Evolution boasts 105% increase in operating revenue for Q1

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Evolution boasts 105% increase in operating revenue for Q1

Industry giant Evolution’s operating revenue shot up by 105% for Q1 2021 to €235.8m ($284.7m) from the €115.1m gained in the first quarter of 2020.

The supplier’s operating profit for Q1 this year increased 148% year-on-year to €141.6m.

EBITDA also rose to €160.1m, a 150% year-on-year rise; 2021’s EBITDA corresponded to a margin of 67.9%.

Profit for the first quarter reached €132m, up from Q1 2020’s profit of €54.2m. This meant the profit margin increased to 56.0% from 47.1% and earnings per share before dilution amounted to €0.62.

During this period, the company also completed a synergy project which successfully integrated NetEnt, after Evolution acquired the company late last year.

CEO of Evolution, Martin Carlesund, said: “The positive trend from 2020 continues into the first quarter of 2021 where we see a good momentum both in terms of growth and profitability.

“The integration of NetEnt has been successful. I am truly impressed by the work from our teams, who, without losing focus on the daily high-quality delivery, and in a very short time, have managed to merge both workflows and organisational structure.

“We can already see good results from this work in the first quarter and I believe we are well-set to continue to capitalise on the growing interest in online casino worldwide.”