Evolution releases year-end report for 2018
The company reported that operating revenues increased by 38% in 2018 to €245.4 million.
US.- Evolution Gaming has once again reported a successful year, this time by improving operating revenues, EBITDA and profits in 2018. The company also posted good numbers for the fourth quarter, which contributed to the overall results for the year.
Operating revenues in full-year 2018 increased by 38% to €245.4 million, while EBITDA increased by 34% to €107.7 million, up from the €80.6 million registered a year before and corresponding to a margin of 43.9%. Profit for the January-December period also amounted to €83.5 million, and earnings per share amounted to €2.32.
For the fourth quarter of the year operating revenues increased by 38% to €70.2 million, and EBITDA increased by 40% to €31.6 million (corresponding to a margin of 45.0%. Moreover, profit for the period amounted to €25.5 million, while earnings per share amounted to €0.71. This three-month period featured the launch of scalable Infinite Blackjack and the continued expansion in North America.
CEO Martin Carlesund said: “At year-end we had approximately 550 tables live – significantly more than what we had planned at the beginning of 2018. During 2019, we will invest in a new studio in Malta and continue to expand our existing studios to meet the market demand. At the same time, we optimised the expansion from last year, and we expect a slightly strengthened EBITDA margin in the range of 44-46% for the full year.”
“We continue to grow in North America. During the fourth quarter, we went live with several new customers in the US, and just after year-end we also signed an agreement with a second customer in Canada. To further strengthen our position, we have also carried out Evolution’s first-ever acquisition. With the business of Ezugi, we further extend our footprint especially in the US, while also gaining more studio capacity and resources within product development. Another key activity in North America will be to roll out more games; Live Infinite Blackjack is one example that was successfully launched for our European operators in the past quarter.”
Carlesund also explained that among the company’s markets, the Nordics in particular have exhibited favourable growth in the quarter. Rest of Europe also showed positive progress, while the growth in Rest of World was somewhat lower than in previous quarters. As before, the UK market is currently slow as a consequence of the latest regulatory requirements.
“At the publication of this report, this year’s edition of ICE has just taken place, and I am immensely proud of the 10 game titles that Evolution revealed at the show. Our product and development teams have put countless hours into creating games beyond the expected, which lay the foundation for continued long-term growth. The main highlight is MONOPOLY Live, which is an evolved special edition of our successful Dream Catcher. We also launched a live game show based on the popular TV programme Deal or No Deal. Both titles have been developed to take the entire Live Casino category to the next level, expand to new player types and create more commercial value for our operators.”
“Among all the new products, I would also like to highlight our new dice games Lightning Dice and Super Sic Bo. Dice games have a long history and a global attraction, and we confidently look forward to introducing our innovative live versions for our customers. All in all, we can look back at yet another amazing year in the Evolution history with expansion outside Europe and many successes in innovation and created customer value. With a new studio in Malta and all games that will be launched, I am confident that we are in excellent shape to continue increasing our market leadership going forward. In that context, we can also conclude that the first quarter has been off to a good start,” Carlesund said.
