Evolution sees 2020 revenue increase by 53% with profit up 90%

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Evolution sees 2020 revenue increase by 53% with profit up 90%

Evolution has reported a 53% year-on-year increase in operating revenue for full-year 2020, rising to €561.1m ($680.5m) for the period.

The supplier saw its profit for the period increase 90% compared to 2019, up to €284.6m, while EBITDA improved 82% coming in at €332.2m. Operating profit also rose 90%, up to €299.7m.

For Q4, Evolution’s operating revenue saw a 68% increase up to €177.7m, with profit for the period up 72% to €80.6m and operating profit rising 74% to €84.8m. EBITDA for the quarter was up 72% compared to the same period a year prior, to €96.2m.

The supplier completed its acquisition of NetEnt during Q4, with the SEK 19.6bn ($2.36bn) deal going through on 1 December, with €17.8m of revenue being derived from NetEnt games.

Evolution also mentioned that it generated a growth rate of 51% for Evolution Live in Q4, citing the increased demand for live casino during the online gaming spike seen in 2020, as a result of the coronavirus pandemic.

Evolution CEO Martin Carlesund said: “We end an eventful 2020 on a high note with a quarter that marks a significant step forward for Evolution.

“The pandemic has continued to be a factor throughout the year. Our organic growth was solid already in the beginning of 2020, and I am pleased to see continued strong demand with many new players and high activity in the network throughout the year.

“In this time of change and growth it is important to note that Evolution’s focus will remain centred on the same idea that the company was once founded upon – innovation and pushing boundaries.”

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