Q1 Report
Industry giant Evolution has reported an extremely strong start to 2024. The company has reported operational revenue of €501.5m ($534.3m/£429.9m) for Q1 2024, a 16.7% increase from the previous year at €429.6m.
Growth Across All Regions
The reported figures are extremely positive for Evolution. EBIDTA was also up at €345.8m, with a margin of 69.9%. This was 15% higher than it was in Q1 of 2023 and was also 2.6% higher than in Q4 of 2023.
The company’s total profit for the quarter was €269.2m. This was slightly down on the previous quarter, where profit was at €282.9m. There was also a drop in earnings per share from €1.31 to €1.27.
The company’s chief executive Martin Carlesun was extremely positive about the company’s Q1 performance. He said that the company had seen growth across all regions, and that there was stable organic growth in Europe, as well as ‘very robust’ growth in Asia. The company also reported significant growth in the LatAm market, and it has one eye on the soon-to-open Brazilian market in the region.
Carlesun added that Evolution’s strong financial position had enabled the company to continue to grow through periods of geopolitical uncertainty, the Covid-19 pandemic, and rapid increases in interest rates.
A Strong 2024
Evolution will be hoping to build on its promising start to the year. The company is one of the biggest in the iGaming industry, and is often seen as the measuring stick by which all other live casino operators are measured.
The company does not intend to slow down any time soon. There are plans for four new studios to be opened throughout 2024, with the company also looking to significantly increase its production of RNG titles, of which it has already produced 20 this year.
