Evolution: 2022 Q2 Earnings – Key Points to Know!
- Rupam Deb
- Jul 29, 2022
- 2 min read
Updated: Dec 2, 2024
Evolution released its 2022 Q2 earnings. Here are the key points that you don't want to miss for Evolution from this earnings!
In 2022 Q2, Evolution continued to perform well with no unexpected material surprises, and continued to launch new studios and games globally with strong worldwide demand.
In that quarter:
Revenue grew by 34% y/y to EUR 344m, with the Live segment growing fast at 37% (to EUR 279m) although lower than the 44% in the previous quarter. The CEO was happy, but not content, with the overall revenue growth and hoped that the company could achieve more in the future. The RNG segment grew slower, at 6% y/y proforma, which showed an improvement over previous quarter’s 2% y/y growth, and the management’s ambition is still to bring it up to double-digit growth in the future.
Operating expenses grew slower at 28% (to EUR 129m), driven mainly by higher personnel costs (+33%).
EBITDA grew by 36% to EUR 238m, with an EBITDA margin of 69.3%, up from 68.0% a year ago, or down from 70.3% a quarter ago. This 69% margin is within the previously guided EBITDA margin range of 69%-71%, and management still expects to achieve that range for full year 2022. Management also reiterated that, if there is a trade-off between margin and market share, they will always go for market share and what they believe are the right decisions long-term for Evolution.
EBIT and net profit grew slightly faster than EBITDA, at 38% and 39% y/y respectively, to EUR 215m and EUR 201m respectively.
On cash flows and capital allocation…
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