Profit

OPAP, Europe's fourth-biggest betting business, reported a 38% drop in first-quarter profit on Wednesday due to the closure of outlets during the coronavirus lockdown in Greece and Cyprus.

Net profit in the January to March period stood at 35.5 million euros ($40.3 million), down from 57.2 million in the same period a year before.

Greece's biggest power utility Public Power Corporation (PPC) made a core profit in the first quarter of the year, helped by a drop in energy costs due to worldwide coronavirus lockdowns, it said on Tuesday. 

Leading business group Mytilineos on Thursday announced a 3.7 percent yearly increase in its turnover in the first quarter of the year, to 532.7 million euros, while enjoying strong cash flow of €1.5 billion.

Telecommunications company Forthnet, whose creditors have entered into exclusive negotiations with BC Partners for the concession of its shares and debts, announced on Thursday that it had reversed the trend of previous years in which it registered a drop in in broadband subscriptions to post growth of 0.2 percent in 2019 to 550,967, while its pay-TV (Nova) subscribers in Greece and Cyprus fell

Greece's biggest power utility Public Power Corporation (PPC) on Thursday posted a net loss of 1.68 billion euros for 2019 after it wrote down the value of its coal-fired plants.
PPC, which is 51 percent state-owned and plans to switch off all but one of its coal-fired plants by 2023, said the figure compared with a net loss of 903.8 million euros in 2018.

OTE Telecom will cut expenses drastically to ensure it meets its targets for 2020 earnings before interest, tax, depreciation and amortization (EBITDA) and free cash flow, the CEO of Greece's biggest telecom operator said on Tuesday.
OTE Telecom, which is 46 percent owned and managed by Deutsche Telecom, Europe's biggest, has projected free cash flow of 350 million euros this year.

The shopping centers of Lamda Development - The Mall Athens, Golden Hall and Mediterranean Cosmos - have shown an increase in their operating profits for the seventh year in a row, Lamda announced on Tuesday.
Their 2019 earnings before interest, tax, depreciation and amortization (EBITDA) amounted to 64.3 million euros, up 8.6 percent from 2018.

The COVID-19 pandemic stands to improve familial bonds with so many people in Turkey forced to stay at home, according to a leading psychologist and thinker.

"[The lockdown] is an opportunity to discover the language of the family and familial love," Gündüz Vassaf told the Hürriyet Daily News this week.

OPAP, Europe's fourth-biggest betting business, said it had seen almost all its revenue wiped out by the closure of its outlets due to a coronavirus lockdown in Greece and Cyprus.

The Hellenic Corporation of Assets and Participations (EESYP), better known as the state asset hyperfund, has announced increased revenues and profits for 2019.