Zeal Network report robust quarterly results

Online lottery firm, ZEAL Network (formerly Tipp24) reported a robust start to 2015 in its latest quarterly report saying lower jackpot pay-outs and decreased operating expenses had a favourable impact.

For the first quarter 2015 period ending March 31, 2015, key performance highlights include:

Revenue amounting to Euro 34.9 million (Q1/2014: Euro 30.8 million), an increase of 13 percent.
Earnings before interest and tax of Euro 14.1 million (Q1/2014: Euro 1.3 million).
Consolidated net profit of Euro 9.5 million (Q1/2014: Euro 0.1 million).

On the back of the results, ZEAL paid out its first interim dividend of Euro 0.70 per share, saying the company is on track to deliver its total annual target of Euro 2.80 per share.

“Having laid the foundation for further growth in 2014, we are making good progress with our various business initiatives,” commented Dr Hans Cornehl, chief executive officer of ZEAL. “With its three strategic business areas, ZEAL is well positioned to capitalise on opportunities in our target markets in Europe and North America.

ZEAL expects to generate annual consolidated revenues of Euro 135 to Euro 145 million and increase EBIT to between Euro 35 and Euro 45 million.