Evolution Q1 results show growth in all geographical regions

All financial segments of the business underline a positive outlook. 

geography
Listen To Article

Evolution has released its financial figures for the first quarter of 2024, continuing on from a positive 2023 with a strong start to the new year. 

Operating revenue showed the largest growth across the main financial segments, going up by 16.7% year-on-year, to a figure of €501.5m ($535.9m). 

Of this revenue, €431.3m came from live casino and €70.1m came from RNG games, both of which represented increases from the first quarter of 2023, live casino specifically rising by 19.8%. Though RNG only increased slightly, it is up from the last quarter, which had suffered a decrease. 

Looking at EBITDA, this was valued at €345.8m in Q1 2024, climbing up 15.2% from the same period last year, and the EBITDA margin was 69%. 

Profit during the period reached €269.2m, increasing 7.2% year-on-year. Operating profit was valued at €311.6m during the quarter with the operating margin set at 62.1%. 

Evolution CEO Martin Carlesund gave some thoughts on the results: “Although a strong start to the new year, much remains to be done to fully leverage our position in the market and serve the underlying demand. 

“Our products have a global audience and in the first quarter we see growth both compared to the previous quarter and the first quarter 2023 across all regions.

“Evolution is a growing, strong, profitable, all-equity funded company – in recent years our solid financial position has enabled us to remain focused on growth through periods of geopolitical uncertainty, a pandemic and rapid increases in interest rates.” 

In recent news, Evolution announced a partnership with Rush Street Interactive (RSI) to bring its online slots to Delaware’s casinos, marking its entry into the US state. 


Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Flutter
Galaxy Gaming
Churchill Downs Incorporated
Oddsworks
Follow Us

Global Gaming Awards Asia-Pacific: Going live

The Global Gaming Awards Asia-Pacific are set for their firs...

Preview: SiGMA Asia 2024

SiGMA’s annual Asia summit comes back to Manila – signif...

Company profile: Praxis Tech

Being payments ready in Asia - A call to action for iGaming...