Economic Highlights of the Quarter 📊
- Net revenue: €524.3m (+3.1% YoY) vs. market expectations of €517m;
- EBITDA: €345.3m (margin of 65.9%, in line with guidance of 66-68%);
- Operating profit: €306m (-2% YoY);
- Free Cash Flow: €192.3m (-31% YoY, due to taxes and increased NFM).
The second quarter was clearly not Evolution's best quarter. Profit for the quarter was €248.3m, down from €269.1m a year earlier, there was an increase in working capital requirements (which should be temporary) and there is no explicit guidance for 2026. However, in operational and strategic terms, I think the company is moving in the right direction. The work on regulatory discipline, geographical diversification and strong capital allocation are creating a stronger and more resilient Evolution for the future, while at the same time remunerating the shareholder. 📈
To find out more: https://dalemcapital.substack.com/p/evolution-ab-resultados-q2-de-2025?r=5
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$EVO (-0.57%)
$EVVTY (-0.65%)
