REG - Evoke PLC - H1 2025 Post-Close Trading Update

EvokeAnnouncement

Tue 07:00

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RNS Number : 9504R  Evoke PLC  22 July 2025

 

22 July 2025

 

evoke Plc

("evoke" or "the Group")

 

H1 2025 Post-Close Trading Update

Improving performance with Q2 revenue growth of 5% and Adjusted EBITDA
significantly higher year-over-year

evoke (LSE: EVOK), one of the world's leading betting and gaming companies
with internationally renowned brands including William Hill, 888 and Mr Green,
today announces a post-close trading update for the three and six months
ending 30 June 2025 ("Q2" and "H1" respectively).

Financial performance

Improved performance in Q2 with Group revenue growth of approximately 5%
year-over-year (c.5% in constant currency "cc"(1)). This performance was
driven by online growth of approximately 6% (c.7% cc) with continued strength
in International Core Markets, and Retail returning to growth in Q2 following
the successful rollout of 5,000 new gaming machines across the estate,
completed in March 2025.

As a result, revenue growth in H1 was c.3% (c.4% cc) driven by double-digit
gaming growth for both Q2 and H1. Sports was impacted in Q2 by the tougher
prior year comparative with the Euros taking place last year, as well as
stronger prior year win margin.

Robust cost control - underpinned by an increasingly efficient operating model
- and improved marketing returns are expected to deliver H1 Adjusted EBITDA in
the range of £163-167m (+43% at the mid-point). This would bring last twelve
months ("LTM") Adjusted EBITDA to over £360m, representing significant
year-over-year growth and delivering another period of strong deleveraging.

Outlook

The Board confirms no change to FY25 expectations, reiterating its confidence
in achieving FY25 targets of 5-9% revenue growth and Adjusted EBITDA margin of
at least 20%. The anticipated growth in the second half is supported by
product delivery, improved marketing returns, and further cost savings, with
continued execution of the Group's strategy and value creation plan.

Per Widerström, CEO of evoke, commented:

"I am pleased to report an improvement in the growth rate during Q2, with
Retail returning to growth and continued double-digit performance in our
International Core Markets. Q2 2025 marked our second strongest quarterly
revenue performance since the beginning of 2023, a particularly encouraging
result given the tough comparator from lapping the Euros. Importantly, this
growth was also delivered profitably, in line with our focus on sustainable
profitable growth, with H1 Adjusted EBITDA significantly ahead year-over-year,
supporting our strong deleveraging trajectory in line with the value creation
plan.

Alongside the improved Q2 performance, we continue to transform the Group's
capabilities for the mid- and long-term. We are strengthening our competitive
advantages and better aligning our leading brands and products to a clearer
customer value proposition. Our disciplined strategy with clear focus on our
Core Markets and driving operational excellence is delivering improved
profitability and enabling further deleveraging. I look forward to sharing
more detail on our progress and plans at our Interim Results in August."

The Group will report its Interim Results for the period ended 30 June 2025 on
Wednesday 13 August 2025 at 07:00 BST.

Notes

(1) Growth on a constant currency basis is calculated by translating both
current and prior year performance at the 2025 exchange rates.

 

Enquiries and further information:

 evoke Plc                                       +44(0) 800 029 3050
 Per Widerström, CEO

 Sean Wilkins, CFO

 Investor Relations                              ir@evokeplc.com (mailto:ir@evokeplc.com)

 James Finney, Director of IR

 Media                                           evoke@hudsonsandler.com (mailto:evoke@hudsonsandler.com)
 Hudson Sandler                                  +44(0) 207 796 4133

 Alex Brennan / Hattie Dreyfus / Andy Richards

 

About evoke Plc:

evoke plc (and together with its subsidiaries, "evoke" or the "Group") is one
of the world's leading betting and gaming companies. The Group owns and
operates internationally renowned brands including William Hill, 888, and Mr
Green. Incorporated in Gibraltar, and headquartered and listed in London, the
Group operates from offices around the world.

The Group's vision is to make life more interesting and its mission is to
delight players with world-class betting and gaming experiences.

Find out more at: https://www.evokeplc.com (https://www.evokeplc.com)

 

Important Notices

This announcement may contain certain forward-looking statements, beliefs or
opinions, with respect to the financial condition, results of operations and
business of evoke. These statements, which contain the words "anticipate",
"believe", "intend", "estimate", "expect", "may", "will", "seek", "continue",
"aim", "target", "projected", "plan", "goal", "achieve", words of similar
meaning or other forward looking statements, reflect evoke's beliefs and
expectations and are based on numerous assumptions regarding evoke's present
and future business strategies and the environment evoke will operate in and
are subject to risks and uncertainties that may cause actual results to differ
materially. No representation is made that any of these statements or
forecasts will come to pass or that any forecast results will be achieved.
Forward-looking statements involve inherent known and unknown risks,
uncertainties and contingencies because they relate to events and depend on
circumstances that may or may not occur in the future and may cause the actual
results, performance or achievements of evoke to be materially different from
those expressed or implied by such forward looking statements. Many of these
risks and uncertainties relate to factors that are beyond evoke's ability to
control or estimate precisely, such as future market conditions, currency
fluctuations, the behaviour of other market participants, the actions of
regulators and other factors such as evoke's ability to continue to obtain
financing to meet its liquidity needs, changes in the political, social and
regulatory framework in which evoke operates or in economic or technological
trends or conditions. Past performance of evoke cannot be relied on as a guide
to future performance. As a result, you are cautioned not to place undue
reliance on such forward-looking statements. The list above is not exhaustive
and there are other factors that may cause evoke's actual results to differ
materially from the forward-looking statements contained in this announcement.
Forward-looking statements speak only as of their date and evoke, its
respective parent and subsidiary undertakings, the subsidiary undertakings of
such parent undertakings, and any of such person's respective directors,
officers, employees, agents, affiliates or advisers expressly disclaim any
obligation to supplement, amend, update or revise any of the forward-looking
statements made herein, except where it would be required to do so under
applicable law. No statement in this announcement is intended as a profit
forecast or a profit estimate and no statement in this announcement should be
interpreted to mean that the financial performance of evoke for the current or
future financial years would necessarily match or exceed the historical
published for evoke.

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