Martin Carlesund, Evolution's CEO, reported the company’s revenue from slot content went up by 28.2% in Q2. More corporate data was also revealed to the public.
Total Progress Overview
Martin Carlesund highlighted the annual uprising revenue and net profit. It broke the EBİTDA margin, corporate earnings before excluding tax, interest depreciation, and amortisation, in Q2.
Despite the impressive performance, the company can do even better. The progress in slots revealed the possible areas of improvement. Thus, RNG operations are an area that requires functional transformations, which might lead to dynamic growth.
The financial data from Q2:
- Total business revenue during Q2 reached € 441.1 million, compared to € 344.0 million in the same quarter in 2022.
- Live casino profit made up € 371.8 million, mainly due to higher commission charges.
- RNG operations amounted to € 69.3 million.
Releases like Funky Time and modifications of classics determined the stable market demand. The solid product offering encourages more players to access Evolution’s content.
Martin Carlesund signified that 40% of all revenue was made in legal markets, a slight decline from Q2 of 2022. He mentioned the dominance of Europe as the primary distribution area. Regional products and services brought € 175.2 million in Q2. It was the largest share in operating locations.
Here are financial results across the world:
- Asia — € 164.5 million;
- North America — € 55.5 million;
- Latin America — € 31.3 million;
- other markets — € 14.6 million.
Total operating expenses turned out to be € 159.6 million, 23.3% higher than the previous year. The cost across all areas amounted to € 87.5 million. These costs were involved in Evolution’s strategic plan. So far, the company has managed spending accurately. It was not an easy thing to do due to increasing prices, which influenced operations.
Half-Year Growth
The first 6 months brought € 870.6 million to the owners. It was reported as a 29.8% growth compared to the previous year. The live dealer content became the major contributor with a € 731.9 million profit. The RNG’s share covered € 138.7 million.
Operating costs went up by 27.5% and made up € 317.7 million. The profit before deducting € 37.8 million in taxes covered € 553.1 million. Thus, the net income brought € 515.2 million, an increase of 29.3%. The EBITDA margin hit € 611.9 million, contributing to the growth trend.
Evolution’s representative revealed the company’s strong financial standing based on special terms. The latter offers the lowest dividend of 50% of net profit with long-term investments in tech innovations. That is how the software developer improves the iGaming content and user experience. With almost 18,000 specialists employed, there is a constant search for modern entertainment solutions.
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