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OPAP
€352.0 million net profit in the first nine months of 2024
OPAP reported strong third quarter and nine-month results, with both group and company profitability further enhanced by the expected normalisation of operating expenses, reflecting the growth in gaming activity in the current period.
The deal in Cyprus and the growth in retail activities
CEO Jan Karas highlighted the ΟPAP's dividend policy and stressed that the Board of Directors had decided to distribute an interim dividend of €0.6 per share with a cutoff date of November 4 when presenting company's strong results to analysts.
Net profit of €231,6 million for the half-year
The half-year financial results announced by OPAP are at the same level as last year. Net profit amounted to €231.6 million compared to €224.4 million in the same period last year.
GGR up 4.9% in the first quarter
Due to the notable growth of online, OPAP's Q1 2024 net revenue before contributions (GGR) increased by 4.2% year over year to €549.7 million.
JP Morgan recommends "buy", new price target at €20
JP Morgan increases the target price for OPAP from the previous estimate of €18.5 to €20
Net Profits €307.7million in 9M
9M’23 Gross Gaming Revenues (GGR) landed at €1,506.5m vs €1,398.1m in 9M’22, higher by 7.8% y-o-y driven by solid growth in retail and strong online performance.
Sellers dominate
Sellers dominate the stock market amid a global corrective trend following the assertive tones of Fed Jerome Powell.