Zeal Network Posts Strong Results Boosted by Jackpots


Zeal Network, a leading operator in Germany offering online lottery products, released a new trading update Thursday. In its latest report, the company revealed that it has seen strong growth in business volume for the third quarter, which also boosted its results for the first nine months of the year.

Zeal Enjoys 14% Growth in Revenue

For the first nine months of 2022, the company reported revenue of €74.5 million ($75.5 million). When compared to the same period in 2021, when revenue halted at €65.1 million ($66 million), this year, an increase of 14% was observed. What’s more, Zeal’s transaction volume in the first nine months this year increased by 10% to €544.4 million ($552 million).

Further complementing the strong results, Zeal acquired 501,000 newly registered customers for the first nine months of this year. This marked a strong growth in the company’s customer base, considering that for the same period last year, the number of newly registered customers halted at 446,000.

According to Zeal’s trading update, the recent results received a strong boost from jackpots that set records for the period. The company pointed out that LOTTO 6aus49 lottery’s jackpot hit two times the €45 million ($45.6 million) mark, while Eurojackpot recorded its highest jackpot hitting €120 million ($121.7 million) in July for the first time. Without any doubt, those jackpots helped increase the number of newly registered customers.

The Company Plans Further Growth

The company’s chief financial officer (CFO), Jonas Mattsson, said that Zeal is proud of its ongoing growth and its results so far. He explained that to achieve the results the company completed strategic measures.

We are proud of our continued growth trajectory, which proves that we have also taken the right measures in the first nine months of 2022 to improve even further both in terms of customers and results.

Jonas Mattsson, CFO of Zeal

Recently, Zeal unveiled a public buyback offer for up to 714.285 shares. This corresponds to approximately 3.2% of the share capital. The price per share is €28.00 ($28.4), or some 9.9% above the “relevant stock exchange price of Zeal shares,” the company explained.

In addition, we look forward to continuing to make our products accessible to more and more new target groups through targeted partnerships, thus systematically further expanding our reach,

added Mattsson

Addressing this topic, Mattsson said: “With the share buyback offer, we want to further optimize the capital structure of Zeal Network SE.” Finally, the company’s CFO explained that Zeal plans to continue the expansion of its products and reach new customers via strategic partnerships.



Source link