ZEAL Network SE Announces Share Buyback and Strong Q3 Results

ZEAL Network SE revealed robust Q3 results, aligning with preliminary forecasts. The company announced a €25 million share buyback initiative, with a 10% premium on its current stock price, aimed at enhancing shareholder value. The buyback will run from November 18 to 29, 2024, targeting approximately 568,000 shares at €44 each.

Following this initiative, ZEAL anticipates reducing its outstanding shares by 5.7%, positively impacting earnings per share and dividends per share. Currently, ZEAL possesses 3.2% in treasury shares, set to be cancelled, with an additional prospective cancellation equating to 2.5% of shares.

The launch of the 'Dream House Raffle' saw significant success, drawing 417,000 customers and achieving €8.6 million in billings. A promising 43% billing margin resulted in €3.7 million in sales. Furthermore, the average revenue per user increased by 30%, with monthly active users growing by 10% year-over-year.