OPAP Q3 brings steady growth despite unfavourable sporting results

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ATHENS, Greece – November 27, 2018 – OPAP S.A. (OPAr.AT, OPAP:GA), the leading gaming operator in Greece, announces its consolidated financial results for the nine month period ended September 30 th, 2018, prepared in accordance with International Financial Reporting Standards (IFRS).

Revenues (GGR) increased by 5.8% at €1,106.3m in 9M 2018 (9M 2017: €1,045.8m). GGR in Q3 2018 posted a 3.2% increase at €368.9m (Q3 2017: €357.4m), due to increased VLTs contribution and strong Joker performance.

 Gross Profit (from gaming operations) increased by 6.3% in 9M 2018 at €434.0m (9M 2017: €408.2m). Q3 2018 gross profit increased by 5.2% at €146.0m (Q3 2017: €137.7m), staying 2 p.p. higher vs. revenue run rate.

 EBITDA in 9M 2018 increased by 9.4% to €244.6m (9M 2017: €223.5m), while Q3 2018 EBITDA came in at €87.2m (Q3 2017: €92.9m), lower by 6.1% y-o-y, but still higher by 11.6% LFL.

 Operating Expenses in Q3 2018 stood at €66.0m marking a decrease by 1.3% y-o-y on a LFL basis.

 9M 2018 Net Profit at €105.2m (9M 2017: €93.2m) higher by 12.8% & Q3 2018 net profit at €39.1m (Q3 2017: €43.5m) lower by 10.1% y-o-y, but still higher by 18.4% on a LFL basis.

 Strong financial position, with Net Debt at €462.3m, and Net Debt/EBITDA ratio of 1.4 times.

 16,043 VLTs and 4,016 SSBTs installed at end of September 2018.

 Launch of new online sports betting platform.

 Introduction of new features on key games: KINO side bets & Virtual Sports Matchday