Evolution AB’s Q2 Revenue Leaps by 28%, CEO Contemplates Further Improvements

In its latest Q2 financial report, Evolution AB reported a robust 28% surge in its operating revenue, soaring to a striking €441.1m — a sizable jump from the prior year. The lion’s share of this improvement can be traced back to the live brand sector, which chalked up an impressive €93.3m more than the same quarter in 2022. The random number generators (RNG) segment, however, saw only a modest increase of €3.8m.

The company’s dynamic CEO, Martin Carlesund, didn’t sidestep the subject of RNG’s slower progression. Instead, he embraced its high profitability and asserted his anticipation for a pickup in RNG’s year-on-year growth in the upcoming quarters.

Of course, it’s worth noting that the company’s EBITDA wasn’t left behind either. It advanced by 31%, hitting the €311.7m mark. Even though this growth rate may seem a bit slower in comparison to previous years, Evolution did set a new company record with a stunning EBITDA margin of 71%.

The operating profit also trended upwards, posting a 32% growth to €281.5m, albeit at a slightly slower annual pace. The firm’s stock price has been climbing steadily over the last year, reaching an apex at SEK 1,449.00 ($139.73) on June 2. Even with a slight dip after the results were announced, it’s still standing tall at SEK 1,273.60.

Fast forward to H1 2023, and you’ll find the operating revenue rose by a healthy 30% over Q2 2022, amassing a total of €870.6m. Still, despite these promising numbers, Carlesund maintains that there’s always room at the top, signaling opportunities for further operational enhancement.