For six months, evoke posted adjusted EBITDA of £165.9 million, up 44%
LONDON:evoke Plc (LSE: EVOK), the global betting and gaming group behind brands such as William Hill, 888, and Mr Green, reported a fourth consecutive quarter of growth and a sharp rise in profitability for the first half of 2025, driven by strategic transformation and operational efficiencies.
For the six months ended June 30, evoke posted adjusted EBITDA of £165.9 million, up 44% year-over-year, while last twelve-month (LTM) adjusted EBITDA reached £363 million. Group revenue rose 3% to £887.8 million, with international markets delivering standout performance.
The Group’s reported EBITDA more than tripled to £141.3 million, reflecting reduced exceptional costs, including the prior year’s exit from the US B2C market. Adjusted profit after tax swung to £5.4 million, compared to a £29.9 million loss in H1 2024.
CEO Per Widerström attributed the results to a strategic reset and investment in core capabilities. “We are seeing clear evidence of the transformation and operational reset we’ve undertaken,” Widerström said. “Having delivered four consecutive quarters of growth, we are well positioned to drive continued progress.”
Segment highlights included:
- International revenue surged 13% (+15% constant currency), with adjusted EBITDA more than doubling to £86 million.
- UK&I Online revenue dipped 1% due to the absence of the Euros and a shift in marketing strategy, but profitability rose 37% to £60 million.
- Retail revenue declined 2%, though Q2 saw a return to growth following the rollout of 5,000 new gaming cabinets.
evoke’s strategic focus on AI-driven automation, customer lifecycle management, and brand-led product innovation contributed to an 11% increase in average revenue per user (ARPU). The Group also reported a significant reduction in leverage to 5.0x, with £121 million in cash and £250 million in total liquidity.
Looking ahead, evoke reaffirmed its full-year guidance of 5–9% revenue growth and an adjusted EBITDA margin of at least 20%. The Group expects further margin expansion and leverage reduction through 2027.