First quarter of 2023 (Q1 2022)
- Operating revenues increased by 31.5% to
EUR 429.6 million (326.8) -
EBITDA increased by 30.7% to
EUR 300.2 million (229.7), corresponding to a margin of 69.9% (70.3) -
Profit for the period amounted to
EUR 251.2 million (197.7) -
Earnings per share before dilution amounted to
EUR 1.18 (0.93)
Comments from CEO
A strong start of the year at Evolution. Revenues increased by 31.5 percent to
The general cost increase and other external challenges remained from 2022, and we continue to address them, every day. We constantly need to find new, better and smarter ways of working to continue to deliver. Be sure that we work hard on this and during the quarter we see an improvement resulting from those efforts. Our priority is always to grow top-line but we strive to do so in a profitable way. For FY 2023, as earlier communicated, we expect EBITDA margin in the 68-71 percent range, and for the first quarter we reported a margin of 69.9 percent, clearly within the communicated range.
As those who have followed us already know, Evolution's focus is always on delivering new, exciting playing experiences to our players. We strive to increase the entertainment factor, create new games not only for existing players but also for new player categories. The demands from future generations of online casino players will be different than today. In our Game show category, we continue to innovate and bring never-before-seen games to the market. During the first quarter we presented two new live game shows, one is Funky Time, a game that builds on concepts from the very popular Crazy Time but also introduces brand new features. The other headline release is ExtraChilli Epic SpinsTM - a game show built around one of our most popular slots games. It is a new way to play slots - I think it's best described as "social slots". You play, chat and win together. Both these games will be launched to players during the second quarter.
We plan to release over 100 games in 2023. In the first quarter we released 18 RNG titles. Our release pattern will be backend loaded to the second half of the year, also 2023. A highlight during the quarter was the launch of our first timed jackpot functionality in parts of
We have high ambitions, and we are acting on a growing market. We are a profitable, strong, all-equity financed company making money at present and we are focused on growing. Hence, we will continue to invest, recruit and push for growth even though we currently face a tougher macro-economic climate. During the first quarter we have continued to invest in many of our existing studios and we continue to plan to start work on 1-2 additional studios during this year.
From this quarter we have made a change in our regional revenue table to better reflect how we work with the different regions. LatAm is a region that has seen a strong development during the past year and we now break it out as a separate region. We also group
From a regional point of view,
As stated, many times before - we always strive to do a little bit better every day, with the ambition to continuously improve our world leading playing experience and further develop our operational excellence. I really want to thank all the employees at Evolution for pushing hard to give us such a strong start to 2023 as well as remind all of you reading this, that Evolution is built out of thousands and thousands of young talents creating all of what I write about in these comments of the first quarter 2023. With that, let me round it off with that I look forward with excitement to the rest of 2023.
For further information, please contact:
This information is such that
Presentation for investors, analysts and the media
CEO
Number for participation by telephone:
SE: +46 8 505 163 86
Pin code: 2488371#
Follow the presentation: https://ir.financialhearings.com/evolution-q1-2023
Evolution is licensed and regulated by the
https://news.cision.com/evolution/r/evolution--interim-report-january-march-2023,c3759175
https://mb.cision.com/Main/12069/3759175/2015369.pdf
(c) 2023 Cision. All rights reserved., source