ANOTHER STRONG YEAR FOR EVOLUTION GAMING
16th February, 2017 at 17:24:35
Live dealer provider reports metrics all going in the right direction.
Live dealer provider Evolution Gaming's CEO Martin Carlesund has every right to be pleased with the Q4 and FY 2016 results posted by his company Thursday, which again showcase a strong performance and the launch of more innovative products by the company.
The report makes special mention of the just-launched Dreamcatcher game, which attracted much interest at the recent ICE show in London and is inspired by popular entertainment shows. It is the world's first game in the Live Lucky Wheel category, which reinforces Evolution's position as the market's prime innovator in the Live segment.
Q4-2016 highlights in the report included:
* Operating revenues increased by 53% to Euro 34.3 million (22.4);
* EBITDA rose 39% y-o-y to Euro 13.4 million (9.3) with a margin of 38% (42);
* Profit for the period was Euro 9 million (6.9);
* Earnings per share reached Euro 0.25 (0.19);
* Mobile penetration rose impressively to 46% (28).
FY 2016 numbers included:
* Operating revenues up by 51% to Euro 115.5 million (76.4);
* EBITDA was up 44% at Euro 44.6 million (31.0), corresponding to a margin of 39% (41);
* Profit increased to Euro 31.7 million MEUR (20.0);
* Earnings per share reached Euro 0.88 (0.56).
The directors of the company have proposed a dividend of Euro 0.45 per share, commenting that demand remains strong for the company's products, which are being augmented by the new game category branded Live Lucky Wheel.
CEO Carlesund noted that 2016 was Evolution's tenth year in business, and that the strong performance included sales up by 53% year-on-year in the fourth quarter. Extensive development activity was ongoing on the product side, he said.
"In addition to several new customers, existing customers are continuing to expand their offerings," he revealed. "This quarter, new dedicated environments were launched for 888, Virgin Games
and bwin, among others."
Carlesund also flagged the launch of an exciting new all-baccarat game titled Baccarat Control Squeeze, where the player is given more opportunity to actively participate in the course of the game.
"2017 will be an exciting year for Evolution. We will continue to work according to our strategy where product innovation, regulated markets and land-based solutions are key areas. In addition to our commercial focus, we are also preparing the company for a move to Nasdaq Stockholm in the second quarter of the year," Carlesund concluded.
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