Evolution has revealed its interim results for the first quarter of 2025, with the company enjoying robust performance across its core product vertical but experiencing minor headwinds in other areas.
Evolution posts solid results in Q1 2025
Net revenues for the company hit €520.9m, but EBITDA registered a small drop of 1.1% to €342m. Profit for the period surged to €254.7m, however, and earnings per share before dilution were set at €1.24 in the latest company report shared on its website.
Among the noteworthy events during the quarter were self-initiated actions to ring-fence regulated markets in Europe, as well as the launch of a second studio in Romania, as well as a third studio in New Jersey, the United States.
The company also embarked on a share repurchase program, bolstered by an optimistic outlook for its overall performance.
Despite this, Evolution CEO Martin Carlesund outlined some of the current challenges that remained for the company to address, including ongoing cybersecurity issues in Asia, which have forced the company to execute counter measures to crack down on criminal activity but have impeded growth in the process.
Carlesund said that it was pursuing self-initiated actions in regulated markets such as the United Kingdom to ensure that the company is compliant with regulatory standards. Carlesund touched on other outstanding issues, including channelization:
"However, it is important to remember that channelization is primarily dependent on factors outside of our control, i.e. the ways in which the regulatory parameters are structured. To create a long-term sustainable regulatory environment in which the end-users are protected while also having an entertaining gaming experience is a balance of those parameters."
However, Carlesund did not hesitate to call regulation a positive that helps attract and retain new end-users over time.
Cybersecurity issues in Asia test company resilience
He similarly cautioned about regulations overreaching. Then, Carlesund touched on the company’s upcoming roadmap, which he said was one of it strongest with 110 new planned releases. Among the games released over the past months were Race Track, War, Fireball Roulette and Marble Race.
The Live Casino segment continued to perform and do well for the company, going up 4%. As to the RNG portfolio, the segment generated growth for the company – up 3% year-over-year. Despite regional issues in Asia, however, the region brought in €201.9m, a very slight contraction in its results, and mostly occasioned due to the ongoing cybersecurity issues, and demonstrating Evolution’s resilience in the face of adversity.
Most recently, Evolution was able to partially unearth the identity of the entity – or rather the people - behind a damning report that sent its stock plummeting 2021 but have so far been proven unsubstantial and erroneous.
