Redeye updates on Evolution post Q3-results which came in stronger than expected driven by better than forecasted revenue growth while profitability was in line with expectations.

• Operating revenues increased by 37.1% to EUR 378.5 million (276.0)
• EBITDA increased by 35.3% to EUR 261.0 million (192.9), corresponding to a margin of 69.0% (69.9)
• Profit for the period amounted to EUR 221.3 million (157.4)
• Earnings per share amounted to EUR 1.04 (0.73)

• Operating revenues increased by 36.5% to EUR 1,049.3 million (768.5)
• EBITDA increased by 38.1% to EUR 728.9 million (527.7), corresponding to a margin of 69.5% (68.7)
• Profit for t

As Evolution AB (publ) published on 22 June 2022, Evolution AB (publ)'s wholly-owned subsidiary, Evolution Malta Holding Limited ("Evolution"), has entered into an agreement to acquire the entire issued share capital of Nolimit City Holding Ltd for a consideration payable in cash (the "Transaction"). All regulatory approvals that the Transaction was conditional upon have been received, and Evolution has today completed the Transaction and acquired Nolimit City.

Redeye updates on Evolution post Q2-results which came in slightly lower than expected. While we trim our estimates (2022-24E EBITDA down c.