Friday March 6, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
New tax hits 2013 profits of Greece's OPAP

Greek gambling monopoly OPAP posted a bigger-than-expected drop in its 2013 net profit, hurt by a new tax the country imposed on the firm to help plug its budget shortfall.

Greece slapped a 30 percent levy on OPAP’s gross gaming revenue last year to meet the terms of its 237-billion-euro international bailout.

The move shaved 345 million euros off OPAP’s 2013 profit, the company said late on Monday.

OPAP reported net profit of 141 million euros, down 72 percent on the year, missing an average forecast of 152.7 million euros in a recent Reuters poll of analysts.

Earnings before interest, tax, depreciation and amortization (EBITDA) fell 67 percent to 221.7 million euros, below market expectations and lower than the company’s guidance of 242 million euros.

Although sales fell 6.6 percent to 3.7 billion euros last year, they improved marginally in the third quarter for the first time in three years and the positive trend continued in the last quarter of the year, leading to a 4 percent rise.

“Within an overall difficult year for the Greek economy, OPAP’s financial results in the fourth quarter mark an encouraging trend,” Chief Executive Kamil Ziegler said in a statement.

[Reuters]

ekathimerini.com , Tuesday April 1, 2014 (20:44)  
Cash-strapped Greece repays first part of IMF loan due in March
Greece must repay loans in full, bailout fund head says
Jobless rate starts picking up again
Election lifted consumers’ mood
Greek and German bruisers limber up for ´rumble in the eurozone´
They are both tough men of a certain age used to getting their way. In one corner stands Wolfgang Schaeuble, the dry 72-year-old German Finance Minister and self-appointed guardian of the Eu...
BoG chief Stournaras briefs PM Tsipras on ECB´s decisions on Greece [Update]
Bank of Greece Governor Yannis Stournaras visited Prime Minister Alexis Tsipras on Friday to brief him on discussions at the meeting of the European Central Bank's governing council in Nicos...
Inside News
BASKETBALL
Barcelona beats Panathinaikos once more
For the fourth time this season Panathinaikos failed to beat Barcelona, this time in Athens, losing 81-77 on Thursday and denting its chances for a privileged top-two finish in its Euroleagu...
SOCCER
Iraklis, Apollon and Xanthi in Cup semis
The prospect of a second-division team reaching the Greek Cup final has grown considerably after two out of the three teams that made the semifinals this week come from the Football League. ...
Inside Sports
COMMENTARY
PISA, Schengen, mediocrity and isolation
Greece’s most serious problem is not the economic and political crisis, though it did contribute greatly to it. At the root of our evil lies our great isolation, not only from our partners i...
COMMENTARY
Balancing the Greek budget: The ancient Athenian perspective
Is democracy good for balancing a budget? For many today the answer is a resonating no. This answer is easy to understand. In the birthplace of democracy, Greece, the state’s budget is a mes...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Cash-strapped Greece repays first part of IMF loan due in March
2. Greek and German bruisers limber up for ´rumble in the eurozone´
3. Greece must repay loans in full, bailout fund head says
4. BoG chief Stournaras briefs PM Tsipras on ECB´s decisions on Greece [Update]
5. Barcelona beats Panathinaikos once more
6. Iraklis, Apollon and Xanthi in Cup semis
more news
Today
This Week
1. BoG chief Stournaras briefs PM Tsipras on ECB's decisions on Greece [Update]
2. Greece must repay loans in full, bailout fund head says
3. Greek and German bruisers limber up for 'rumble in the eurozone'
4. Cash-strapped Greece repays first part of IMF loan due in March
5. Greek-Turkish relations
6. Greece seeks to plug its 'Bermuda Triangle' of lost taxes
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. The Greek tax drama
3. SYRIZA feeling the pain
4. Varoufakis to make six reform proposals at Monday's Eurogroup
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.