Evolution shows strength in interim January-June 2023 report

Evolution AB, one of the world’s largest gambling companies, has published its interim report for the first half of the year, covering the period between January and June 2023. The report focused on the important events of the second quarter of the year, covering the period April-June, as well as the first six months of 2023.

Operating revenue for H1 2022 (in this case meaning the period between January and June 2023) stood at €870.6m with EBITDA set at €611.9m and profit for the period at €515.2m. The company achieved the highest EBITDA-margin reported in a single quarter in Q2 2022 (April-June 2023), standing at €311.7m.

In Q2 2022, the company also managed to roll out its newest live casino title, Funky Time, and Evolution successfully completed the construction of new live casino studios in Latin America, where the company is determined to continue growing and expanding its offer. Evolution CEO Martin Carlesund has welcomed the results as part of an official comment to the report.

He hailed the strong results the company has achieved and driven over the past months, but remained cautious that there could still be more that Evolution could be doing in order to drive even stronger performances across the board. Carlesund specifically spoke about the RNG operations which he said were still below the double-digit growth target the company had set for the vertical.

The vertical was also down from last year but was stable quarter-over-quarter in 2023. He called the RNG segment a highly profitable business opportunity and a sector that Evolution will be focusing on more seriously moving forward. Carlesund said that the RNG roadmap would be busier in the second half of the year with the target for new releases being 100 games, but that also includes the number of live games.

Carlesund said that the 2023’s roadmap was the strongest in terms of new releases to date for the company, but that 2024 should bring even more exciting opportunities. He spoke of other important milestones, including the launch of live craps in Michigan and noted that Evolution was already live with the popular dice game in four states in the country.

He also said that the company felt confident about its Latin American prospects as Evolution was continuing to add new players from the region and the company has started to expand with small studios in Argentina and Columbia. Cash position remained strong, Carlesund added, and said that the company was now approaching 18,000 employees.

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