Evolution Q1 results: Net revenue up 3.9% to €520.9m
Profit for the period was down 5.4% year-over-year. CEO Martin Carlesund was ‘not happy with the financial development in the quarter.’
Key Points
- Evolution has posted revenue of €520.9m for Q1 2025
- Profit was down 5.4% year-over-year
- The supplier saw growth in Asia but declines in Europe
Evolution has released its financial results for the first quarter of 2025. In total, gaming revenue came to €520.9m ($592.1, up 3.9% year-over-year, though profit for the period saw decline, down 5.4% to €254.7m. EBITDA serves as a middle ground between these two figures, down 1.1% to €345.8m.
During the quarter, Evolution opened its third New Jersey live casino studio, while also opening a second studio in Romania. It has also initiated further efforts to ring-fence certain regulated European markets.
Revenue by type
Breaking net revenue by type, live gaming generated €448.7m, up by €17.4m year-over-year but down €10.7m quarter-over-quarter. Meanwhile, randon number generators made the remaining €72.3m, up by €2.2m year-over-year but down €2.1m quarter-on-quarter.
Revenue by geo
By location, of the supplier’s €520.9m revenue total, €201.9m came from Asia, up 2.2%. Europe, however, saw revenue decline by 0.7% year-over-year, totalling €189.7m. North America, LatAm and other markets accounted for the remaining €129.3m, having all grown in revenue year-over-year.
Europe
Asia
North America
LatAm
Other
Comments
On the results, CEO Martin Carlesund said, “The decelerated growth rate in the quarter is not only impacted by the development of the currency rates but also connected to conscious actions we have taken that will be beneficial for the business in the longer term…
“Needless to say, I am not happy with the financial development in the quarter, but one must take into account that the results are impacted by necessary steps that contribute to our mission to ever increase the gap to competition. It takes hard work in all areas… The road cannot always be straight, but what is crucial is that we learn from the challenges we face and relentlessly adapt and strive to make Evolution a little bit better every day.”
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