Quest Group reports improved results in 2021
Completed the sale process of Cardlink S.A. The transaction yielded extraordinary capital gains of €78,1million.
During 2021 Quest Group recorded Sales €947,9million, EBITDA €75,6m and EBT €136,1million. Excluding Cardlink’s numbers which was sold on the 30/9/2021, consolidated sales from continued operations were €915,9million, EBITDA €64million and EBT €51,3million.
In a nutshell during 2021 the Group:
- Completed the sale process of Cardlink S.A. The transaction yielded extraordinary capital gains of €78,1million.
- Achieved growth in Sales by 33,3%, in EBITDA by 33,7%, in EBT by 59,6% and 3x growth in EAT from continued operations. Three segments contributed more than €10million each.
The main consolidated financial results & figures are illustrated as follows and are broken down to continued and “discontinued” operations (corresponding to Cardlink S.A. and Cardlink One S.A. and the sale of Cardlink S.A., according to IFRS):
Group’s Net Debt (Debt minus Cash and Cash Equivalents) was -€84,6million, compared to -€10,2million at 31/12/2020, enhanced by the proceeds from the sale of Cardlink. The Group’s investments were €24,2million. Most of it regards to the development of the new central hub of postal services. EBT and EAT from continued operations include extraordinary profits of €2million mainly from the sale of a minority stake at TEKA Systems SA. At this point it worth noting that 12M2020 EAT from continued operations were burdened by an extraordinary tax of €11,1million. Exempting the extraordinary tax impact, EAT from continued operations in 12M2021 are improved by 73% compared to last year.