Strong organic growth was shown in the first quarter of this year OPAP, said Jan Karas, CEO of the group, during yesterday’s teleconference with analysts. In particular, in the first quarter of this year, year on year, net income before contributions increased by 15.4% to 527.4 million euros, and earnings before interest, taxes and depreciation (EBITDA) increased by 16.4% to 196. 5 million euros. EBITDA, according to historical data presented by OPAP management during the analysts’ call, has been steadily rising since the first quarter of 2021, when it reached just 49 million euros. The same trend is shown by quarterly net income, which increased by 33.6% to 118 million euros, against a loss of 3 million euros in the first quarter of 2021.
“OPAP maintained its growth momentum in both retail and online, focusing on improving the customer experience and successfully delivering targeted commercial actions. At the same time, significant progress has been made across all areas of the Fast Forward business strategy,” said Mr. Karas, noting that the company is on track to meet its 2023 performance estimates.
As mentioned, OPAP is focusing on transforming its stores into accessible entertainment venues by continuing to modernize them. The goal is for OPAP customers to be able to participate in a range of promotions and events and at the same time develop gaming activity.
Earnings have been steadily rising since the first quarter of 2021.
For the OPAP Store online application, OPAP management said it keeps a record of new active user records, which allows for more efficient customer interactions. Looking forward to the further development of the online market, OPAP has started to upgrade the Pamestoixima.gr sports betting platform, upgrade the Opaponline.gr platform, and created a new company platform iLottery.
With the improvement in the first quarter, not only due to online games, but also due to the increase in the profitability of “Let’s Bet” in agencies, the customer base has grown significantly, setting a record. At the same time, the goal of increasing activity from land-based games is the availability of the People’s Lottery in printed form.
Source: Kathimerini
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