OPAP’s financial results recorded strong growth in the nine months of the year as a result of the full operation of the group’s stores. In particular, in the nine months of 2022, compared to the corresponding period of 2021, net income before contributions (GGR) increased by 34.4%, to approximately EUR 1.4 billion, which is associated with the full operation of OPAP branches as the whole period.” 2022 and robust demand during a period of tight consumer spending. During the same period, gross profit (from games) increased by 40% to €575 million, driven by increased revenue combined with higher profits. Earnings before interest, taxes, depreciation and amortization (Ebitda) for the nine months increased by 40.4% to €533 million, with a regular growth rate of 48.4%, reflecting the normalization of operations as a result of higher revenues. . Net profit for the nine months year on year increased by 60.3% to 286 million euros compared to the corresponding period in 2021.

At Q3 levels, GGR OPAP was €499 million (+6%) year-on-year, reflecting growth in retail as a result of a gradual return of casual shoppers to stores, as well as strong momentum in online sales. games. Ebitda increased by 13% to 198 million euros, while net income increased by 19% to 118.5 million euros.

The FIFA World Cup is expected to boost OPAP’s fourth quarter earnings significantly.

OPAP has a strong cash position with a net debt of €244m and a Net Debt/Ebitda LTM (last twelve months) ratio of 0.35x (or 0.41x including leases).

“During the third quarter of 2022, our results were characterized by a continued recovery in retail, as a result of a gradual return of casual players and a consistently strong growth in online activity. In addition, the normalization of our operations resulted in an improvement in Ebitda margins, helping to strengthen OPAP’s financial position. The benefits derived from our unique product offerings across both channels, as well as our focus on continually improving the customer experience, highlight the effectiveness of the Fast Forward strategy. In addition, during the quarter, we became even closer to our customers and improved our work through initiatives such as the introduction of innovative augmented reality SCRATCHES, the completion of the transition to the new OPAP Store application, the integration of gaming functions into Jokers and casino online widgets, and advertising stocks that further strengthen our portfolio. Looking ahead – and with the long-awaited major world championship just getting underway – we believe this encouraging momentum will lead to a good end to this year,” said Jan Karas, CEO of OPAP.

By sector of operation, net income before lottery fees increased by 41% year-on-year in the nine months to 515 million euros, with the corresponding sports betting amounting to 443 million euros (+25%). GGR from online casinos remained unchanged at 139 million euros.