Germany's ZEAL Network H1 revenue rises to record high

ZEAL Network SE

05/08/2026 06:42

Overview
Germany online lottery provider's H1 revenue rose 20% to record high
EBITDA for H1 rose 10% to €38.9 mln
Growth driven by core lottery business and new charity lottery launches

Outlook
ZEAL confirms 2026 EBITDA guidance of €70-75 mln, assuming normal jackpot environment
Company says 2026 EBITDA guidance reflects one-off SevenCanyon transaction expenses and consolidation
ZEAL to update 2026 revenue guidance after finalizing IFRS accounting for SevenCanyon

Result Drivers
LOTTERY CUSTOMER GROWTH - Co said increased number of active lottery customers and higher lottery billings drove revenue growth
CHARITY LOTTERY LAUNCHES - Co said new charity lotteries, including Dream Car Raffle, expanded portfolio and attracted new customers
GAMES BUSINESS EXPANSION - Co said revenue from Games grew due to expanded portfolio and larger user base

Company press release: ID:nEQ3s5YkGa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 EBITDA
 
EUR 38.90 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the casinos & gaming peer group is "buy"
Wall Street's median 12-month price target for ZEAL Network SE is €72.00, about 66.3% above its August 4 closing price of €43.30
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 23 three months ago

Reuters Recommended Reads
Aug 4 - UK's Brightstar Lottery Q2 revenue falls, reaffirms FY outlook
Aug 4 - Light & Wonder Q2 revenue rises on gaming operations
Aug 5 - Germany's Springer Nature H1 revenue up 6.2% on Research unit strength

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)