GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.
Annual analyst briefing on the FY09 results
As part of the obligations of the Company, according to Article 4.1.4.3.2 of the ATHEX regulation, OPAP S.A. announces that a conference call took place on March 23rd, 2010 whereby the Management informed the analysts and institutional investors on the Group financial results for the fiscal year 2009. The major figures of the FY09 financial statements were presented while reference was made on the company's targets and priorities for 2010.
Specifically:
Group revenues for 2009 reached €5,440.9m versus €5,519.6m in 2008 (down 1.4%) despite the absence of any major sporting event as well as the adverse macroeconomic environment.
The Group's EBITDA reached €966.8m in 2009 from €1,056.9m in 2008, down 8.5%. The EBITDA margin decreased to 17.8% from 19.2% in 2008, mainly due to the higher Stihima payout and higher distribution expenses.
In Q4 2009, EBITDA was up 5.2% to €273.6m versus €260.1m in the corresponding period of 2008 due to lower distribution expenses.
Adjusted 2009 net profit decreased by 5.0% to €691.9m from €728.5m last year.
As far as dividend distribution, the Board of Directors of OPAP, in the context of the policy followed in the recent years, as well as the extraordinary tax imposed to all large Greek corporations, resolved upon the distribution to the shareholders of a gross dividend of €1.75 per share for the fiscal year 2009 compared to €2.20 per share for the fiscal year 2008 (down 20,5%). Excluding the gross interim dividend of €0.65 per share already paid on December 24, 2009, the remaining gross dividend payment to the shareholders amounts to €1.10 per share.
Additionally it has been noted that given the adverse economic environment, the company's strategic focus is to enhance and solidify OPAP's position in the domestic market in 2010 and over the coming years by:
- Further improving the quality of our existing games and the appeal of our franchise
- Preparing for the expansion into new activities such as VLTs, scratch tickets and online sports betting when permitted by the regulator
- Actively supporting the State in its efforts to confine illegal betting
- Optimizing OPAP's cost base and improving it's operational efficiency
Specifically:
Group revenues for 2009 reached €5,440.9m versus €5,519.6m in 2008 (down 1.4%) despite the absence of any major sporting event as well as the adverse macroeconomic environment.
The Group's EBITDA reached €966.8m in 2009 from €1,056.9m in 2008, down 8.5%. The EBITDA margin decreased to 17.8% from 19.2% in 2008, mainly due to the higher Stihima payout and higher distribution expenses.
In Q4 2009, EBITDA was up 5.2% to €273.6m versus €260.1m in the corresponding period of 2008 due to lower distribution expenses.
Adjusted 2009 net profit decreased by 5.0% to €691.9m from €728.5m last year.
As far as dividend distribution, the Board of Directors of OPAP, in the context of the policy followed in the recent years, as well as the extraordinary tax imposed to all large Greek corporations, resolved upon the distribution to the shareholders of a gross dividend of €1.75 per share for the fiscal year 2009 compared to €2.20 per share for the fiscal year 2008 (down 20,5%). Excluding the gross interim dividend of €0.65 per share already paid on December 24, 2009, the remaining gross dividend payment to the shareholders amounts to €1.10 per share.
Additionally it has been noted that given the adverse economic environment, the company's strategic focus is to enhance and solidify OPAP's position in the domestic market in 2010 and over the coming years by:
- Further improving the quality of our existing games and the appeal of our franchise
- Preparing for the expansion into new activities such as VLTs, scratch tickets and online sports betting when permitted by the regulator
- Actively supporting the State in its efforts to confine illegal betting
- Optimizing OPAP's cost base and improving it's operational efficiency