Quest Group reports higher 2017 results

Quest Group on Tuesday reported a 12.4 pct increase in its consolidated sales to 436 million euros in 2017, from 388 million in 2016, with EBITDA rising 23 pct to 39 million euros.

In an announcement, Quest Group said it more than covered a loss in revenue and profits from Quest Energy, which sold two large photovoltaic parks in 2016.

The Group reported a turnaround of its 2016 losses to an operating profit in its Cardlink and Quest Online subsidiaries and implemented significant investments in 2017. The group’s net borrowing position was 4.5 million euros, down from 19.9 million in 2016, reflecting investments worth 25 million euros and moving capital for the development of sales worth 19 million euros.

Parent revenue was 4.48 million euros in 2017, down 30 pct from the previous year, EBITDA eased to 3.3 million euros from 3.9 million, respectively, while pre-tax earnings were 2.2 million euros from a loss of 1.6 million euros in 2016. After-tax earnings rose to 2.0 million euros in 2017 from a loss of 1.8 million in 2016. Pre-tax earnings were negatively affected by around 1.1 million euros due to higher provisions of real estate asset writedowns.