Evolution said the main reason behind this growth was increased commission income from both new and existing clients. Live casino revenue up 54.5% year-on-year to €839.2m and random number generator (RNG) revenue rocketing 1,189.3% to €229.5m, the latter being as a result of its acquisition of NetEnt in December 2020.
In terms of geographical performance, rest of Europe revenue amounted to €416.9m in 2021, while Asia revenue reached €286.4m and North America €114.5m. Revenue in the UK was €81.3m and the Nordics €73.2m, while other regions contributed €96.2m.
Evolution also noted a series of major milestones for the business in 2021, many of which helped expand its North American business.
“In Argentina, we went live with operator BetWarrior and launched our live casino games portfolio in the newly regulated Buenos Aires Province online gaming market. Evolution was the first live casino provider in this market,” Evolution’s chief executive Martin Carlesund said.
“We exit 2021 with over 1,000 live tables, an increase of over 300 tables during the year, the largest increase in a single year. This dramatic expansion would have been an accomplishment under normal circumstances but taking into account the challenges posed by the pandemic, I am very proud,” Carlesund added.
Looking at costs for the full year and operating expenses jumped 58.7% to €414.8m, leaving an operating profit of €654.0m, up 118.2% year-on-year, while earnings before interest, tax, depreciation and amortization (EBITDA) hiked 121.2% to €734.7m.
Financial costs amounted to €6.5m, which resulted in a pre-tax profit of €647.5m, a rise of 116.9% from €298.7m in 2020. After taking off the €42.1m Evolution paid in income tax, the supplier ended the year with a net profit of €605.4m, up 112.7% year-on-year.
“To sum up the last quarter of another intense year – we continue to move full speed ahead. This week’s 2022 product roadmap announcement set the tone for what will be an exciting product year where we will continue our relentless focus to take the player experience to the next level and increase the gap to competitors,” Carlesund commented.
“Finally, looking back at 2021, a year where several important milestones have been accomplished, I want to take this opportunity to thank and acknowledge the commitment and impressive work from all Evolution employees, who continue to strive to make Evolution just a little bit better, every day. It is an amazing global team and I look forward to an exciting 2022,” Carlesund concluded.
Source: iGB / GMB
