Evolution has published its financial results for the second quarter of the year, highlighting an increase in profit and earnings per share, despite a drop in net revenues and EBITDA. The results were mostly consistent with the prior-year ones.
Evolution’s Revenues Declined, But Its Profits Increased
In its interim report, Evolution outlined a slight decrease in net revenues to EUR 517.8 million ($591.9 million). This marks a 1.2% decline year-on-year, the company noted. On a year-to-date basis, Evolution’s net revenues experienced a 1.4% drop to EUR 1,030.8 million ($1,178.3 million).
Evolution’s EBITDA, on the other hand, experienced a decrease to EUR 341 million ($389.8 million) for Q1 and EUR 676.3 million ($773.1 million) for the YTD period. These figures correspond to margins of 65.9% and 65.6%, respectively.
At the same time, profit for Q1 was EUR 251.4 million ($287.4 million), which actually demonstrates an improvement from Q1 2025. The same applied to the company’s earnings per share, which amounted to EUR 1.27 ($1.45), up from EUR 1.22 ($1.39) in the prior-year period.
On a YTD basis, profits increased slightly to EUR 503.4 million ($575.4 million). Earnings per share for the YTD also increased, reaching EUR 2.54 ($2.9).
The Company Experienced Growth in Most Regions
Martin Carlesund, the company’s chief executive officer, provided further insights into Evolution’s financial performance, saying that he is pleased with the overall results. He added that Evolution’s performance in Europe returned to quarter-on-quarter growth (of 3.5%) for the first time in several quarters. However, Evolution still remains cautious of the suboptimal channelization rates in certain European markets.
The Evolution operations in the LATAM region continued to experience strong growth (of 26.3%), and so did the company’s operations in North America (growth of 9.5%). Africa remained a rather volatile market, but Evolution still saw positive development reflected in quarter-on-quarter growth (of 14.2%). Asia was the sole outlier where Q2 was associated with a quarter-on-quarter decline (of 3.7%).
The road is almost never straight, but what matters is that we are moving forward. Some curves are harder than others, but they can also be fun. And the same goes for Evolution. It is great, fun work, and we are always moving forward.
Martin Carlesund, CEO, Evolution
In the meantime, Evolution recently reached a $6.4 million settlement with the UK Gambling Commission. Additionally, the company just announced that the agreed closing period for its proposed acquisition of Galaxy Gaming has expired, meaning that either side can now choose to terminate the agreement.