Thursday May 7,2015 : EVOLUTION GAMING POSTS INTERIM REPORT
Revenues, operating profit and EBITDA all up.
Live dealer provider Evolution Gaming has published its first interim report since publicly listing, showcasing growth in revenues, operating profit and EBITDA.
The company said that its recent deal with Pokerstars enabled it to boost revenues 43 percent y-o-y to Euro 15.4 million in its first quarter 2015.
Adjusted EBITDA grew 95 percent to Euro 6.2 million (Q1-2014: Euro 3.2 million) with margin at 39.9 percent, and adjusted operating profit up 117 percent y-o-y at almost Euro 5 million. Adjusted operating margin was 32 percent during the reporting period.
Evolution reported adjusted profit of Euro 4.6 million (Q1-2014: Euro 2.1 million), with adjusted profit margin of 29.6 percent.
In January the company completed a restructuring initiative and the establishment of a new parent company – Evolution Gaming Group AB, as part of the preparations for its successful listing on NASDAQ First North Premier in Stockholm in March this year.
Management reported that significant market demand for Evolution products continued in the quarter, and that the company improved its mobile offering and launched new games; 20 percent of Evolution revenues were generated from the mobile channel, Management said.
The Pokerstars deal was a major boost for the company, with the poker giant the first licensee to go live with the Evolution’s Immersive Lite, an HD multi-camera studio installation.
Evolution CEO Jens von Bahr reported that the company has secured a full UK Gambling Commission licence.