Evolution Interim Q1 Financial Report

In a roundup of the Evolution Interim Q1 Financial Report, there have been extensive gains across the brand in the first quarter of 2022 (Image from Scott Graham at pixabay.com)

Live casino provider, Evolution, has released its interim financial report for the first quarter of 2022. The figures are encouraging, and they could provide a strong platform for the year ahead. There are notable figures in the report, with double-digit percentage increases in all of the key areas when compared to the same period in 2021.

Revenues for the Quarter Are Up – Live Casino the Driving Force Behind Sales

Looking at the financial reports, Evolution will have even more confidence in its products, after it was revealed that operating revenues have increased by over 36% compared to last year.

Between the months of January and March 2022, Evolution recorded operating revenue figures of EUR 326.767 million. For the same period in 2021, that figure stood at EUR 235.841 million, which translates as a gain of over 36% year on year.

Giving Staff Credit Where it is Due: Martin Carlesund, CEO at Evolution went on record as saying it was the high demand for its Live Casino product that has helped to push sales even harder this year. He then spoke about EBITDA being up over 43% year on year, corresponding to a 70.3% EBITDA margin. Carlesund gave a special mention to all of the employees at Evolution for having produced yet another solid quarter.

A Higher Equity Per Share in 2022 – Evolution Investors Recognising Growth Potential

When it boils down to it, hard profit is what stabilizes a company and gives it the ammunition it needs to develop. Evolution managed a respectable EUR 132.038 million in profit from January to March in 2021, but that has been eclipsed this year, as between the same months, Evolution recorded profits of EUR 197.689 million. The percentage growth is a pretty remarkable 49%.

From January to March in 2021, the equity per share was EUR 13.31 but has since increased to EUR 15.45, leaving investors to recognise the growth of the market and the capabilities of the brand to meet demand. Evolution is constantly spreading its wings, and branching out into more markets to further its growth, for instance when Evolution recently partnered with BetMGM to open a live dealer studio in Ontario.

Martin Carlesund commented on this, saying that at Evolution, launching exciting new games is the backbone of the company. The Evolution mission is to create innovative new games that produce a fantastic experience for the user. Carlesund believes that players appreciate new games and respond to that by showing loyalty to the brand, but also, new games are a proven way to attract new players. Attracting new players could open up opportunities to branch into new categories, Carlesund added. The CEO used this quarter as an example, highlighting recent releases like Bac BO, and Peek Baccarat. When considering the Evolution live casino content as well as the RNG games, Carlesund believes that this is a particularly exciting time for the brand.

No Plans to Slow Down as Further Growth Expected – Madrid and Connecticut Already Penciled in to Expansion Plans

Evolution has cemented plans that will see the brand expand further, which will probably see financial reports later in the year even better than Q1. Evolution is in its final stages of the Madrid studio, with tables now just opening. The Go-Live studio will strengthen the Evolution presence in Europe even further. Additionally, Connecticut is the next studio to be opened up in 2022, as North America has been targeted as one of the key markets for future growth. Martin Carlesund admits that Evolution learned a valuable lesson during the pandemic, and that was not to rely on any one studio. On top of the formerly mentioned, there are plans to open a studio in the Armenian capital of Yerevan, which will give the Evolution network even more capacity.

Evolution Results Encouraging: Although it might be early in the year, the official Evolution financial results for Q1 are encouraging. Evolution now plans to expand into new areas across the globe, meaning that this could be a landmark year for the company.

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