Lower Profitability for Evolution

» Published: July 19 2024

Lower Profitability for Evolution
Photo: Christine Olsson/TT

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The game developer Evolution reports a profit after tax of 269 million euros, equivalent to 3.1 billion kronor.

This can be compared to the profit of 264 million euros during the corresponding quarter a year earlier.

Operating revenues increased by over 15 percent to 508 million euros.

Profitability was reduced by the rapid expansion during the quarter. The operating margin (EBITDA) fell to 68.5 percent, from 70.7 percent.

"The previous guidance on an EBITDA margin of 69-71 percent for the full year 2024 remains", writes Evolution's CEO Martin Carlesund.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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