Brief: Evolution Sees 2024 EBITDA Margin At 69-71%

Evolution AB (publ)

01/02/2024 07:15

Feb 1 (Reuters) - Evolution AB (publ)  EVOG.ST :
    * PROPOSES DIVIDEND OF EUR 2.65 PER SHARE (2.00)
    * DURING 2023 ADDED 110 NEW GAMES TO PORTFOLIO, EXCEEDING
TARGET
OF 100 NEW GAMES
    * CURRENCY HEADWINDS REMAIN IN YEAR-ON-YEAR COMPARISON,
REVENUE
GROWTH AT CONSTANT CURRENCY IS ESTIMATED TO HAVE BEEN 25% IN Q4
    * FY EBITDA MARGIN 70.5%
    * SEES 2024 EBITDA MARGIN AT 69-71%
    * CONTINUE FOCUS ON EXPANSION AND WITH EXPECTATION THAT
MARGIN
WILL BE STRONGER IN SECOND HALF OF 2024
    * REVENUES IN LIVE CASINO INCREASED TO EUR 405.6 MLN IN Q4
    * REVENUES IN RNG INCREASED SEQUENTIALLY FROM Q3 TO EUR 69.8
MLN
IN Q4 BUT DECLINED COMPARED TO CORRESPONDING QUARTER IN 2022
    * SEES ENCOURAGING DEVELOPMENT IN ALL REGIONS GOING INTO
2024
    * NORTH AMERICA SHOWED STRONG MOMENTUM IN Q4 COMING BACK TO
SEQUENTIAL GROWTH
    * STILL UNTAPPED POTENTIAL IN EUROPE
    * ASIA AND LATAM ARE FASTEST GROWING REGIONS YEAR-ON-YEAR
    * INVESTMENTS IN 2023 AMOUNTED TO EUR 94 MLN WHICH WAS BELOW
OUR
GUIDANCE OF EUR 120 MILLION
    * FOR 2024 WE WILL REPEAT CAPEX GUIDANCE OF EUR 120 MLN
    * PLANS TO ADD AT LEAST FOUR NEW STUDIOS DURING 2024 IN
ADDITION
TO EXPANSION IN EXISTING LOCATIONS

Source text for Eikon:  ID:nWkr2v9CLl 
Further company coverage:  EVOG.ST 

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