Evolution shares financial report

Evolution Gaming publishes its complete report on 2017’s operations at international level.

Latvia.- Evolution Gaming has released its 2017 financial report, showing a very successful year. Last year, operating revenues increased by 54 per cent to €178.4 million, whilst EBITDA increased by 81 per cent to €80.6 million, corresponding to a margin of 45.2 per cent. Meanwhile, profit for the period amounted to €62.1 million and earnings per share amounted to €1.73. Also, the Board proposes a dividend of €0.90 per share.

“I am happy to summarise 2017 with continued strong growth and profitability,” said Evolution Gaming’s CEO and President, Martin Carlesund. “Revenues amounted to €50.7 million, corresponding to an increase of 48 per cent compared with the fourth quarter of 2016. EBITDA amounted to €22.6 million, with a margin of 44.6 per cent. The quarter was characterised by intense expansion at our studios, resulting in increased cost levels compared with the third quarter. The company is in the midst of an investment phase, and we expect this to continue to drive costs during the first half of 2018. Looking at the margin, it will vary somewhat from quarter to quarter, although we have, at the same time, established a clearly higher level of profitability compared with Evolution’s historical average – for the full-year, the EBITDA margin was just above 45 per cent.”

Carlesund concluded: “Looking back on 2017, it’s easy to say that it was an exceptional year in many ways. But that does not give us reason to take anything for granted – on the contrary, we must continue to work hard every day to maintain our position in the market. On the whole, with new studios and exciting product launches on the cards, we see good prospects to continue strengthening our business in 2018, with a clear focus on profitable growth.”