Full year end report put a wide smile on Evolution Gaming’s face as company continues to march forward as leader in live casino industry
As a leading B2B provider of Live Casino solutions, Evolution ended 2017 with another quarter of strong growth in a very successful year. Last year’s success was not just in terms of revenue but also in terms of launching new studios and rolling out new products.
Increase in Earnings
The Evolution Gaming end year report 2017 has been published recently and it shows significant increase in earnings both in the last quarter and in full year report.
Compared with the fourth quarter of 2016 and operating revenues of €34.3 million, the sum increased by 48% to €50.7 million in the fourth quarter of 2017. EBITDA increased by 74% to €22.6 million corresponding to a margin of 44,6%. In 2016 EBIDTA was €13 million and corresponded to a margin of 37.8%.
Profit for the last quarter amounted to €18 million which is double than in 2016 when it was €9 million.
Earnings per share amounted to €0.50. This last quarter of 2017 was marked by the expansion of Evolution studios which led to increased cost levels compared to the third quarter 2017. The company started huge investment phase and they plan to continue this in the first half of 2018 which will further increase costs.
Full Year Operations Boost
Full year operating revenue increased to €178.4 million which is a 54% increase compared to a 2016 €115.5 million.
EBIDTA increased by a whopping 81% to €80.6 million, corresponding to a margin of 45,2%. Profit for the whole year amounted to €62.1 million and earnings per share to €1.73 while in 2016 earnings per share was €0.88. The Board proposed a dividend of €0.9 per share which is double than in 2016.
Expanding their existing studios, Evolution now has more than 400 tables in operation and together with their efforts in product innovation and development, they will most definitely continue the trend in growth this year.
New games like Dragon Tigre, Lightening Roulette, No Commission baccarat and Salon Prive, as well as new studios in Canada and Tbilisi will contribute to strong growth and profitability. For 2018, Evolution has prepared more games than ever to be released and hope to make another exceptional year.