volution Gaming released on Thursday the year-end report for January-December 2018.
"I am very pleased to summarise a good end to the year with continued favorable growth and high profitability. Revenues in the fourth quarter amounted to EUR 70.2 million, corresponding to an increase of 38 percent compared with the same period in 2017," said CEO Martin Carlesund.
"EBITDA amounted to EUR 31.6 million with a margin of 45 percent. For the full-year, the margin was 44 percent, which is satisfactory given the high expansion pace. At year-end, we had approximately 550 tables live; significantly more than what we had planned in the beginning of 2018," the CEO continued.
The key highlights are as follows:
Fourth quarter of 2018 (Q4 2017)
Full-year 2018 (2017)
Events during the fourth quarter of 2018
Events after the end of the quarter
Summary of the fourth quarter and full-year 2018
"During 2019, we will invest in a new studio in Malta and continue to expand our existing studios to meet the market demand. At the same time, we optimise the expansion from last year, and we expect a slightly strengthened EBITDA margin in the range of 44-46 percent for the full-year, CEO Martin Carlesund said.
"We continue to grow in North America. During the fourth quarter, we went live with several new customers in the US, and just after year-end we also signed an agreement with a second customer in Canada. To further strengthen our position, we have also carried out Evolution’s first-ever acquisition. With the business of Ezugi, we further extend our footprint especially in the US, while also gaining more studio capacity and resources within product development. Another key activity in North America will be to roll out more games; Live Infinite Blackjack is one example that was successfully launched for our European operators in the past quarter.
"Among our markets, the Nordics in particular have exhibited favourable growth in the quarter. Rest of Europe also showed positive progress, while the growth in Rest of World was somewhat lower than in previous quarters. As before, the UK market is currently slow as a consequence of the latest regulatory requirements. At year-end, Sweden’s new gaming regulation came into effect, and we can note that several of our customers have been off to a great start.
"At the publication of this report, this year’s edition of ICE has just taken place, and I am immensely proud of the 10 game titles that Evolution revealed at the show. Our product and development teams have put countless hours into creating games beyond the expected, which lay the foundation for continued long-term growth. The main highlight is MONOPOLY Live, which is an evolved special edition of our successful Dream Catcher. We also launched a live game show based on the popular TV programme Deal or No Deal. Both titles have been developed to take the entire Live Casino category to the next level, expand to new player types and create more commercial value for our operators.
"Among all the new products, I would also like to highlight our new dice games Lightning Dice and Super Sic Bo. Dice games have a long history and a global attraction, and we confidently look forward to introducing our innovative live versions for our customers.
All in all, we can look back at yet another amazing year in the Evolution history with expansion outside Europe and many successes in innovation and created customer value. With a new studio in Malta and all games that will be launched, I am confident that we are in excellent shape to continue increasing our market leadership going forward. In that context, we can also conclude that the first quarter has been off to a good start," the CEO concluded.