An increase in sales in 2026, with EBITDA and pre-tax profits at levels comparable to those of 2025, due to divestment from most assets in the energy sector, Quest management predicted during the group’s annual general meeting yesterday. By business segment, Quest’s management estimates that commercial operations will see sales growth with profitability comparable to 2025 levels, while in IT services, it expects double-digit growth in both sales and profits, thanks to strong demand and investments in digital transformation.
At the same time, the express delivery and postal services sector is projected to see an acceleration in sales and pre-tax profit growth, while the renewable energy sector is expected to see a contraction in activity following the sale of a 36.5 MW power portfolio at the end of 2025.
It should be noted that the estimates for 2026 are based on the assumption that there will be no prolonged negative trend in energy prices, commodity prices, and consumption due to the war in the Middle East.
It is recalled that the Quest Group, which maintains an international presence in 30 countries and employs 3,454 people, recorded consolidated sales of €365.5 million, EBITDA of €22.1 million, pre-tax profit of €15.2 million, and net profit of €11.4 million.
In 2025, the group reported revenue of €1.47 billion, EBITDA of €107 million, pre-tax profit of €71 million, and equity of €371 million.
Challenges in Romania and the Group’s Resilience
Referring to the performance of the group’s individual companies, Quest CEO Apostolos Georgantzis noted that “in 2025, our most profitable companies were the courier services (ACS) and Unisystems.”
On the other hand, as he noted, “the worst performer was a smaller operation we launched in Romania, which was the only one to end the year with a loss.”
Explaining the reasons, Mr. Georgantzis pointed out that the Romanian market is going through a particularly difficult period, as after years of growth its economy is facing challenges, while political instability and pressure on the currency are further burdening the business environment.
“We are cautious about what we will be able to do in Romania. The situation has been very difficult over the past year. Political instability, inflation, a falling currency. These factors make us very cautious about the future, about the market,” he stated.
Despite the difficulties in Romania, the head of Quest emphasized that the group’s other operations performed particularly well, offsetting any losses. “Nevertheless, we are a group with many activities that performed quite well, outweighing any negatives from Romania, and we did much better than the previous year. This trend continued exactly as it was in the first quarter of 2026,” he noted.
At the same time, he clarified that this specific activity is limited in scope at the group level. “Our activity is very limited. It does not affect us at the group level,” he pointed out, adding that no decision has been made regarding the future.
As noted during the general meeting, plans for further expansion into the Romanian market have been put on hold for the time being, at least until a clearer picture of the market’s trajectory emerges.
Scenarios for the Stock Exchange and the prospects for investment in Fourlis
Regarding the prospect of one of the group’s companies listing on the Stock Exchange, management commented that in the case of ACS, the group is in a divestment phase and a clearer picture will emerge by the end of the year. Regarding Uni Systems, it was noted that this is an idea that had been considered in the past. However, as stated, it is not currently under discussion, though it has not been ruled out.
“It is not something we are currently considering in general, because if we were to pursue certain activities, these would be the first ones we would look at due to their size,” explained Mr. Georgantzis.
Finally, regarding the prospects for the investment in Fourlis, Quest Chairman Theodoros Fessas noted that the group could help further improve the company’s performance.