ZEAL raises guidance

ZEAL raises guidance

(Hamburg, 24 October 2024) According to preliminary calculations, ZEAL Network SE significantly increased revenue and EBITDA in the first nine months of 2024 due to good jackpots at the start of the year, successful customer acquisition and a higher gross margin. As a consequence, the guidance for 2024 has been raised.

Accordingly, the Company achieved revenue growth of around 41 percent to EUR 121.0 million (2023: EUR 86.0 million) in the first nine months of 2024 based on preliminary calculations. As a result of the significant increase in revenue and due to economies of scale, ZEAL was able to increase EBITDA in the first nine months of 2024 by around 51 percent to EUR 35.0 million (2023: EUR 23.2 million) on a preliminary basis.

Depending on the general conditions – in particular the further jackpot development – the Company now expects revenue for the 2024 fiscal year of between EUR 158 million and EUR 168 million (previously: EUR 140 million to EUR 150 million). ZEAL expects EBITDA to be in the range of EUR 42 million to EUR 46 million (previously: EUR 38 million to EUR 42 million).

The quarterly statement as of 30 September 2024 will be published on 6 November 2024.

EBITDA refers to the consolidated net profit before financial result, taxes, depreciation and amortisation and represents ZEAL's results from operating activities.