Evolution generated €475.3m in sales and €337m in EBITDA in Q4 2023, similar to 12 months-on-12 months sales boom of 16.6% and an EBITDA margin of 70.9%.
Revenue from the stay on line casino segment accelerated through 21.1% 12 months-on-12 months to €405.6m in Q4.
“We are actually virtually in a higher stability among deliver and call for than 1 / 4 ago,” stated CEO Martin Carlesund.
In Q3 2023, Evolution stated call for for stay on line casino outpaced its potential to supply.
“The difficult paintings to enhance potential and awareness on enlargement the beyond few quarters has paid off,” he added.
In Q4, Evolution opened a brand new studio in Bulgaria and through 12 months–give up it turned into operating over 1,six hundred stay tables in total.
While RNG sales accelerated sequentially through 4.5% from Q3 to €69.8m in Q4, it declined 3.7% in comparison to the corresponding area in 2022.
“Every day we flow one step forward, and I am glad with the improvement in Q4. We purpose for endured step-through-step enhancements all through 2024,” Carlesund stated.
Geographical breakdown
Geographically, Evolution noticed strong boom in Europe, with almost 10% 12 months-on-12 months boom for the second one consecutive area because it generated €185.8m withinside the vicinity.
“There remains untapped capability in Europe, and it stays a vicinity with precise capability for Evolution,” Carlesund stated.
The US exhibited “robust momentum” with 8% sequential boom, and Asia and Latam emerged because the agency’s fastest-developing regions.
Evolution stated it’ll continue to make investments withinside the Latam vicinity withinside the years to come and has initiated a assignment to construct a 2d studio in Colombia.
For the whole 12 months 2023, Evolution’s sales accelerated through 23.5% to €1.8bn, and EBITDA rose through 25.7% to €1.3bn, similar to a margin of 70.5%.
The product bounce years
Investments in 2023 amounted to €94m, below Evolution’s steerage of €120m from the start of 2023.
The dealer admitted that it did “now no longer control to increase pretty as fast” as planned.
For 2024, Evolution therefore repeated its capex steerage of €120m.
The agency stated it plans to feature as a minimum 4 new studios all through 2024 further to enlargement in current locations.
Carlesund highlighted that Evolution handed its 2023 goal of extra than a hundred new game releases throughout each RNG and Live, because it launched a complete of 110 video games at some point of the 12 months.
Despite this achievement, “we come into 2024-2025 with better targets than ever,” Carlesund stated.
Looking ahead, he defined 2024 and 2025 as “the product bounce years”.
“We are going to supply extra thrilling video games, we are able to discover new forms of video games that we do now no longer have nowadays and we are able to put money into specific video games for particular markets. We will all over again boom the space to the competition.”
Evolution has revised its EBITDA margin steerage for 2024, now watching for it to fall withinside the variety of 69%-71%.
Carlesund stated he appears to 2024 and past with “enthusiasm, hunger, and ambition.”