On December 23, 2025, the subsidiary “Quest Energy S.A.” completed the disposal of the majority of its photovoltaic power plants, with a total installed capacity of 36,7 MW, for total consideration of €36 million (net of debt). Following the completion of this transaction, the Group presents its financial results separately distinguishing between continuing and discontinued operations in accordance with applicable accounting standards. Discontinued operations relate to the activities of the disposed subsidiaries of Quest Energy S.A.

The Group’s net debt position (defined as borrowings less cash and cash equivalents) amounted to a net cash position of €65,2 million , compared to net cash of €107,6 million as of 31/12/2025. The change is attributable to increased working capital requirements — as is the case every year during the corresponding period — as well as to the recent investment of approximately €24 million for the acquisition of an approximately 10% stake in the share capital of the listed company Fourlis Holdings S.A.

3Μ2026 Results per segment:

• Commercial Activity (Info Quest Technologies, Quest on Line, iSquare, iStorm, Clima Quest,GED, FoQus, Epafos, Benrubi).

During 3Μ 2026, sales increased by 8,7%, while earnings before taxes (EBT) increased by 8,5% compared to the same period in 2025. This increase is attributable to the stronger performance across most business activities.

• IT Services (Uni Systems, Intelli Solutions, Team Candi).

Sales augmented by 23,4%, and EBT by 21,9%. Demand for IT services remains strong, driven by the high number of digital transformation projects of the private and public sector. Roughly 50% of sales derive from international activities.

• Postal Services (ACS Courier).

Sales increased by 11,8%, accompanied by a similar increase in EBT by 11,7%, driven by improved company productivity. The company’s growth is estimated to exceed the growth rate of the domestic e-commerce market and is attributable to the expansion of its customer base and the improvement in its productivity.

• Renewable Energy Production (Quest Energy).

The results for the period are not comparable to those of the previous year, as the majority of the revenues and profitability in 2025 related to discontinued operations.

Quest Holdings (parent company).

The parent company’s revenue amounted to €434k compared to €442k in 2025. Earnings before tax (EBT) amounted to €-4k, compared to €46k in the corresponding period last year.

As already announced, the Company’s Board of Directors, at its meeting held on 06/04/2026, resolved to propose to the upcoming General Meeting of Shareholders, scheduled for 10 June 2026, the distribution of a dividend of €0.40 (gross) per share.

2026 Outlook

The following outlook is estimated per segment:

• Commercial Activity: Sales are estimated to increase modestly compared to 2025. EBT is anticipated to remain at similar levels.

• IT Services: Double digit growth in both sales and profitability is estimated vs 2025.  Growth is expected to originate from both Greece and international markets, while the backlog (contracted projects to be executed) exceeds €650 m.

• Postal Services: Improved revenue growth is estimated, higher than 2025 levels, followed by a corresponding improvement in profitability year over year.

• Renewable Energy Production: The results of the activity will be significantly lower, impacted by the sale of the 36,7MW power plants. Sales are expected to exceed €1 million, with EBITDA and EBT margins of approximately 50% and 15% of sales, respectively.

Overall, for the full year 2026, initial estimates indicate modest sales growth, while EBITDA and EBT are expected to land at similar levels compared to 2025, due to the sale of the majority of the energy segment. In continuing operations, modest growth in both sales and profitability is estimated. The above estimates for 2026 are based on the assumption that there will be no prolonged adverse developments in energy prices, basic goods, and consumption, as a result of the war in the Middle East. The Group's solid financial position and strong commercial standing enable it to effectively address any challenges that may arise and seize any opportunities that may emerge.

Quest Group’s management will host a conference call to present and discuss the 3M.2026 Financial Results, on Thursday 21^st of May 2026, at 15:30 Athens (EET) time.

• GR participants dial in:   + 30 213 009 6000 or + 30 210 946 0800
• UK participants dial in:   + 44 203 059 5872
• US Participants dial in:    +1 516 447 5632  

The conference call will be available via webcast in real time over the Internet and you may join by linking at the internet site: Webcast Link