Edison Investment Research - Greek Organisation of Football Prognostics SA (OPAP) OPAP - Steady progress towards FY24 guidance

Report

Edison Investment Research

Kate Heseltine

OPAP - Steady progress towards FY24 guidance

OPAP delivered good revenue growth in Q124 while profitability declined, mainly due to the upfront investment to support a major new product launch, which should boost revenue as the year progresses and provide better leverage on the higher cost base. The broad message is of strong online growth with resilience in its land-based activities, which gives management confidence to reiterate its guidance for the year.

04/06/2024 1 EN

Underlying

Greek Organisation of Football Prognostics SA

OPAP is engaged in the operating and management of numerical lottery and sports betting games as well as lottery games. Co. holds concession to operate and manage new sports betting games in Greece as well as a right of first refusal to operate and manage any new lottery games permitted by the Hellenic Republic. Co. operates six numerical lottery games, including Joker, Lotto, Proto, Extra 5, Super 3, and Kino; and three sports betting games consisting of Stihima, Propo, and Propo-goal. Co. is also engaged in designing new lottery games, including Bingo and Super 4. Co. distributes its games through an extensive on-line network of agents.

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GRS419003009 Greece

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Kate Heseltine

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OPAP - Steady progress towards FY24 guidance

WOOD Daily: GE Macro; CEZ CP; OPAP GA; ELPE GA

The Rear-View Mirror – EME markets: Turkish equities in the lead

Phoenix Spree Deutschland - Accelerating the unlocking of value

Newron Pharmaceuticals - Evenamide road to registration and beyond

Molten Ventures - Green shoots of recovery

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