Evoke has shared its trading update for the fourth quarter and the full year 2024. The company highlighted strong growth driven by its online segment and confirmed that FY24 earnings are projected to surpass market expectations. Below are the key details from the update:

  • Group revenue grew by approximately 12-13% year-over-year in Q4, with constant currency growth at 13-14%. The online segment performed particularly well, with growth of 16-17% (18-19% in constant currency), supported by improved performance in core markets and favorable sports results. H2 revenue growth is expected to be 8%, aligning with the higher end of its 5-9% guidance.
  • The company emphasized strong cost control and operational efficiency throughout the year. As a result, adjusted EBITDA for FY24 is forecast to reach £300-310 million, which is the high end of guidance and exceeds market expectations. Evoke noted the success of its transformation initiatives as a key driver of this outcome.
  • CEO Per Widerström stated, “I am pleased to report that the improving trends we announced in Q3 further strengthened into Q4, with the business delivering double-digit revenue growth. This momentum gives me real confidence that the turnaround is working.”
  • Evoke’s strategic focus on five core markets was highlighted as a major factor in its performance, contributing approximately 90% of Q4 revenue. The company has also worked on enhancing brand alignment and customer value propositions as part of its turnaround plan.
  • The company credited its disciplined strategy and operational excellence for the positive financial trajectory. It has focused on long-term growth and profitability by improving its competitive positioning and implementing a value creation plan that extends into 2025.