Evolution experienced near 30% revenue increase in Q2

Added: July 21, 2023

Evolution has recently published its latest financial performance analysis covering the second quarter of the year.

The developer’s operating revenue was recorded at 441 million euros, which is just over 28% higher than its 343 million euro revenue figure recorded in the same period last year. This also led to an increase in the company’s EBITDA, which went up by almost 31% from 238 million euros to 311 million euros. Its EBITDA margin, meanwhile went from 69.3% to 70.7%, which set a new EBITDA margin record for the developer.

Evolution’s operating profit increased by a slightly higher margin of 31.2%, going from 214 million euros to 281 million. The firm’s net profit, on the other hand, went from 200 million euros to 264 million euros in the quarter.

Additionally, the company’s performance in the year’s first half showed a similar growth trajectory, with its revenue growing by almost 30% to 870 million euros. Its EBITDA, and net profit figures increased by a similar percentage and are now sitting at 611 million euros and 552 million euros respectively.

Evolution’s positive results mainly originated from the growth of its key live dealer offerings, which represent 84% of the company’s revenue and increased by more than 33% in the period.

Evolution