Quest Holdings reports 25.2% increase in net profit

More specifically, consolidated sales reached €750 million, up 9.8% compared with the corresponding period of 2025. EBITDA stood at €52.9 million, marking an 11.2% increase, while profit before tax amounted to €39.2 million, up 19.2%.

Profit after tax amounted to €28 million, an increase of 25.2%, while profit after tax attributable to the Group, after minority interests, reached €25.5 million.

The comparison between 2026 and 2025 results is affected by the sale, on 23 December 2025, of most of Quest Energy’s photovoltaic plants, with a total installed capacity of 36.7 MW, for €36 million after the deduction of net debt. As a result, the comparative 2025 figures are presented on the basis of continuing and discontinued operations.

Commercial Activity Strengthens

The Group’s Commercial Activity, which includes, among others, Info Quest Technologies, Quest on Line, iSquare, iStorm, Clima Quest, GED, FoQus, Epafo and Benrubi, recorded a 7.8% increase in sales. Profit before tax rose by 15.4%, with the increase attributed to improved performance across most individual activities.

Double-Digit Growth in IT Services

The Information Technology Services segment, comprising Uni Systems, Intelli Solutions and Team Candi, delivered particularly strong performance. Sales increased by 21.1%, while profit before tax rose by 32.9%.

Demand for IT services remains strong, as digital transformation projects continue across both the public and private sectors, in Greece and abroad. Approximately 50% of the segment’s revenue is now generated from activities outside Greece.

ACS: Revenue and Profitability Increase

In Postal Services, whose core activity is ACS Courier, sales increased by 8.4%, while profit before tax rose by 13.4%. Growth was attributed to the expansion of the customer base and improved productivity, supported by the company’s ongoing investments in infrastructure and automation.

By contrast, the results of the renewable energy generation business are not directly comparable with 2025, as most of last year’s revenue and profitability came from activities that were discontinued following the sale of the photovoltaic plants.

Quest Holdings: Sharp Increase in Parent Company Revenue

At parent-company level, Quest Holdings reported revenue of €33.6 million, compared with €11.9 million in the first half of 2025. Profit before tax amounted to €34.2 million, versus €11.5 million a year earlier.

The Group’s net debt position, defined as borrowings less cash and cash equivalents, stood at -€31.3 million, corresponding to net cash of €31.3 million.

The change from €107.6 million in net cash as of 31 December 2025 was mainly attributable to the distribution of a €42.3 million dividend, or €0.40 per share, increased seasonal working-capital requirements, as well as an investment of approximately €28.2 million to acquire a 12.56% stake in Fourlis.

Outlook for 2026

For the full year, Quest’s management expects high single-digit sales growth and modest increases in both EBITDA and profit before tax, despite the sale of most of the Group’s energy business.

In the Commercial Activity segment, sales are expected to increase moderately, with profit before tax forecast to remain broadly at the same level or increase slightly.

In IT Services, double-digit growth in both sales and earnings is expected to continue, driven by expansion in both Greece and international markets. The order backlog from signed contracts exceeds €650 million. For ACS, revenue growth and a corresponding increase in profitability are expected.

In the renewable energy sector, results are expected to be significantly lower due to the sale of the photovoltaic parks with a total capacity of 36.7 MW. For 2026, sales of approximately €1 million are expected, with EBITDA estimated at around 50% of sales and profit before tax at approximately 15%.

Management notes that its 2026 forecasts are based on the assumption that there will be no prolonged adverse developments in energy and commodity prices, or in consumption, as a result of unfavourable developments in the international economy.

At the same time, according to management, the Group’s strong financial position provides it with the capacity to withstand potential challenges while also allowing it to capitalise on investment opportunities that may arise.