Top B2B Swedish-origin playmaker Evolution AB published its FY24 results today, showing surging growth in both revenue and profit and asserting its position as a leading force in global iGaming.
Total operating revenues for the company, founded 19-years-ago by Jens von Bahr and Fredrik Österberg, topped €2.21 billion (£1.89bn) in 2024, up from €1.8 billion (£1.54bn) the previous year.
This included €1.78 billion (£1.52bn) from live casino operations and €287 million (£245.8m) from RNG products.
Operating profit climbed 24 percent, year-over-year, to €1.42 billion (£1.21bn). Profit before tax rose to €1.44 billion (£1.23bn). And Net Profit for the year totalled €1.24 billion (£1.06bn) – compared to €1.07 billion (£916.55m) in 2023.
Basic earnings-per-share increased from €5.01 to €5.94, while dividend payments totalled €559 million (£474.84m).
Expansion
“2024 has been a year of continued expansion and innovation for Evolution,” affirmed Martin Carlesund, Group CEO.
“We have further strengthened our position as the world’s leading provider and innovator of online casino games, delivering a solid financial performance while navigating challenges and seizing new opportunities in the global market.”
Investors on Sweden’s Nasdaq exchange agreed, giving Evolution and Carlesund a ringing endorsement with the company’s shares up nine to 804.2 SEK on the market at the time of this writing.
“As part of our ongoing global expansion strategy, we launched new studios in Colombia and the Czech Republic and initiated projects in Brazil and the Philippines, reinforcing our commitment to serving a growing global market.”
Evolution introduced over 100 new games to market in 2024, and its Live Casino segment, expanding by some 16 percent, y-o-y, featured more than 1,700 tables by the year’s end.
Challenges
Yet, with a months-long labour dispute at its studio in Georgia in the Caucasus and cyber-attacks on its Asian operations, the year was not without its challenges.
Nevertheless, noted Carlesund: “All of our key markets demonstrated strong potential and continued growth.
“As the regulatory landscape continues to evolve, with an increasing number of states introducing national regulations, we need to adapt to be able to seize the opportunities these changes provide us with.”
Looking forward, Evolution’s Board has proposed a dividend of €2.80-per-share, and has planned a share buy-back program of up to €500 million (£428.13m) for this year, 2025.
Added Carlesund: “With an exceptional team of over 21,000 dedicated professionals, Evolution is poised for another year of breakthroughs and success.
“Together, we will keep pushing boundaries and shaping the future of online gaming.
“Let’s make Evolution even stronger in 2025. One step at a time, every single day.”
