ZEAL achieves growth of more than 40 percent in revenue and earnings in the first half of 2024

EQS-News: ZEAL Network SE / Key word(s): Half Year Report ZEAL achieves growth of more than 40 percent in revenue and earnings in the first half of 2024 07.08.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. ZEAL achieves growth of more than 40 percent in revenue and earnings in the first half of 2024

• Number of new customers increases by 70 percent compared to the previous year
• Group revenue growth of 40 percent compared to the first half of 2023 to € 76.8 million
• Revenue from lottery business climbs by 33 percent
• EBITDA reaches € 20.1 million with growth of 46 percent compared to the previous year

 

Hamburg, 07 August 2024. ZEAL Network SE, the leading German online provider of lottery products, continued its strong growth path in the first half of 2024 with strong growth in revenue and EBITDA. Group revenue increased by 40 percent and reached € 76.8 million (2023: € 54.8 million). EBITDA increased even more strongly by 46 percent to € 20.1 million (2023: € 13.8 million).

"The very strong development of revenue and EBITDA reflects our excellent operating performance. We are particularly pleased that we have been able to acquire over half a million new customers since the beginning of the year. The acquisition of new customers has not only been exceptionally successful this half year, but also particularly efficient thanks to the significant reduction in acquisition costs per registered new customer. We are thus benefiting from the continuous investment in brand development in recent years," says Sebastian Bielski, CFO of ZEAL.

Revenue in core business grows by 33 percent
ZEAL's significant revenue growth in the first half of the year is primarily due to the strong development of the lottery business. Here, billings increased by 23 percent to €507.1 million, while revenue rose by as much as 33 percent to €68.0 million (2023: €51.2 million). The strong increase in billings is due to the 21 percent increase in the average number of active customers (1,353 thousand) and the 2 percent increase in the average billings per active user to € 62.48. In addition, ZEAL improved the gross margin in the lottery business to 13.4 percent (2023: 12.5 percent) thanks to a change in the product mix and further margin optimizations.