Optima Bank expects a strong start to the year, based on the operation of the Organization’s branch network without interruptions due to a pandemic and the improvement of its EBITDA margin.
In particular, Optima estimates its report that OPAP will announce on May 31 for the first quarter of 2022:
– Revenue of 466 million euros compared to 174 million a year earlier
– EBITDA 165 million euros compared to 61 million last year
– Net profit of 81.5 million euros against losses of 1.9 million in the first quarter of 2021
In addition, Optima Bank expects that the EBITDA margin of OPAP will reach 35.5% (showing an increase of 30 basis points from last year).
Based on its forecasts, the report points out that the target for annual EBITDA of 720 million euros set by the Agency’s management is achievable.
In this context, Optima maintains the ‘Buy’ recommendation for the OPAP title, with a 30% margin.
Source: Capital
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