Evolution Reports Strong Growth in First Quarter 2024

Evolution AB (publ) has reported a successful first quarter of 2024, with notable growth across key financial indicators. Operating revenues saw a substantial increase of 16.7% to EUR 501.5 million, accompanied by a 15.2% rise in EBITDA to EUR 345.8 million. The company maintained a strong EBITDA margin of 69.0% during this period.

Events during the quarter included continuous capacity increases in tables and employees, as well as robust growth and momentum in all geographical regions served by Evolution. Additionally, a repurchase program was successfully completed, resulting in the acquisition of 3,648,247 shares.

The CEO's comments highlighted the significant revenue growth in the Live Casino segment, which increased by 19.8% year-on-year. Revenue from RNG games also showed improvement, reaching EUR 70.1 million in the quarter. Evolution continues to enhance its RNG business through AI integration and operational efficiency enhancements.

Overall, Evolution AB (publ) remains a leading B2B provider in the online casino industry, driving innovation and growth with a strong focus on customer satisfaction and market excellence.