ZEAL Network SE Financial Results H1 2025 | Double-Digit Growth and Strong Profitability

ZEAL Network SE H1 2025: Key TakeawaysZEAL Network SE: Digital Growth Momentum Continues in H1 2025Presented by CFO Andrea Behrendt on seat11a.comZEAL Network SE continues its strong digital performance in H1 2025 with an impressive 76% growth in EBITDA, expanding customer numbers, and the successful scaling of its online games and charity lottery segments. In her seat11a.com presentation, CFO Andrea Behrendt highlights the successful execution of ZEAL’s long-term digital strategy, even in a challenging jackpot environment.H1 2025 Financial Highlights (vs. H1 2024): - Revenue: €101.5 million (+32.3%) - EBITDA: €35.4 million (+76%) - EBIT: €31.1 million (+92.5%) - Net profit after tax: €19.5 million (-47%, due to one-time tax gain in 2024) - EBITDA margin: 34.8% (vs. 26.2% in H1 2024)ZEAL’s core lottery business generated €90.9 million in revenue, while the games segment surged by 49%, reaching €6.7 million. Despite only two jackpot peaks vs. six in the prior-year period, the company maintained strong billings and successfully activated new customer cohorts, demonstrating the resilience of ZEAL’s customer acquisition strategies.Customer & Platform Growth: - Lottery billings: €527.3 million (+4%) - Monthly Active Users (lottery): 1.52 million (+12%) - Average billing per user: €58.03 (slightly down due to jackpot volatility) - Games MAUs: 26k (+32%) - Games ARPU: €42.40 (+15%)While new customer registrations were down 16% due to lower jackpot incentives, ZEAL still reached 499k new users, thanks to targeted brand marketing and platform engagement strategies. Cost-per-lead (CPL) rose to €46.93, reflecting broader media testing and inflation in media costs.Games & Platform Expansion:ZEAL now offers more than 480 online games, with strong usage growth and clear monetisation upside. The company continues to develop this vertical as a strategic pillar, targeting €14 million in annual games revenue in 2025.Traumhausverlosung Update: - 3rd draw concluded in June 2025, raising €1.6 million for charity - 4th draw (St. Peter-Ording) launched in September and shows very strong momentum - Total contributions to charity to date: €5.4 million - ZEAL expects over €30 million in billings from this segment in FY2025Operational Performance and Cost Dynamics: - Personnel costs rose 21% due to a 27% increase in headcount (from 195 to 247 FTE) and management restructuring - Marketing costs increased by 14%, reflecting stronger brand activity and market tests - Direct/indirect costs increased due to developer commissions, software, consultants, and one-off housing purchases associated with the raffle business - Despite these, EBITDA margin rose to 34.8%, highlighting solid operating leverage2025 Guidance Confirmed: - Revenue: €195–205 million - EBITDA: €55–60 million - Marketing spend: €60–70 million - Ongoing investments into charity lottery and online games▶️ Other videos: Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/ Company Presentation: https://seat11a.com/investor-relations-company-presentation/ Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/ Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ ESG Presentation: https://seat11a.com/investor-relations-esg/ T&C This publication is intended solely for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions as outlined on www.seat11a.com/legal and www.seat11a.com/imprint.