ATHEX-listed OPAP S.A., Greece’s leading gaming and lottery operator, on Tuesday announced consolidated financial results for 2021, in compliance with International Financial Reporting Standards (IFRS).
Gross Gaming Revenues (GGR) stood at 1.538.8 billion euros. higher by 36.2 percent yoy, driven by what the company called solid online contribution as well as retail recovery with OPAP stores operating for more days compared to 2020.
Q4’21 GGR totaled €498.5 million, up by 115.9% y-o-y reflecting solid retail performance and strong online contribution.
Gross Profit (from gaming operations) in FY’21 was up by 47.5% at €605.8 million (FY 2020: €410.8 million). Q4 2021 gross profit (from gaming operations) rose by 151.4% at €195.3 million (Q4 2020: €77.7m) due to increased top line, partially offset by Hellenic Lotteries’ disproportional GGR contribution so as to meet the minimum annual €50 million contractual threshold.
In 2021 OPAP’s EBITDA was higher by 111.1%, at €550.3 million (FY 2020: €260.7 million) or +96.0% l-f-l, also reflecting income related to the extension of the concession agreement of €217.4 million.
