Evolution Releases 2022 H1 Interim Report – Revenue Up 36.2%

Evolution releases 2022 H1 Interim Report that reveals massive profit, revenue, and EBITDA increases for 2022 compared to 2021. (Image from @evo_Global)

Evolution, the undisputed top dog of the live casino arena, has posted its interim report for Q2 and H1 of 2022 and it is clear that the company and its subsidiaries are continuing to ascend. The company has reported massive gains in terms of profits, revenues, and EBITDA across the first six months of 2022.

Below, we will delve a little deeper into the report of Evolution, a company that also owns brands such as NetEnt, Ezugi, Red Tiger Gaming, Big Time Gaming, and its soon-to-be most recent acquisition, NoLimit City. We look at the financial performance of the company compared to H2 and Q2 of 2021.

A Quick Glance at the H1 2022 Performance Compared to H1 2021

It is clear that Evolution has done what it usually does, and that is to get things right. The interim report provides the financials of the company in the first six months of 2022 (H1) compared to the same period in 2021. The biggest highlight is a 36.2% increase in operating profits to €670 million for the first six months of 2022 compared to the same period in 2021. EBIDTA during the same period has increased 39.8% to €467 million while operating profit has increased a massive 41.7% to €421 million.

In the 2022 H1 Interim report, Evolution’s CEO, Martin Carlesund, gives a lengthy statement about the company’s performance in the first half of 2022. However, he sums it up nicely by describing the firm’s performance in Q2 of 2022 as “nothing but fantastic”.

How Evolution Performed in Q2 of 2022 Compared to Q2 in 2021

The second quarter of 2022 has seen Evolution release exciting new live titles such as XXXtreme Lightning Roulette, Gold Bar Roulette, and a first live slot, Crazy Coin Flip. The company also started the process of purchasing NoLimit City, a hugely popular slot developer, for €340 million. Evolution also continued its expansion across many iGaming markets and opened live casino studios in Connecticut, Spain, and Armenia.

All of that is further evidence of a company that is continually growing, expanding, and not resting on its laurels. This is shown in the Q2 results 2022 compared to those recorded in Q2 of 2021.

Between April 1 and the end of June 2022, Evolution recorded a 34% increase in operating revenues up to €344 million. Similarly, EBITDA increased 36.4% to €174 million for the same period. Profit also increased to €200 million (39.1%). These are all considerable increases, but it is important to understand the changes in the effect of the COVID-19 pandemic that have taken place in the time between the two periods. As much as this strong H2 and Q2 performance is, the impact of the pandemic was far greater during this period last year.

That said, this is obviously great news for Evolution and for fans of live casino games too. We get to enjoy the fruits of the leading live supplier’s success through the innovative and entertaining live casino games that will surely come in the next weeks, months, and years!

At the end of his statement, Carlesund looks towards the second half of 2022 with anticipation. He states, “I am looking forward to the second half of the year without doubt. We’re excited to see how we can get better, deliver more, and to do it all faster than ever before. That is who Evolution is and how we operate”