Q1 2026 Evolution AB (publ) Earnings Call Transcript
Key Points
- Evolution AB (EVVTY) reported a strong EBITDA margin of 65.4%, demonstrating efficient cost management.
- North America and Latin America achieved all-time high revenues, with North America showing a 21% year-on-year growth in US dollars.
- The company is expanding its studio network with new additions in Latvia, the US, and Argentina, supporting future growth.
- Evolution AB (EVVTY) is investing heavily in product innovation, with a promising roadmap for 2026, including new MONOPOLY-themed games.
- The company maintains a strong financial position with total cash of EUR1.2 billion and total equity of EUR4.3 billion.
- Net revenues declined by 1.5% year-on-year, with Europe experiencing a significant downturn due to regulatory volatility.
- Live revenue decreased by 3.1% year-on-year, impacted by challenges in the European market.
- The company faces ongoing regulatory challenges in Europe, affecting player activity and channelization.
- No dividend will be distributed for 2025, as the Board assesses that cash dividends are not the best way to create long-term shareholder value.
- The legal dispute with a competitor is expected to be prolonged, potentially diverting focus and resources.
Welcome to Evolution Q1 Report 2026 presentation. (Operator Instructions)
Now, I will hand the conference over to the speakers, CEO, Martin Carlesund; and CFO, Joakim Andersson. Please go ahead.
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Good morning, everyone. Welcome to the presentation of Evolution's interim report for the first quarter of 2026. My name is Martin Carlesund, and I'm the CEO of Evolution. With me, I have our CFO, Joakim Andersson. As always, I will start with some comments on our performance and then hand over to Joakim for a closer look at our financials. After that, I will conclude and an outlook, and then we will open up for your questions. Next slide, please.
So let's start with the financial and operational highlights in the quarter. Net revenues were EUR513 million, corresponding to a year-on-year decline of 1.5%. EBITDA came in at EUR335.3 million, corresponding to a margin of 65.4%. The regional development was somewhat mixed in the quarter. Europe is not
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