In a preliminary results announcement, Zeal reported strong growth despite global uncertainty affecting the gambling industry. The company’s Chief Financial Officer, Jonas Mattsson, highlighted the ongoing investment in all areas of the business as a driving force behind the positive results in 2022 and the projected growth in 2023 and beyond.
For its 2022 financial year, Zeal expects revenue to reach €105.2m, a 21% increase from the previous year. Total group billings are forecast to increase by 16% to €758.4m, with a 29% increase in new customers compared to the previous year. This rise in customers was attributed to increased marketing activities during high jackpot phases.
Zeal noted key events in the preliminary results, including Lotto24 securing a follow-up license for lottery brokerage in Germany and a significant tax refund of around €54.0m received by MyLotto24.
Looking ahead to 2023, Zeal plans to further expand its market leadership by introducing new products, including online games. Billings for the Germany segment are expected to range between €800.0m and €830.0m, with revenue projected to be between €110.0m and €120.0m. EBITDA for the full year is expected to be in the range of €30.0m and €35.0m, with increased investment in customer acquisition leading to marketing expenses between €34.0m and €39.0m.
