Professional
Added to YB: 2024-06-07
Pitch date: 2024-06-03
EVO.ST [bullish]
Evolution AB (publ)
-41.27%
current return
Author Info
No bio for this author
Company Info
Evolution AB (publ) develops, produces, markets, and licenses online casino systems to gaming operators in Europe, Asia, North America, Latin America, and internationally.
Market Cap
SEK 11.5B
Pitch Price
SEK 1.1K
Price Target
N/A
Dividend
4.85%
EV/EBITDA
7.45
P/E
10.42
EV/Sales
4.89
Sector
Hotels, Restaurants and Leisure
Category
growth
Protean Funds New Position: Evolution AB
EVO.ST: Online gambling supplier shunned by Swedish funds due to vice stigma, causing undervaluation. Stellar results for a decade, no domestic overweights. Trades at low teens EV/EBIT, 15-20% organic growth, 70%+ EBIT margins, net cash. Offline to online structural growth trend. Investing in capacity & innovation to maintain lead. Astute mgmt with buyback timing. Stock down on short-term issues, but long-term thesis intact. Painful slide, but potential for excellence.
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