Half Year 2024 Evoke PLC Earnings Call Transcript
Key Points
- Q3 to date is in line with the 5% to 9% growth targets.
- Strong underlying progress in year-on-year growth rate and revenue growth in Q3.
- Successful launch of upgraded bet builder, driving improved revenue and profitability.
- Significant structural improvements and cost-saving measures implemented.
- Strong liquidity with nearly GBP300 million total liquidity at the end of June.
- First-half financial results were disappointing and not acceptable.
- Revenues down 2% and adjusted EBITDA margin of 13% to 14%.
- Net cash, excluding customer balances, dropped by GBP12 million in the half.
- Leverage increased from 5.6 times to 6.4 times.
- High marketing investment did not yield expected returns, impacting adjusted EBITDA.
Good morning, everyone, and thanks for joining us today for our H1 2024 results. I am Per Widerström and have now been the CEO of Evoke 10 months. We already gave you the key headlines of our first half and our trading update a month ago and action numbers for H1 are exactly in line with the guidance we gave. So we are going to keep today fairly brief.
I will start with a short summary, including the actions we are taking to address performance, including details of our current trading before Sean walks through the financials, and then I'll cover our strategic progress before taking your questions.
The first-half financial results are expected in line with our trading update announcement a few weeks ago. But let me start by reiterating what I said before that these results are disappointing and are not acceptable. We understand exactly what went wrong. And we have taken corrective actions to address the problems. This is what I will take you through in more detail shortly.
We are seeing good traction from
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
