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ZEAL Network SE
XETRA:TIMA

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ZEAL Network SE
XETRA:TIMA
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Price: 50.2 EUR Market Closed
Market Cap: 1.1B EUR

ZEAL Network SE
Investor Relations

ZEAL Network SE is an online provider of lottery products. The company is headquartered in Hamburg, Hamburg and currently employs 157 full-time employees. The firm operates mainly under the brands Lotto24.de and Tipp24.com. The Company’s offer includes Lotto 6aus49, Spiel 77, Super 6, EuroJackpot, GlucksSpirale, syndicates, Keno and the German TV Lottery. ZEAL Network SE operates both domestically and abroad.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 5, 2025
AI Summary
Q3 2025

Strong Revenue Growth: ZEAL reported a 34% increase in revenues year-over-year, despite a weaker jackpot environment.

Margin Expansion: Gross margin improved significantly to 17.5%, driven by last year’s price increases and better product mix.

Customer Growth: The company added about 879,000 new customers in the first nine months, growing its active user base by 17%.

Profitability: EBITDA reached EUR 54 million, and guidance for full-year EBITDA was raised to EUR 63–68 million.

Updated Guidance: Management expects full-year 2025 revenues of EUR 205–215 million, reflecting upgraded targets.

Strategic Diversification: The Traumhausverlosung (Dream House Raffle) and games businesses showed strong traction, with games revenue up 51% year-over-year.

Active Marketing: Marketing spend increased by 35% as ZEAL invested in future growth and customer acquisition, adapting to higher media costs.

Conservative Q4 Outlook: Management described Q4 EBITDA guidance as conservative, aiming to maintain flexibility for further marketing investments.

Key Financials
Revenue
Up 34% YoY
EBITDA
EUR 54 million
Gross Margin
17.5%
Billings
Up 12% YoY
Monthly Active Users
Over 1.5 million
Average Spend per User
EUR 59 per month
New Customers Acquired
879,000 in first nine months
Cost per Lead (CPL)
EUR 46.5
Cost per Lead (Core Brokerage)
EUR 42.5
Games Revenue Growth
Up 51% YoY
Marketing Spend
Up 35% YoY
Earnings Call Recording
Other Earnings Calls

Management

Dr. Helmut Becker Ph.D.
CEO & Chairman of Management Board
No Bio Available
Mr. Sebastian Bielski
CFO & Member of Management Board
No Bio Available
Mr. Paul Dingwitz
CTO & Member of Management Board
No Bio Available
Mr. Frank Hoffmann
Senior Investor Relations Manager
No Bio Available
Mr. Carsten Muth
General Councel & Compliance Officer
No Bio Available
Matt Drage
Head of Communications
No Bio Available
Mr. Dirk Reiche
Vice President of Corporate Development
No Bio Available
Yvonne Grobbels
Director of People & Culture
No Bio Available

Contacts

Address
HAMBURG
Hamburg
Strassenbahnring 11
Contacts
+4940809036065.0
www.zealnetwork.de