Evolution Gaming: Interim Report January-March 2015
First quarter of 2015 (Q1 2014)
- Revenues increased by 43% to EUR 15.4 million (10.8)
- Profit for the period amounted to EUR 1.4 million (2.1)
- Earnings per share amounted to EUR 0.04 (0.06)
- Non-recurring expenses for the IPO amounted to EUR 4.0 million
- Excluding non-recurring expenses, EBITDA amounted to EUR 6.2 million (3.2), corresponding to a margin of 40% (29)
Events during the first quarter of 2015
- PokerStars went live with an extensive and dedicated environment
- Evolution granted a Combined Remote Operating Licence from the UK Gambling Commission
- Successful listing on the Nasdaq First North Premier exchange
CEO Jens von Bahr comments the quarter:
The positive trend in revenues and profit that began last year has continued into 2015. The year commenced very strongly, with both revenues and profits being Evolution’s best to date for an individual quarter. Excluding non-recurring expenses for the IPO, EBITDA amounted to EUR 6.2 million, corresponding to a margin of 40 percent. The outcome thus exceeded our objective of 35 percent for the medium to long term. The trend is primarily attributable to good growth in our existing customer portfolio, driven by, among other things, new games and increased mobile gaming. In the first quarter, 20 percent of the operators’ gaming revenues via the Evolution platform were generated by mobile devices.
New customers are also contributing to growth. In March, PokerStars went live with dedicated environments in Evolution’s studios in Latvia and Malta. They also offer Live Roulette for the Spanish market through our on-premise studio at the Gran Casino in Murcia. From the outset, the combined installation has been the largest to date for an operator at Evolution. PokerStars thus shows considerable confidence in the future potential of the Live Casino market in Europe.
PokerStars is also the first licensee to go live with our new game derivative Immersive Lite, a variant of our award-winning Immersive Roulette. As in Immersive Roulette, end users can enjoy a dynamic and fun gaming experience thanks to HD video, close-up views and multiple angles. However, with Immersive Lite, the environment can be fully customised to the operators’ needs. Several additional operators have already expressed interest in their own Lite installations during the year.
In November last year, the United Kingdom introduced new regulation for the gaming market and, on 25 March, following an extensive application process, Evolution was granted a permanent licence to offer services in that market. The UK is Europe’s largest gaming market and represents an important component in Evolution’s further development with regard to both the potential of existing customers and, in the long term, new customers.
This is our first interim report since the company was listed on the First North Premier exchange in March. During the listing process, Evolution was met with great interest and we look forward to building on our new shareholders’ confidence. We continue to work with a clear focus on growth and on strengthening our leading position in the market. The conditions for Live Casino have never been as good as they are today – technological advances, new games and channels, as well as major ventures by operators, pave the way for continued strong growth.
For further information, please contact:
Adrian Westman, IR Manager
+46 735 090 400, firstname.lastname@example.org
Evolution Gaming Group AB (publ) discloses the information provided herein pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 08.00 CET on 6 May 2015.
Evolution Gaming Group AB (publ) (”Evolution”) develops, produces, markets and licenses fully-integrated B2B Live Casino solutions to gaming operators. Since its inception in 2006, Evolution has developed into a leading B2B provider in the European market with 70+ operators among its customers. The group currently has about 1,400 employees, most of whom are located in Latvia and Malta. The parent company is based in Sweden and listed on the Nasdaq First North Premier exchange under the ticker EVO. Avanza Bank is the company’s certified adviser. Visit www.evolutiongaming.com for more information.