Evolution AB closed 2025 with full-year net revenues of EUR 2,066.5 million — up just 0.2% year-on-year — while reported EBITDA fell 9.2% to EUR 1.42 billion, with the reported EBITDA margin declining from 70.5% to 66.9%. Q4 2025 net revenues came in at EUR 514.2 million, a 3.7% decrease versus Q4 2024, though on a constant currency basis the quarter delivered approximately 4.9% growth.