Q4 profit margin, product roadmap cheer Evolution investors

Evolution Petroleum

01/02/2024 09:23

** Shares in Evolution  EVOG.ST  rise 6% after the Swedish
online gaming company posted Q4 EBITDA margin beat, and said
2024-2025 will be its "product leap" years
    ** The group posted Q4 EBITDA at EUR 337 million ($363.35
million), in line with consensus, with a Q4 EBITDA margin of
70.9%
    ** "Evolution reported a relatively sound Q4," J.P.Morgan
says, adding that margin print, about 50bps above expectations,
was rather decent 
    ** "We see positives from a record Q4 EBITDA margin and
upbeat commentary around the product roadmap," Jefferies says in
a note
    ** The brokerage takes a positive view on the group based on
a leadership position in the fast-growing 'live' casino segment
    ** High, and rising, EBITDA margins underscore Evolution's
differentiated, complex product delivered at scale, Jefferies
adds 
    ** The stock is on track for its best day in a year and is
among top risers on STOXX 600 index  .STOXX 

($1 = 0.9275 euros)

 (Reporting by Jagoda Darlak)
 ((Jagoda.Darlak@thomsonreuters.com; +48 58 769 65 40;))