Evolution’s revenue is 20% higher than the previous year. Nonetheless, growth is modest, and RNG declined in the third quarter. According to the most recent financials made available by Evolution, the company’s Q3 revenue is €452.6 million. For the same period, the profit is €282.8 million. The RNG division has decreased by 2% year-over-year.
The operating revenue is up from €378.5 million, a number from the third quarter of the previous year. Numbers can be broken down as follows:
- Revenue from the live casino division = €385.8 million
- Revenue from RNG = €66.8 million
The stat for the live casino division has risen from €310.4 million, while RNG, that is, Random Number Generator, has slipped by €1.3 million. By the looks of it, specifically for RNG, it is safe to assume that the previous year’s third quarter was its best in the last 3 years, including 2023. Martin Carlesund, the Chief Executive Officer of Evolution, has disagreed that a fallen RNG is a bad picture.
Martin has instead stated that there have been considerable advancements in their RNG operations despite a setback in terms of YoY growth. The CEO believes the live casino department can still do better. They have stated that there is a higher demand for their product than what they currently deliver.
There is a bad side to that optimistic imagination. Martin has laid down an alternative fact: there is a chance that the company is not actually expanding its studios at the right pace. Meaning, it is expanding slower at a time when it should be moving the mountains a little faster. There is also a dire need to increase the speed at which they hire team members for their existing and supporting studios.
Operating revenue for Evolution has gone up since 2019. This includes the time when there were problems with the COVID-19 pandemic and restrictions like lockdowns. The following year marked slower growth, with the number getting restricted to less than €200 million. It was soon followed by approximately €300 million in 2021, surpassing the milestone of €400 million in 2023.
According to the latest casino news, The EBITDA margin of Evolution has increased by 1% from 69% in Q3-2022. The current percentage is 70%, and the total amount is €318.6 million. This represents a 22% increase when compared year-over-year.
Profits are up by 23% to €272.8 million. This marks the highest number that the company has achieved during its season for the third quarter. However, the largest historic increase was 100 percent when the brand transitioned from Q3 2019 to Q3 2020. The following year nearly bagged a similar number in its third quarter, missing it by just 2%.
Share prices for Evolution were last seen at $85. Its market capitalization is approximately SEK 213.02 billion.