Evolution posts full-year growth after strong Q4

Evolution Gaming has revealed that it was able to achieve significant year-on-year growth across key financials in 2016.

Full-year operating revenue amounted to €115.5 million ($122.9 million), up by 51% on the €76.4 million posted in the previous year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at €44.6 million, an increase of 44% on 2015, while profit for the 12 month-period totalled €31.7 million.
 
The full-year results were boosted by an impressive showing by Evolution in the fourth quarter, during which operating revenues increased 53% year-on-year to €34.3 million.

Profit in the fourth quarter hiked from €6.9 million to €9 million, while EBITDA jumped 39% to €13 million.

Martin Carlesund, chief executive of Evolution, said: “2016 marked Evolution Gaming’s 10th year in business and I am happy to report that we wrapped up a very successful year with a strong quarter.

“Live casino continues to strengthen its position among operators as well as players; our focus on the quality of the user experience, offering the broadest product portfolio for all devices and delivering a leading service to our customers are some of the factors behind our strong results in 2016.

“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.”

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