Evolution’s Strong Q4 and 2023 Results Signal Continued Success

Evolution, a top supplier of technology and solutions for the global gambling and betting industry, recently unveiled its performance for the fourth quarter and full year of 2023. According to the company’s financial update released on Thursday, there was significant growth in operating revenues, EBITDA, and operating profit.

In the fourth quarter of 2023, Evolution saw its operating revenues reach €475.3 million ($513.9 million), marking a 16.6% increase compared to the same period in 2022. Similarly, the EBITDA for the quarter increased by 20.5% to €337 million ($364.3 million), and the operating profit rose by 21% to €302.6 million ($327.1 million). The profit also increased by 26.6%, along with the profit margin, which grew to 59.5%.

Looking at the full year of 2023, Evolution’s operating revenues increased to €1.8 billion ($1.94 billion), a 23.5% jump from 2022. The EBITDA for the year increased by 25.7%, the operating profit grew by 25.8%, and the profit for the period increased by 27%.

Martin Carlesund, the CEO of Evolution, expressed his excitement about the latest figures, highlighting the outstanding growth in EBITDA and revenue for the fourth quarter of 2023. He also mentioned that the company “finished the year operationally very well” and released 110 new games throughout 2023, surpassing its goal of 100 titles.

Carlesund also acknowledged the strong RNG and Live Casino revenues for the fourth quarter of 2023, as well as the company’s strong presence in the online gambling market in North America. He emphasized the focus on delivering new engaging titles for players in the United States. In Europe, Evolution saw approximately 10% year-over-year growth for the second quarter in a row, and the company anticipates further expansion on the continent. Carlesund also mentioned the importance of the gambling markets in Asia and Latin America.

Overall, Evolution’s latest financial update indicates a strong performance and continued growth across its key markets, setting a positive outlook for the company in the global gambling and betting industry.