Evolution Earnings Decline In Q1

(RTTNews) - Evolution AB (EVGGF, EVVTY), a Swedish-based B2B solution provider for casino operators, on Wednesday reported lower earnings in the first quarter compared with the previous year due to regulatory volatility and subjectivity and reduced player activity in Europe, with currency headwinds and external challenges like cybercrime adding further pressure.

For the first quarter, profit for the period declined 1.1 percent to 251.93 million euros from 254.67 million euros in the previous year.

Earnings per share were 1.26 euros versus 1.24 euros last year.

Adjusted EBITDA decreased to 335.32 million euros from 341.98 million euros in the previous year.

Operating profit slid to 292.61 million euros from 303.44 million euros in the prior year.

Revenue declined 1.5 percent to 513.04 million euros from 520.94 million euros in the previous year.

On Tuesday, Evolution AB closed trading 0.31% higher at SEK 638.80 on the Stockholm Stock Exchange.