Evolution nearly doubles its financial figures in 2020
Evolution revealed its year-end report 2020 and showed figures that nearly doubled 2019’s revenue, profit, and more.
Press release.- After going through a very unusual year in 2020, Evolution finally revealed its year-end report and showed it performed pretty well.
The company saw operating revenues increase by 53 per cent to €561.1 million (365.8 in 2019), EBITDA adjusted for non-recurring items amounted to EUR 351,6 million (182,9 in 2019), an increase with 92%, for a margin of 62,7% (50,0 in 2019), while EBITDA increased by 82% to EUR 332.2 million (182.9), corresponding to a margin of 59.2% (50.0).
Also, profit for the period amounted to €284.6 million (149.7) and earnings per share amounted to EUR 1.55 (0.83).
The Board proposes a dividend of EUR 0.68 per share (0.42), while non-recurring acquisition and restructuring costs amounted to EUR 19.4 million.
CEO Martin Carlesund said: “We end an eventful 2020 on a high note with a quarter that marks a significant step forward for Evolution. Through the acquisition of NetEnt, we add a second vertical to our unrivalled Live Casino offer and two strong and fantastic new brands to our product portfolio. This makes us well-placed for our long-term ambition of taking a leading global position in online casino. With a strong market penetration in Live Casino and Slots across North America, Asia and Europe as our platform, we remain committed to creating the best gaming experience for every single user in both verticals. I am excited about what lies ahead for 2021 when we will continue to increase the gap to the competition.”
He also added: “Since the day of the closure, I look at Evolution as one company with multiple strong products and brands. We acquired NetEnt because we believe that we together can create something great. To maximise the potential of this acquisition it was essential that we discarded existing structures and rapidly rebuild ourselves in a joint version. We were well prepared before the take-over and started the execution on day one. In the first month following the closure, we completed the planned integration. We will achieve approximately EUR 40 million of annual run-rate cost synergies which is 10 million more than earlier communicated. This effect will happen gradually during the two first quarters of 2021, about 6-9 months earlier compared to the pre-deal announcement.
“In the years to come, we will continue to take advantage of the ongoing market regulation to strengthen our world-leading position in Live Casino and secure the continuous expansion of our Slots business into new markets while exploring additional product opportunities combining Live and RNG. With the competence and experience from both organisations now in one group, we will leverage our joint innovative capabilities and the common conviction that product innovation is the key to success.”
