Brief: Evolution Expects To Be In Upper End Of FY EBITDA Margin Guidance Of 68-71%

Evolution AB (publ)

26/10/2023 06:40

Oct 26 (Reuters) - Evolution AB (publ)  EVOG.ST :
    * CEO SAYS WE MAINTAIN OUR GUIDANCE OF 68-71 PERCENT EBITDA
MARGIN
FOR YEAR
    * CEO SAYS ON FY MARGIN GUIDANCE: COMING INTO FINAL QUARTER
OF
YEAR I DO EXPECT US TO BE IN UPPER END OF THAT INTERVAL EVEN
WITH A FULL FOCUS ON EXPANSION
    * CEO SAYS WE ARE ON TRACK TO EXCEED OUR PLAN OF MORE THAN
100
GAMES RELEASED IN 2023.
    * SAYS DURING Q3 WE RELEASED MORE GAMES THAN DURING ANY
EARLIER
QUARTER
    * SAYS WE HAVE FACED DELAYS, AND IN SOME CASES NOT EXECUTED
FULLY,
IN SEVERAL OF OUR PLANNED STUDIO PROJECTS FOR THIS YEAR
    * SAYS WE NEED TO INCREASE PACE OF RECRUITMENT BOTH IN
EXISTING
STUDIOS AS WELL AS TO SUPPORT NEW STUDIOS
    * SAYS WE PLAN TO OPEN ONE NEW STUDIO IN EUROPE LATER THIS
YEAR
AND 3-4 NEXT YEAR IN EUROPE, NORTH AMERICA AND LATAM
    * SAYS STRENGTHENING OF EURO AGAINST MOST CURRENCIES HAS
AFFECTED
OUR TOP LINE GROWTH NEGATIVELY DURING THIS YEAR
    * SAYS IN Q3 WE ESTIMATE 6-8 PERCENTAGE POINTS NEGATIVE
HEADWIND
ON REVENUE GROWTH FROM CURRENCY EFFECTS
    * SAYS SAW 9 PERCENT GROWTH IN NORTH AMERICA COMPARED TO
SAME
PERIOD LAST YEAR BUT A SLIGHTLY LOWER REVENUE IN Q3 COMPARED TO
Q2
    * SAYS IN Q3 ASIA AND LATIN AMERICA BOTH GROW 35 AND 39
PERCENT
RESPECTIVELY FROM LAST YEAR AND EUROPE SHOWS A STEADY 10 PERCENT
INCREASE

Source text for Eikon:  ID:nWkr4txC3w 
Further company coverage:  EVOG.ST 

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