Second quarter of 2023 (Q2 2022)
- Operating revenues increased by 28.2% to
EUR 441.1 million (344.0) -
EBITDA increased by 30.8% to
EUR 311.7 million (238.2), corresponding to a margin of 70.7% (69.3) -
Profit for the period amounted to
EUR 264.1 million (200.9) -
Earnings per share amounted to
EUR 1.24 (0.94)
January-
- Operating revenues increased by 29.8% to
EUR 870.6 million (670.7) -
EBITDA increased by 30.8% to
EUR 611.9 million (467.9), corresponding to a margin of 70.3% (69.8) -
Profit for the period amounted to
EUR 515.2 million (398.6) -
Earnings per share amounted to
EUR 2.41 (1.87)
Comments from CEO
During the second quarter of 2023 we continued to deliver good results, with top line growth of 28.2 percent to
We have made a lot of progress in our RNG operations during the period. At the end of the quarter, we are up to speed with our game release plan. Our RNG business has revenue of
Our ambition is, as always, to manage our costs in an optimal way to deliver good performance and profitability. We report a strong EBITDA margin of 70.7 percent in the second quarter, well within the earlier communicated range of 68-71 percent for the full year 2023. We have managed the external challenges increasing our total cost level very well during the first part of 2023. Price increases are still affecting our operations and we do our outmost to limit the impact and constantly increase efficiency in supporting growth.
Funky Time, that we showcased in Q1, was launched as planned in Q2. Funky Time adds to our portfolio of unique game shows, it is the largest and most complex game we've ever created mixing RNG and Live game elements as well as animated characters and live video. It is a very innovative and entertaining game with a fantastic retro club ambience. We see large numbers of new players continuously taking on to the game and it has good traction. Our release schedule for Live games is tilted toward the second half of the year and we have many exciting releases planned. Also our RNG roadmap is busier during the second half of the year, all according to plan, and in line with the 2023 target of more than 100 games in total (including Live games). This year's roadmap is our strongest ever and we are planning for an even more exciting roadmap 2024.
We continue to see long-term growth opportunities in all Regions. In
We have a very strong financial position and our cash flow generation continues to support our dividend policy (of distributing a minimum dividend of 50 percent of net profit over time) and investments in people and innovation now and going forward. As an all-equity financed, profitable company, we are focused on growth and therefore we will continue to invest and push for growth even though we currently face a tougher macro-economic climate than last year. During the second quarter we have continued to expand and invest in our existing studios, and also plan for new locations.
New titles and constantly improving the playing experience in our existing games is an important cornerstone in our ambition to deliver growth. Securing long-term quality in combination with the fact that we always want to do more and better, this is our mind-set and the reason why we can expand our gap to competition also in challenging times. We will continue to invest for growth, to try new solutions - sometimes fail - but always strive to be better, every single day. Together with the soon 18,000 people at Evolution, I look forward to the second half of 2023 with great enthusiasm.
Presentation for investors, analysts and the media
CEO
Dial-in number, Pin code: 6020822#
SWE: +46-8-5051-6386
US: +1-412-317-6300
Follow the presentation online: https://ir.financialhearings.com/evolution-q2-2023
For further information, please contact:
This information is such that
Evolution is licensed and regulated by the
https://news.cision.com/evolution/r/evolution--interim-report-january-june-2023,c3808042
https://mb.cision.com/Main/12069/3808042/2198672.pdf
(c) 2023 Cision. All rights reserved., source