OPAP reported good Q1 20 numbers, beating street consensus but missing our estimates on the top-line as well as the bottom-line. As expected, the performance was hit hard by the COVID-19 restrictions, and we expect Q2 to be worse. However, the company announced a final dividend of €0.30/share, which is a positive given that competitors have cancelled dividends or paid in shares. However, we will be trimming our estimates given the harder-than-expected hit from the pandemic.
15 Jun 2020
A soft Q1 20 showing
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A soft Q1 20 showing
- Published:
15 Jun 2020 -
Author:
Virendra Chauhan -
Pages:
3
OPAP reported good Q1 20 numbers, beating street consensus but missing our estimates on the top-line as well as the bottom-line. As expected, the performance was hit hard by the COVID-19 restrictions, and we expect Q2 to be worse. However, the company announced a final dividend of €0.30/share, which is a positive given that competitors have cancelled dividends or paid in shares. However, we will be trimming our estimates given the harder-than-expected hit from the pandemic.