Evolution Posts Revenue Growth Amid Regulatory Headwinds and Strategic Shifts

In its latest Q3 report, Evolution (STO: EVO) announced a 3.7% revenue increase, bringing the figure to €526.1 million ($590 million), underscoring what CEO Martin Carlesund described as a welcome period of stability despite notable regulatory turbulence in Brazil. The company’s adjusted EBITDA rose by 2.7% to €345.9 million ($388 million), although the adjusted EBITDA margin slipped from 66.4% to 65.8%. Net profit declined 3.6% year-on-year, reaching €243.3 million ($273 million). “This was an uneventful quarter, which I believe is something good,” Carlesund told analysts on an earnings call on Friday (October 23).