Evoke (LSE: EVOK) has reported a period of significant financial recovery and strategic progress, with its H1 2025 results revealing substantial growth in profitability.
For the six months ending June 30, 2025, the group posted revenue of £887.8 million, a 3% year-on-year increase, while adjusted group EBITDA surged by an impressive 44% to reach £165.9 million.
This robust performance was largely fueled by the company’s international segment, which saw revenues climb 13%.
The division more than doubled its adjusted EBITDA to £86 million, benefiting from strength in core markets and platform enhancements.
In contrast, the UK & Ireland online segment experienced a 1% revenue dip, attributed to a tough comparative period in 2024, but saw profitability improve sharply with a 37% rise in adjusted EBITDA.
Evoke’s retail arm, though down 2% for the half-year, returned to growth in the second quarter following the successful rollout of 5,000 new gaming cabinets.
The company’s transformation strategy has yielded a statutory profit after tax of £5.4 million, reversing a £29.9 million loss from the previous year.
CEO Per Widerström commented on the results, stating:
We are seeing clear evidence of the transformation and operational reset we’ve undertaken.
This turnaround is built on strategic pillars including operational excellence, a renewed brand focus, and the scaling of AI and automation.
These initiatives have improved margins, reduced costs, and enhanced financial stability, with leverage decreasing from 6.7x to 5.0x.
With trading in the third quarter aligned with expectations, Evoke has reiterated its full-year guidance, forecasting revenue growth of 5-9% and an adjusted EBITDA margin of at least 20%.
The strong H1 of Evoke results underpin management’s confidence in continued improvement through the second half of the year.
