ZEAL Network SE Reports Strong Start in 2024 with Significant Revenue Growth

ZEAL Network SE, a prominent German online lottery provider, has announced a robust performance for the first quarter of 2024. The company reported a substantial 35% rise in revenue to €36.1 million compared to the prior year. This growth is largely driven by a 22% increase in lottery billings and a remarkable 28% rise in revenue from lottery services. The introduction of new games also added to this upward trend with revenues surging by 20% from the previous quarter.

Alongside revenue gains, ZEAL Network successfully acquired significantly more new customers, doubling the amount from the same period last year. Effective cost management was noted, with customer acquisition costs decreasing despite nearly a twofold increase in marketing expenditures. Additionally, the company achieved a slight 1% increase in EBITDA, amounting to €9.4 million, even after absorbing higher operational outlays and a negative one-off financial impact from its charity lottery.

With the successful expansion of its customer base and game offerings, ZEAL Network reasserts its competitive stance and promising future outlook. The reported period also noted a strategic move with the LOTTO24 squeeze-out, aimed at boosting efficiencies and leveraging upcoming opportunities within the market.