ZEAL revenue surges 62% to €188.2m in FY2024
Zeal Network SE achieved double-digit growth across key metrics in 2024, including a 62% increase in revenue and an 88% rise in EBITDA.
Key points:
Key points:
– Revenue rose 62% to €188.2m; EBITDA increased 88% to €61.9m
– Revenue rose 62% to €188.2m; EBITDA increased 88% to €61.9m
– Lottery billings surpassed €1bn for the first time
– Lottery billings surpassed €1bn for the first time
– New customer acquisition more than doubled to 1.26 million
– New customer acquisition more than doubled to 1.26 million
Zeal Network SE has reported a strong set of preliminary financial results for 2024, posting a 62% year-on-year increase in revenue to €188.2m ($203.2m) and an 88% rise in EBITDA to €61.9m.
The results mark the company’s best financial performance since its founding, supported by growth in its core German lottery business and the successful launch of a new charity product.
The company reached several operational milestones during the year, including its first-ever year with over one million new customers.
In total, 1.26 million customers joined Zeal’s platforms, more than doubling 2023’s figure of 597,000. Cost per lead declined by 23% to €35.16, underscoring increased marketing efficiency amid a year of elevated jackpot activity.
Billings from lotteries rose 28% to €1.08bn, passing the €1bn mark for the first time. Zeal’s average number of active customers grew 25% to 1.44 million, driven by strong product demand and performance in its flagship brand, LOTTO24.
Lottery revenue rose 59% to €168.3m, while the group’s online market share in Germany expanded by 2.4 percentage points to 43.8%.
A new product launch – the Traumhausverlosung (Dream House Raffle) – was a standout success in 2024, generating €1.8m for charity through the sale of 14 million tickets.
Good to know: Zeal partnered with DKMS as the lead beneficiary, contributing over €1.2m to the cancer research and donor registry charity
Good to know: Zeal partnered with DKMS as the lead beneficiary, contributing over €1.2m to the cancer research and donor registry charity
While operating expenses increased 58% to €98m – mainly from higher marketing and advisory costs – strong revenue growth and scale efficiencies more than offset the impact.
EBIT more than doubled to €53.7m and Zeal proposed a total dividend of €2.40 per share, including a €1.10 special dividend.
Following the completed squeeze-out of Lotto24 AG in October, Zeal is moving forward with a streamlined structure. For 2025, the group expects revenue of €195m–€205m and EBITDA between €55m and €60m, assuming stable market conditions.
Earlier this week, Zeal confirmed that CEO Dr Helmut Becker will not renew his contract in January 2026. Becker, who has served as CEO for a decade, stated he will pursue new entrepreneurial ventures following his departure.
