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OFFON

GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.

(OPAP)
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OPAP (OPAP) : Fast Forward to growth and higher returns

06/16/2021 | 02:01am EDT
Edison Investment Research Limited 
OPAP (OPAP): Fast Forward to growth and higher returns 
16-Jun-2021 / 07:00 GMT/BST 
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London, UK, 16 June 2021 
 
OPAP (OPAP): Fast Forward to growth and higher returns 
OPAP is Europe's only listed gaming operator with 100% pre-paid exclusive retail licences, which provide significant 
barriers to entry and relatively secure recurring cash flow. Prior to COVID-19, management delivered consistent revenue 
growth from product enhancements and profit growth was further helped by managing operating costs. The company looks 
well placed to deliver strong revenue growth as it recovers post COVID-19, and its exposure to faster growing 
businesses, including online, increases. The new CEO's strategy, Fast Forward, aims to grow the brands and customer 
interactions while maintaining OPAP's leading corporate and social responsibility credentials. We expect OPAP to 
continue its dividend policy of paying out the bulk of free cash flow and estimate a dividend yield of 5.8% in FY21 and 
9.1% in FY22. 
 
The share price has performed well in response to the favourable licence extension and in anticipation of a clearer 
path to recovery post COVID-19 and greater growth with Stoiximan. OPAP continues to trade at a discount to its quoted 
peers and the prospective yield of 5.8% in FY21 and 9.1% in FY22 looks attractive given the strong balance sheet. Our 
DCF indicates a valuation of EUR16.6 per share. 
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Dissemination of a CORPORATE NEWS, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 

1208206 16-Jun-2021

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1208206&application_name=news 
 

(END) Dow Jones Newswires

June 16, 2021 02:00 ET (06:00 GMT)

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Financials
Sales 2021 1 622 M 1 915 M 1 915 M
Net income 2021 294 M 347 M 347 M
Net Debt 2021 410 M 484 M 484 M
P/E ratio 2021 13,0x
Yield 2021 7,77%
Capitalization 4 034 M 4 774 M 4 763 M
EV / Sales 2021 2,74x
EV / Sales 2022 2,27x
Nbr of Employees 1 497
Free-Float 55,4%
Chart GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.
Duration : Period :
Greek Organisation of Football Prognostics S.A. Technical Analysis Chart | OPAP | GRS419003009 | MarketScreener
Technical analysis trends GREEK ORGANISATION OF FOOTBALL PROGNOSTICS S.A.
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 11,88 €
Average target price 15,44 €
Spread / Average Target 29,9%
EPS Revisions
Managers and Directors
Jan Karas Chief Executive Officer & COO-Retail
Pavel Mucha Chief Financial Officer & Executive Director
Kamil Ziegler Executive Chairman
Michele Fusella Chief Technology Officer
Igor Milos Rusek Independent Non-Executive Director
Sector and Competitors