Evolution operating revenues up 97% for Q3
The results correspond to the third quarter of 2021 and to a balance that goes from the same period of the previous year.
Press release.- Evolution today presented its interim report. The main data that stand out for each period are the following:
Third quarter of 2021 (Q3 2020)
- Operating revenues increased by 97 per cent to EUR 276.0 million (140.0)
- EBITDA increased by 113 per cent to EUR 192.9 million (90.7), corresponding to a margin of 69.9 per cent (64.8)
- Profit for the period amounted to EUR 157.4 million (79.4)
- Earnings per share amounted to EUR 0.73 (0.44)
January-September 2021 (9M 2020)
- Operating revenues increased by 100 per cent to EUR 768.5 million (383.5)
- EBITDA increased by 124 per cent to EUR 527.7 million (236.0), corresponding to a margin of 68.7 per cent (61.5)
- Profit for the period amounted to EUR 433.9 million (204.0)
- Earnings per share amounted to EUR 2.03 (1.12)
Events during the third quarter of 2021
- High demand for Live Casino generates a +53 per cent growth YoY
- RNG revenue growth 7.9 per cent compared to pro-forma Q3 2020
- Continued expansion in the US with opening of a new live casino studio in Michigan. After the end of the period launch of RNG-games in Connecticut with live games to follow.
Analysis
The CEO Martin Carlesund commented: “The third quarter this year has been another quarter of extremely high activity within Evolution. The result has once again proven that our strategy to focus on the entertainment of the end-users and seamless and flawless experience is successful”.
Revenues in the third quarter increased by 97 percent to EUR 276 million, while the EBITDA increased to EUR 192.9 million. Top-line growth is driven by very strong global demand for Live Casino but also impacted positively from our increased RNG business.
Carlesund explained: “We are in the process of reshaping our RNG business. This year we have both re-structured the product roadmap and also re-built the complete technical platform for NetEnt. We are right now rolling out our updated integration for casino, One Stop Shop (OSS), towards customers which enables operators to reach all our existing content from one single integration and ensures that access to future Evolution content will go seamless and fast world-wide.”
See also: Evolution and Ontario Lottery and Gaming Corporation launch online live casino
Evolution continued to develop the portfolio of games. While its game shows, including successful wheelbased games such as Monopoly Live and Crazy Time, continue to attract players, the company continue to broaden the audience for the game show category” he added.
“The North American online casino market continues to develop rapidly in both US and Canada. In Michigan, where we introduced our portfolio of NetEnt games in the beginning of the year, we launched our live casino in the beginning of the quarter. Ongoing studio projects include new studios in Madrid and Yerevan. This quarter, a lot of business focus has been centred around investing and establishing new studios.”
Also, during the past quarter, Evolution signed an agreement to acquire DigiWheel in an all-cash deal. “DigiWheel’s technology is exciting, innovative and unique and will be blended into our online Live Casino games and game shows. The ambition is to launch new games” said the CEO.
