Evolution slumps as Q3, hit by cyber attacks in Asia, miss forecasts

Evolution AB (publ)

23/10/2025 08:18

** Shares of Evolution EVOG.ST slide 11% after the Swedish online casino solutions company delivered Q3 results below expectations

** The company's sales of EUR 507.1 million ($591.38 million) and EBITDA of EUR 336.9 million were both about 6% lower than analysts polled by LSEG had expected

** The group kept its margin guidance for FY and Q4 at 66-68% but Jefferies points out that assuming -2% revenue  growth and applying the Q3 margin of 66.4%, it would imply a -3% FY25E EBITDA miss versus current consensus

** The brokerage says that low group revenue growth not only persisted into Q3, which was expected, but also fell sequentially (-3% q/q) after over-extending countermeasures to  combat Asia cyber attacks

** "During the quarter we didn't progress as much as we would have wanted," Evolution said in a statement on fighting cyber criminals in Asia

** Shares, track for worst day since April, among worst performers on pan European index STOXX 600 .STOXX

($1 = 0.8575 euros)

 (Reporting by Izabela Niemiec)

 ((izabela.niemiec@thomsonreuters.com))