Operator
[Audio Gap] [Operator Instructions] Now I will hand the conference over to the speakers CEO, Martin Carlesund; and CFO, Joakim Andersson. Please go ahead.
Martin Carlesund
Group Chief Executive Officer
Good morning, everyone. Welcome to the presentation of Evolution’s interim report for the third quarter of 2026. My name is Martin Carlesund, and I’m the CEO of Evolution. With me, I have our CFO, Joakim Andersson, as usual. I will start with some comments on our performance and then hand over to Joakim for a closer look at our financials. After that, I will conclude, and then we will open up for questions.
Next slide, please. Let’s start with the highlights. Net revenues were EUR 526.1 million, corresponding to a year-on-year increase of 3.7% and a quarter-on-quarter increase of 1.6%. Adjusted EBITDA came in at EUR 345.9 million, giving a margin of 65.8%. Adjustments include the U.K. gaming commission settlement of EUR 5.6 million and the Galaxy Gaming termination fee of EUR 6.5 million.
This was an uneventful quarter, which I believe is something good. On a quarter-on-quarter basis, all regions contributed to growth for the first time since 2024. The