OPAP announces net profits of 38.9 million euros in Q1

14:18 27/5/2013 - Πηγή: Matrix24

OPAP S.A. betting company announced net profits for the first quarter of the year totalling 38.9 million euros, compared to 131.9 million euros in the corresponding period in 2012, a decrease of 70.5 percent.

Sales totalled 869.3 million euros as against 1,065.2 million euros, in the corresponding period of 2012 (a decrease

of 18.4 percent), as a result of the difficult economic conditions, the fewer days of operation of agencies and the taxation of the profits of players.

The profits before interest, taxes and depreciation (EBITDA) amounted to 57.6 million euros as against 184.4 million euros (a decrease of 68.8 percent) due to the taxation of net revenues by 30 percent as of January 1, 2013.

The board maintains the target of net profit-making unchanged for the year, at 116 million euros, as was presented in the company’s operational plan.

Source: AMNA