**Summary of Evoke PLCs H1 2025 Interim Results**
Evoke PLC, a leading global betting and gaming company, reported its H1 2025 interim results, showcasing a fourth consecutive quarter of growth and improved profitability. Key highlights include
**Financial Performance**
* **Revenue Growth** Group revenue increased by 3% year-over-year to £887.8 million, driven by strong international growth (13%) and a return to growth in the retail segment in Q2.
* **Adjusted EBITDA** Adjusted EBITDA surged by 44% to £165.9 million, with a significant improvement in margins due to higher gross margins, effective marketing, and operational efficiency.
* **Profitability** Reported EBITDA more than tripled to £141.3 million, reflecting reduced exceptional items and improved operational performance.
* **Deleveraging** The company made significant progress in reducing leverage, with a 1.7x reduction year-over-year to 5.0x at 30 June 2025.
**Strategic Progress**
* **Operational Excellence** Evoke continued to scale AI and automation across its operations, enhancing efficiency and customer experience. This led to an 11% increase in Average Revenue Per User (ARPU) in H1 2025.
* **Brand and Product Development** The company launched William Hills new Customer Value Proposition (CVP) and introduced new gaming machines, improving the retail experience. Online product improvements included a simplified user experience and new free-to-play games.
* **Marketing Effectiveness** Evoke shifted its marketing approach from promotions-led to product-led, boosting customer engagement and brand differentiation.
**Outlook**
* **Revenue Growth** Evoke maintained its FY 2025 revenue growth target of 5-9%, with Q3 revenue in line with plans.
* **Profitability Improvement** The company expects further improvements in profitability in H2 2025, driven by enhanced operating leverage and continued operational efficiency initiatives.
* **Medium-Term Targets** Evoke remains on track to achieve its medium-term targets, including 5-9% annual revenue growth, approximately 100bps of Adjusted EBITDA margin expansion per year, and leverage below 3.5x by the end of 2027.
**CEO Commentary**
Per Widerström, CEO of Evoke, highlighted the companys successful transformation and operational reset, resulting in continued revenue growth, improved profitability, and meaningful deleveraging. He expressed confidence in Evokes ability to drive further progress, supported by its leading market positions, established brands, and strong product pipeline.
**Key Metrics**
* Revenue£887.8 million (H1 2024: £862.0 million)
* Adjusted EBITDA£165.9 million (H1 2024: £115.5 million)
* Reported EBITDA£141.3 million (H1 2024: £43.8 million)
* Net Debt: £1818.2 million (H1 2024: £1727.1 million)
* Leverage Ratio5.0x (H1 2024: 5.7x)
Evoke PLCs H1 2025 results demonstrate the companys successful execution of its strategic plan, with strong financial performance, operational improvements, and a positive outlook for the remainder of the year.
