Post on 06-Feb-2021
Evolution Gaming Interim report January-June 2019
19 July 2019
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CEO, Martin Carlesund
CFO, Jacob Kaplan
Highlights
In the quarter:• Revenue growth +45% to 85,7 MEUR (59,3)
• EBITDA increase +63% to 42,7 MEUR (26,2)
• EBITDA margin 49,8% (44,2)
• EBIT increase +69% to 36,6 MEUR (21,7)
2
• Positive reception for new games• EGR Live Casino provider of the year – 10th consecutive • Full-year EBITDA-margin expected in 47-49% range
Continued strong increase in activity across network
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Bet spots
0
1,000,000,000
2,000,000,000
3,000,000,000
4,000,000,000
5,000,000,000
6,000,000,000
16Q1 16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2
Be
t sp
ots
Bet spots
YoY growth+56%
Increase in staff
4
Full Time Equivalents (FTE)
1,7692,027
2,394 2,4262,539
2,740
3,0853,243
3,600
3,970
4,319
4,671
5,120
0
1,000
2,000
3,000
4,000
5,000
6,000
16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2
FT
E
FTE, end of period
YoY growth+42%
Live Casino vertical is stronger than ever
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Geographic breakdown
6
Based on GGR
Q2/19 Q1/19 Q4/18 Q3/18 Q2/18
Nordics 8% 9% 9% 9% 9%
United Kingdom 13% 13% 14% 14% 16%
Rest of Europe 49% 49% 51% 49% 50%
Rest of World 30% 29% 26% 28% 25%
Total 100% 100% 100% 100% 100%
Regulated markets 35% 34% 30% 29% 31%
Mobile 70% 68% 64% 60% 58%
Financial development
7
EUR million
27.1 29.234.3
39.742.3
45.750.7 51.6
59.364.3
70.2
79.3
85.7
10.6 10.813.0
17.0 19.221.8 22.6 22.0
26.2 28.031.6
35.9
42.7
39.1%37.0% 37.9%
42.8%
45.4%47.7%
44.6%42.6%
44.2% 43.5%45.0% 45.3%
49.8%
16Q2 16Q3 16Q4 17Q1 17Q2 17Q3 17Q4 18Q1 18Q2 18Q3 18Q4 19Q1 19Q2
Revenue EBITDA EBITDA, %
P/L detail
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Group Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jul 2018- Jan-Dec
(EUR thousands) 2019 2018 2019 2018 Jun 2019 2018
Revenues 85,701 59,211 164,988 110,782 299,556 245,350
Other revenues 27 41 37 64 41 68
Total operating revenues 85,728 59,252 165,025 110,846 299,597 245,418
Personnel expenses -30,451 -24,244 -59,486 -45,095 -112,065 -97,674
Depreciation, amortisation and impairments -6,116 -4,480 -11,845 -8,596 -21,446 -18,197
Other operating expenses -12,547 -8,840 -26,891 -17,630 -49,324 -40,063
Total operating expenses -49,114 -37,564 -98,222 -71,321 -182,835 -155,934
Operating profit 36,614 21,688 66,803 39,525 116,762 89,484
Financial items -51 -43 -96 -86 -168 -158
Profit before tax 36,563 21,645 66,707 39,439 116,594 89,326
Tax on profit for the period -2,034 -1,569 -3,602 -2,756 -6,712 -5,866
Profit for the period 34,529 20,076 63,105 36,683 109,882 83,460
Average number of shares after dilution 183,565,260 181,685,230 183,565,260 181,685,230 183,189,254 182,625,245
Earnings per share after dilution (EUR) 0.19 0.11 0.34 0.20 0.60 0.46
Cash flow and financial resources
9
Note: Op. cash flow defined as EBITDA – Change in NWC – Investing activities
Capital expenditure Operating cash flow Balance sheet summaryEUR m
14%
12%12% 12%
14%15%
13% 14%
12%
10%
0
2
4
6
8
10
12
17
Q1
17
Q2
17
Q3
17
Q4
18
Q1
18
Q2
18
Q3
18
Q4
19
Q1
19
Q2
MEU
R
TangiblesIntangibles% of revenue, rolling 12 month
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
5
10
15
20
25
30
35
17
Q1
17
Q2
17
Q3
17
Q4
18
Q1
18
Q2
18
Q3
18
Q4
19
Q1
19
Q2
MEU
R
Op. Cash flow Cash conversion
EUR million 2019-06-30 2018-12-31
Total non-current assets 98 604 62 095
Current assets 108 931 93 611
Cash and cash equivalents
88 680 84 951
Total current assets 197 611 178 562
Total assets 296 215 240 657
Total equity 182 118 162 270
Total long-term liabilities 18 659 5 619
Total current liabilities 95 438 72 768
Total equity and liabilities 296 215 240 657
Note: Excluding acquisition of Ezugi 19Q1
Look ahead…
• Live vertical continues to grow its share of total market
• Continue to invest based on customer demand
• Expect to sustain margin level from H1 in H2
• Continue to take market-shares and to increase gap to our competitors
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Q&A
11