22nd Jul 2025 10:39
(Alliance News) - Evoke PLC on Tuesday said revenue increased during the first half of the year due to growth in its online and gaming offering as its retail arm returned to growth.
The Gibraltar-based betting and gaming operator, and owner of the William Hill, 888 and Mr Green brands, said revenue in the second quarter to the end of June increased by around 5% from the prior year, in an improved performance compared to the first quarter.
The second quarter performance was driven by online growth of around 6%, or 7% at constant currency, with continued strength in international core markets.
Evoke's Retail arm returned to growth in the second quarter following the successful rollout of 5,000 new gaming machines.
Revenue increased 3% in the first six months of the year, or 4% at constant currency. This was supported by double-digit gaming growth for both the second quarter and the first half as a whole.
Evoke said its Sports division was impacted by a tougher prior year comparative in the second quarter as the Euros football championship took place last year, as well as a stronger win margin in the previous year.
The company expects to report first half adjusted earnings before interest, tax, depreciation and amortisation between GBP163 million and GBP167 million, which represents 43% growth at the midpoint.
Evoke said this would bring adjusted Ebitda for the last twelve months to over GBP360 million, which represents "significant year-over-year growth".
The firm left its expectations for the full year unchanged, as it expects revenue growth between 5% and 9% with an adjusted Ebitda margin of at least 20%.
The anticipated growth in the second half is supported by product delivery, improved marketing returns and further cost savings, Evoke noted.
"I am pleased to report an improvement in the growth rate during Q2, with Retail returning to growth and continued double-digit performance in our international core markets. Q2 2025 marked our second strongest quarterly revenue performance since the beginning of 2023, a particularly encouraging result given the tough comparator from lapping the Euros," said Chief Executive Officer Per Widerstrom.
"Our disciplined strategy with clear focus on our core markets and driving operational excellence is delivering improved profitability and enabling further deleveraging."
Shares in Evoke were up 6.3% at 65.40 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
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