Zeal Network SE reports 10% revenue increase for 2023

Zeal Network SE reports 10% revenue growth in 2023 with new online games launch and market share increase. 

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Zeal Network SE has released its annual report for the fiscal year 2023, showcasing growth in key financial metrics and strategic advancements. 

During the fiscal year 2023, Zeal Network experienced notable growth in billings and revenue. Billings (aka ticket sales) in the lottery sector surged to €843.3m ($915.2m), representing a double-digit increase from the previous year. 

Similarly, revenue witnessed growth, reaching €116.1m, an increase of around 10%. Despite operating in a challenging jackpot environment, Zeal Network achieved a new five-year high in EBITDA, totalling €32.9m. 

A milestone for Zeal Network in 2023 was the launch of its online games offering. The introduction of online games via the web stores of its subsidiary Lotto24 AG garnered billings of €41.6m in its inaugural year, contributing to the company's diversification strategy. 

Helmut Becker, Zeal Network CEO, said: "In 2023, we further expanded our position as a market leader. We are benefiting from our strong brands. Lotto24, for example, has developed into a winner's factory, producing more record winners last year than any other lottery provider in Germany. Our strong top and bottom-line results and our market share, which has grown to 41.4%, show that we are on the right track. We are therefore looking to the future with determination and confidence."

The growth in billings and revenue was driven by heightened customer engagement and targeted marketing initiatives, as per Zeal's report.

Despite a decline in customer acquisitions compared to the previous year, attributed to challenging jackpot conditions, Zeal Network's strategic investments in brand development and marketing activities supported its continued growth trajectory, according to the operator.

Looking ahead to 2024, Zeal Network aims to consolidate its market position within online lottery products, accelerate growth in the online games segment and introduce new products in the charity lottery segment. 

The company forecasts revenue in the range of €140m to €150m for the fiscal year 2024, with expected EBITDA between €38m and €42m, contingent on average jackpot development.

In related news, Zeal Network was accepted into the World Lottery Association (WLA) for its commitment to industry standards and responsible gaming practices. Additionally, Zeal Network attained a German virtual slot games licence in April 2023, expanding its offerings in the country's gaming market.

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