Evolution revenue up 48% for Q3

By Owain Flanders

Gaming supplier Evolution saw revenue of €140m ($165.9m) for the third quarter of 2020, a rise of 48% year-on-year.

EBITDA for the period was €90.7m, an increase of 87% and corresponding to a margin of 64.8%.

Meanwhile, profit for the period was €79.4m, an increase of 100% from 2019 levels.

For the first three quarters of the year, ending September 2020, operating revenue also increased by 48% to a total of €383.5m.

EBITDA for the three quarters was €235.9m, up 86% year-on-year, while profit amounted to €204m, up 98%.

Although Evolution CEO Martin Carlesund said the company is still dealing with restrictions imposed by COVID, he described the quarter as “a period of exceptionally high activity operationally.” Q3 saw the supplier go live with its tables in Pennsylvania in the US and Kaunas in Lithuania.

The quarter also saw Evolution launch a number of games and invest in additional studio space, most recently in a studio in Lithuania.

Looking towards Q4, Carlesund expressed his excitement at the upcoming NetEnt merger. He said: “We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe.

“We will continue to work relentlessly on all fronts to continue to better every single day.”

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