As part of the obligations of the Company according to article 292 of the ATHEX regulation, OPAP S.A. announces that a conference call took place on 22/03/2006 whereby the Management informed the analysts and institutional investors about the Group financial results for the fiscal year 2006.
The major figures of the Balance Sheet and P&L account were presented while reference was made on the most significant company developments up to date.
Group revenues reached euro 4,633.4m versus euro 3,695.2m in 2005 (25.4% increase) mainly due to the exceptional performance of the STIHIMA and the improvement in the performance of KINO in the second half of the year.
EBITDA for the period amounted to euro 738.2m, up 3.3% compared to 2005. EBITDA margin for the year decreased to 15.9% from 19.3% in the same period last year, mainly due to an increase in the payout ratio of Stihima and in distribution costs.
Net Profit increased by 11.2% at euro 509.8m from euro 458.3m in 2005.
As regards the company''''s dividend policy the Board of Directors decided to propose to the Ordinary General Shareholders Meeting the distribution of dividend euro 1.58 per share, compared to euro 1.42 in 2005 (11.3% increase). Given the payment of interim dividend of euro 0.55 per share that has already taken place the dividend remainder amounts to euro 1.03 per share.
As far as main developments are concerned reference was made to:
- The in house assumption as of January 30, 2007 of the organization, operation and management of STIHIMA with the support of Intralot until July 29, 2007. To date, the transition has been satisfactory as evidenced by the sustained positive trends in revenues and the containment of the payout ratio.
- The Tender for technological upgrade. Ôhe BoD expects the submission of the technical evaluation report by the committee.
- Lastly reference was made to recent rulings in Europe. The last few days, the European Court of Justice and the European Free Trade Association Court have reached three decisions (Placanica, Unibet, Kingdom of Norway). In three consecutive press releases, the President of the European State Lotteries and Toto Association Dr. Winfried Wortmann has commented on the outcome of the above judgments, stating that they are all in favor of the maintenance of the existing state monopolies in the gaming sector.