Evoke’s first half revenue stood at £862 million, consistent with the company’s July profit warning and marking a 2% decline year-over-year.
CEO Widerström highlighted the ongoing transformation aimed at driving mid- and long-term growth for the business.
Evoke faces revenue dip amid UK retail sector struggles
Evoke reported a significant decline in revenue attributed to ongoing challenges in the UK’s retail sector and a disappointing ROI on marketing investments for UK online operations.
Adjusted EBITDA saw a 26% decrease, landing at £115.5 million, while marketing expenses surged by 12% year-over-year.
Evoke rebrands for sustainable growth, forecasts revenue increase
Evoke has undergone a strategic review resulting in a repositioning and rebranding effort aimed at achieving sustainable growth. The company is projecting revenue growth in the second half of the year coupled with significant cost savings to boost profitability.
Key highlights
| Metric | First Half | Second Half (Forecasted) |
|---|---|---|
| Revenue Growth | 2% | 8% |
| Cost Savings | $1M | $3M |
With these strategic measures, Evoke aims to establish itself as a market leader while enhancing shareholder value.
Evoke reaffirms fy2025 outlook: EBITDA margin of 20%
Evoke maintains its FY2025 expectations, targeting a 20% EBITDA margin and aiming for consistent medium-term revenue growth. Widerström expressed strong confidence in the company’s ability to deliver on its value creation plan and drive sustainable growth.
