Added to YB: 2026-04-16
Pitch date: 2026-04-14
EVO.ST [neutral]
Evolution AB (publ)
+3.27%
current return
Author Info
No bio for this author
Company Info
Evolution AB (publ) develops, produces, markets, and licenses live casino and slots solutions to gaming operators in Europe, Asia, North America, Latin America, and internationally.
Market Cap
SEK 11.2B
Pitch Price
SEK 606.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
8.14
P/E
10.71
EV/Sales
5.05
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Evolution AB: After falling -65%, how much lower can it go?
EVO.ST (pass): After -65% drop despite +92% EPS growth since 2021, regulatory risks underestimated. ~38% revenue from Asia (mostly illegal markets) fell -1% in 2025 amid crackdowns in Indonesia, Japan, India, Philippines. UK reviewing EVO's license for supplying unlicensed operators. Consensus +3% 2026 growth too optimistic given weak working capital trends, scrapped 2025 dividend. Likely M&A with PTEC to shift toward regulated markets.
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