Evolution AB

EVO

Equity

ISIN SE0012673267 / Valor 48025470

NASDAQ Nordic Exchange Stockholm, Equities (2025-03-14)

SEK 796.40+0.35%

Evolution AB
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About company

Evolution AB is a prominent Swedish company specializing in the development, production, marketing, and licensing of B2B online casino solutions for gaming operators. Established in 2006, the company has grown to become a leading provider in the live casino segment, serving over 600 operators, including major online and land-based casinos. Evolution operates numerous studios across Europe and North America, employing more than 16,000 people. The company is publicly traded on Nasdaq Stockholm under the ticker EVO. Evolution's comprehensive product portfolio and scalable platform have positioned it as a key player in the industry, particularly in the rapidly growing live casino market. The company focuses on delivering innovative solutions that cater to both established and emerging gambling markets, enabling its clients to gain early market share in newly regulated regions.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

In the third quarter of 2024, Evolution AB reported a significant increase in total operating revenues, which rose by 27.9% to EUR 579.0 million compared to EUR 452.6 million in the same period the previous year. This growth was driven by a 14.7% increase in net revenues, reaching EUR 519.4 million.

EBITDA Performance

Evolution AB's EBITDA for Q3 2024 increased by 30.3% to EUR 415.3 million, up from EUR 318.6 million in Q3 2023. This resulted in an EBITDA margin of 71.7%, slightly higher than the previous year's margin of 70.4%. Adjusted EBITDA, excluding other operating revenues, rose by 11.6% to EUR 355.6 million, with a margin of 68.5%.

Profit and Earnings

The profit for the third quarter of 2024 amounted to EUR 328.6 million, an increase from EUR 272.8 million in the same quarter of the previous year. Earnings per share also saw an improvement, rising to EUR 1.57 from EUR 1.28.

Operational Challenges

During Q3 2024, Evolution AB faced operational challenges, including a strike in Georgia and increased cyber-attacks in Asia, which negatively impacted revenue. Despite these challenges, the company maintained operational capacity by leveraging its network of over 20 studios.

Future Outlook

Looking ahead, Evolution AB expects EBITDA margins to remain around the current level for the final quarter of 2024. The company is focused on expanding its studio network and launching new products to support future growth, with ongoing projects in Brazil and the Philippines.

Summarized from source with an LLMView Source

Key figures

-41.9%1Y

-16.2%3Y

143%5Y

Performance

32.4%1Y

36.2%3Y

44.6%5Y

Volatility