OPAP says net revenue up 4.1 pct in 2017

OPAP SA reported a 4.1 pct increase in its net revenue – before social contributions – to 1.455 billion euros in 2017, from 1.398 billion in 2016.

EBITDA eased slightly to 306.5 million euros last year, from 307.5 million in 2016, while net earnings fell 25.9 pct to 126.2 million euros.

The company’s board will seek shareholders’ approval to a plan to pay a 0.40 euro dividend to shareholders (pre-tax). OPAP has already paid a pre-dividend of 0.10 euro per share, leaving a 0.30 euro payment to shareholders.

Damian Cope, OPAP’s CEO, commenting on the results said “2017 was a demanding year, taking in mind the level of changes made in OPAP. These changes are a strong base to ensure long-term benefits and achieving the Vision 2020 plan of the company”.

Cope said in 2018 OPAP will continue implementing significant projects in the fields of technology and products – particularly the development of the VLTs and SSBTs networks, while the ocmpany will present its new betting platforms.