• 9M 2021 Gross Gaming Revenues (GGR) stood at €1,040.3m higher by 15.7% y-o-y driven by solid online contribution. Q3’21 GGR came in at €470.2m, up by 20.3% y-o-y despite a marginal drop in retail, which was affected by the COVID-19 restrictions.
  • Gross Profit (from gaming operations) in 9M’21 up by 33.2% at €450.6m (9M 2020: €338.2m). Q3 2021 gross profit (from gaming operations) increased by 37.2% at €201.8m (Q3 2020: €147.1m) due to increased online contribution, partially offset by Hellenic Lotteries’ disproportional GGR contribution so as to meet the minimum annual €50m contractual threshold.
  • 9M 2021 EBITDA higher by 83.0% at €379.9m (9M 2020: €207.6m) or +70.3% l-f-l, also reflecting income related to the extension of the concession agreement of €158.7m. Q3 2021 EBITDA came in at €175.0m (Q3 2020: €105.0m) up by +66.1% l-f-l after excluding one-off items in both years.
  • Operating Expenses in 9M 2021 at €268.7m, higher by 47.2% y-o-y while Q3 2021 Opex reached €93.6m higher by 62.1% y-o-y. After excluding Stoiximan’s full consolidation impact and one-off items, 9M & Q3 2021 Opex decreased by 2.9% and 3.4% y-o-y respectively, reaffirming our constant focus on cost containment.
  • Net Profit in 9M 2021 stood at €178.2m (9M 2020: €73.2m) up by 97.3% l-f-l on the back of increased operating profitability and a lower corporate tax rate. Q3 2021 Net Profit stood at €96.1m (Q3 2020 Net Profit at €52.8m).
  • Strong cash position, with Net Debt at €378.4m, and further improved Net Debt / LTM EBITDA at 0.9x (1.0x incl. leases).

For further information on OPAP’s consolidated financial results for the period ended September 30th, 2021, please download the comprehensive report listed below.

Financial results OPAP