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ZEAL stock rises on robust FY 2024 results

Published 26/03/2025, 10:42
© Reuters.
TIMAn
-0.62%

Investing.com -- Shares of ZEAL Network SE (ETR:TIM) climbed 3.6% today after the company released its full-year 2024 financial results.

ZEAL reported a significant jump in customer acquisition, with 1.3 million new customers compared to 597,000 in the previous year. This surge in customer base, coupled with heightened marketing efforts and an exceptional jackpot year, propelled the company’s lottery billings by 28% to €1.1 billion, up from €843 million in 2023.

The company’s revenue soared by 62% to €188 million, surpassing the consensus estimate by 4%. Similarly, ZEAL’s EBITDA witnessed an 88% increase to €61.9 million, outperforming consensus expectations by 8%. This robust financial performance was attributed to the company’s online market share growth from 41.4% to 43.8%.

Looking ahead to 2025, ZEAL has set its revenue target between €195-205 million, assuming average jackpot trends, slightly above the consensus projection of €194 million. The EBITDA forecast is also optimistic, with the company expecting it to be in the range of €50-60 million, compared to a consensus estimate of €57 million.

In addition to its financial achievements, ZEAL announced a generous dividend proposal for 2024 at €2.40 per share, a substantial increase from €1.10 in 2023, totaling approximately €50.6 million in shareholder distribution.

However, the company also disclosed that CEO Helmut Becker will not renew his contract beyond January 2026. Becker, who has led ZEAL since September 2015, has committed to a dedicated effort until his term concludes, ensuring a smooth transition as the company begins its search for a successor.

Analysts from Jefferie commented on the financial results, stating, "The strong top- and bottom-line results are driven by a higher online penetration, market share gains, the strong jackpot development as well as the price increase in ticket fees in June 2024 and a change in the product mix."

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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