William Hill-owner Evoke maintains revenue climb guide as loss narrows
Evoke PLC on Wednesday maintained its revenue growth guidance for the whole of 2025, as it posted a narrowed pretax loss for the first half.
The Gibraltar-based betting and gaming operator and owner of the William Hill and 888 brands said its pretax loss narrowed to £77.7 million in the first half of 2025 from £147.0 million a year ago.
Adjusted earnings before interest, tax, depreciation and amortisation jumped 44% to £165.9 million in the first half of 2025,from £115.5 million a year ago. The adjusted Ebitda margin improved to 18.7% from 13.4%.
Revenue climbed 3.0% to £887.8 million from £862.0 million, while cost of sales were reduced 2.3% to £295.0 million from £301.8 million. What’s more, operating costs were cut by 14% to £310.2 million from £362.2 million and marketing expenses by 7.8% to £142.1 million from £154.2 million.
Looking ahead, Evoke maintained its revenue growth guidance, with third-quarter growth expected between 5% and 9%. The company said momentum was accelerating into the second half of 2025, mostly driven by enhanced operating leverage on expected revenue growth.
Evoke said it remains on track to deliver 2025 guidance of an adjusted Ebitda margin of at least 20%, compared to 17.8% in 2024, with unchanged medium-term targets of 5% to 9% annual revenue growth.
Chief Executive Officer Per Widerstrom said: ‘We are seeing clear evidence of the transformation and operational reset we’ve undertaken, with the group delivering continued revenue growth, significantly improved profitability and meaningful deleveraging during the first half of the year. The improved financial performance is a result of substantial strategic progress, focusing resources on our core markets and executing a short-term turnaround, while investing in building stronger capabilities to support long-term sustainable and profitable growth.’
Evoke shares were up 0.5% to 62.60 pence on Wednesday morning in London.
Copyright 2025 Alliance News Ltd. All Rights Reserved.