His financial results for the first half of 2025 ended on June 30, 2025 announced today (3.9.2025) by OPAPthe largest gambling company in Greece.
OPAP’s net profits amounted to EUR 233.4 million in the six -month period increased by 6.3% annually. Net profits in the second quarter of 2025 amounted to € 110.0cm. (Second quarter 2024: € 106.1m), increased by 3.6% on a yearly basis.
In particular:
- The net revenue of the OPAP 2025 Ahead of 2025 was € 1,153 million versus € 1,082.5 million in the first semester 2024, increased by 6.5% annually, while net revenue in the second quarter of 2025 amounted to € 557.9 million, increased by 4.7%, up to 4.7%, up to 4.7%, up to 4.7%. Strong performance of online (+9.2% on an annual basis) – contributing 31% to the group’s total revenue – and the contribution of the Retail activity, which rose 2.8% annually.
- Mixed profit (from games) in the first half of 2025 increased by 8.1% annually and was € 487 million (1st semester 2024: € 450.6 million), due to the increase in GGG in combination with high profit margins. In the second quarter of 2025 the gross profit (from games) stood at € 236.2 million (second quarter 2024: € 223.9 million), increased by 5.5% annually, following the increase in revenue.
- Operating expenses of the first semester 2025 amounted to € 228.2 million versus € 213.9m. The first semester 2024, increased by 6.7% on an annual basis. The operating costs of the second quarter of 2025 amounted to € 114.9 million (second quarter 2024: € 108.5 million), increased by 5.8% annually, mainly due to payroll expenses and information -related expenses.
- Earnings before interest, tax and depreciation (EBITDA) in the first semester 2025 increased by 6.6% on an annual basis to € 398.4 million (1st semester 2024: € 373.7 million). EBITDA in the second quarter of 2025 increased by 4.3% annually to € 191.3 million (second quarter 2024: € 183.4 million), as a consequence of the strong increase in revenue.
- Net profits in the first half of 2025 stood at € 233.4 million (1st semester 2024: € 219.5 million), up 6.3% on a yearly basis. Net profit in the second quarter of 2025 amounted to € 110 million (second quarter 2024: € 106.1 million), increased by 3.6% on an annual basis.
- Strong cash position, with a net lending of € 147.7 million, and net lending index / LTM EBITDA at 0.17x (0.20x including leases).
- In the trajectory of the targets of the year 2025.
- The OPAP Board of Directors approved the distribution of € 0.50 per share as a use of 2025, with a cut of cut on November 3, 2025.
OPAP Managing Director Jan Karas said about the results of the second quarter 2025: “The second quarter of 2025 was another dynamic quarter for OPAP, with strong financial results and increasing gross revenue of 4.7% per year, despite the difficult comparison for athletic betting compared to last year, due to Euro 2024. And performance, thanks to a favorable Jack-Pot series, which extended to the third quarter. In addition, the positive dynamics of Eurojackpot, supported by a new communication campaign, continued. These factors had a broader positive impact on movement on the retail network and all game categories. Also, for another quarter, Igaming activities, supported by the ongoing development of the portfolio, customers’ experience and loyalty programs, also recorded strong results. Overall, the results of the second quarter reflect the successful execution of our business strategy, as well as our ability to create sustainable value. In this context, and under our commitment to strong returns for shareholders, we are pleased to announce a € 0.50 per share. Looking forward, we are confident that OPAP is appropriately positioned to achieve its financial and business goals for the use of 2025. We remain committed to implementing our strategic priorities, while continuing to respond to our ESG commitments and create value for all our social partners. “