Evolution reveals ‘continued favourable’ growth in Q3

Evolution Gaming has cited the ongoing impact of an increase in people playing live casino games as well as a jump in mobile gaming activity as the main reasons behind widespread year-on-year financial growth during the three months through to September 30.

Revenue in the third quarter amounted to €19.5 million ($21.5 million), up 57% from the €12.4 million posted in the corresponding period last year.

Adjusted operating profit for the period hiked 61% year-on-year to €6.3 million, while adjusted margin came in at 32.2% compared to 31.4% last year.

Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation jumped 60% to €7.8 million, with adjusted earnings per share up 78% year-on-year to €0.16 per share.

Evolution also noted that mobile penetration in the quarter amounted to 28%, compared to just 12% in the corresponding period last year.

The third-quarter results place Evolution’s revenue for the nine months through to September at €52.7 million, up 52% on the €34.7 million posted at the same point last year.

Adjusted operating margin for the first nine months is up 88% year-on-year to €17.6 million, while adjusted profit for the period also increased 88% to €16.3 million.

Jens von Bahr, chief executive of Evolution, said: “The third quarter showed continued favourable growth and profitability.

“As previously, growth mainly derives from existing customers, driven by the increasing strategic importance of the live product among operators, as well as a strong increase in mobile gaming.

“To date, 2015 has been a very successful year for Evolution and for the live casino market in general.

“We continue to work in accordance with our growth strategy, with a focus on delivering long-term shareholder value and with a perpetual mission to increase our lead on our competitors.”

source : www.igamingbusiness.com

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