Comment of OPAP’s Acting CEO, Mr. Jan Karas, on the H1 2020 results: “2020 has been an extremely demanding year so far, with the coronavirus pandemic leading to unprecedented challenges for both businesses and society. The decisive and prompt actions taken by OPAP to mitigate the pandemic’s impact for all of its stakeholders have been reflected in the company’s financial results, which were once more sound, as well as in its evolving socioeconomic footprint. When it comes to the financials, Q2 moved alongside our demanding expectations, leading to cash generation even during the harshest of times. Going forward, initiatives such as the constant enhancement of our online offering, prompt cost control actions, the swift adaptation to a new working norm, and the ongoing support of our network and our social stakeholders remain at the forefront of our attention. Undoubtedly, there will be additional hurdles on the road to recovery, but we are confident that we are well positioned to face any challenges.

Regulatory announcements

Interim Financial Results for the 6-month period ended June 30 2020

09/09/2020

Press Release – Q2 2020 Financial Results

Six-month Financial Report 2020

Presentation H1 2020

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 H1 Gross Gaming Revenues (GGR) at €507.9m lower by 34.8% y-o-y and Q2’20 GGR at €179.6m decreased by 53.2% y-o-y due to the imposed Covid-19 related lockdown and the accompanying stores closure. Performance post full reopening (June 8th - June 30th) returned to positive ground.

 Gross Profit (from gaming operations) in H1’20 down by 37.1% at €191.1m (H1 2019: €304.0m). Q2 2020 gross profit (from gaming operations) stood at €68.8m (Q2 2019: €150.1m) lower by 54.2% y-o-y as a result of revenues drop, with post full reopening figures, returning to growth.

 EBITDA in H1 2020 lower by 49.1% to €102.5m (H1 2019: €201.4m) or -43.4% on l-f-l after excluding oneoff items in both years. Q2 2020 EBITDA came in at €16.2m (Q2 2019: €88.4m) decreased by 81.7%, or - 74.7% on l-f-l basis.

 Operating Expenses in H1 2020 at €124.8m, contained by 6.9% y-o-y in accordance with company’s commitments.

 Net Profit in H1 2020 lower by 77.7% to €20.4m (H1 2019: €91.8m) or -64.5% on a l-f-l basis after excluding one-off items in both years. Q2 2020 Net Loss came in at €15.1m (Q2 2019: profit of €34.6m) or €-4.9m vs. Q2 2019 profit of 36.6m when excluding one-off items.

 Material quarterly cash generation thus maintaining a strong financial position, with Net Debt at €517.4m, and Net Debt/LTM EBITDA at 1.6x.

 FY 2019 dividend distribution of €0.30 per share in August reflecting OPAP’s strong foundations and commitment to distribute economic value to all stakeholders.

 Strong Kaizen Gaming (Stoiximan/Betano brands) contribution combined with OPAP’s online double-digit growth during and post the lockdown period.

 Social  distancing measures, local lockdowns and limited visibility call for prudent management and constant operational focus.

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