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Athens News Agency: News in English, 08-08-26

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] OPAP: Ebitda up 40% in H1

  • [01] OPAP: Ebitda up 40% in H1

    OPAP, Greece's lottery and betting pools operator, on Tuesday reported a 40.1-pct increase in its earnings before tax, interest and amortization (EBITDA) to 556.1 million euros in the first half of 2008, up from 396.9 million in the same period last year, while its EBITDA margin jumped to 20.2 pct form 16.7 pct over the same period, respectively. EBITDA rose 27.6 pct in the second quarter of the year to 256.7 million euros.

    OPAP said its improved results reflected mainly lower operating spending. Sales rose 16.2 pct in the first six months of 2008 to 2.760 billion euros, from 2.375 billion last year, with second quarter sales rising 12.8 pct to 1.380 billion euros.

    Net profits rose 35.2 pct to 385.8 million euros, despite higher amortisation costs. Net profits rose 24.9 pct in the second quarter to 177.3 million euros. Commenting on the results, OPAP's chairman and chief executive, Christos Hatziemmanouil, said: "We are very pleased with the continuing increase of our figures."

    Caption: A file photo dated Nov. 11, 2004, shows a punter writing out a betting slip for one of OPAP's lottery games. ANA-MPA / A. VLAHOS.


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