ZEAL targets further growth after revenue jump in 2014

ZEAL Network, the online lottery specialist that last year rebranded from Tipp24, is to target further success this year after it posted a year-on-year jump in revenue during 2014.

Full-year revenue at the company amounted to €140.7 million ($152.2 million) in 2014, up 8.3% from the €129.9 million achieved in the previous year.

Earnings before interest and tax (EBIT) fell slightly to €19.2 million in the past 12 months, but ZEAL noted that this figure was in line with a revised forecast.

The company noted that it expects to post EBIT of between €35 million and €45 million in 2015.

ZEAL also recorded a heavy slump in net profit, which fell from €10.2 million in 2013 to just €4.2 million in the most recent 12-month period.

However, ZEAL noted that this was mainly a result of start-up costs at associated and joint venture companies, which it stated would help to drive growth this year.

Dr Hans Cornehl, chief executive officer of ZEAL, said: “In 2014 we laid the foundation for further growth.

“We sharpened our strategy, we implemented the necessary organisational and structural changes, we relocated and renamed our company, and we started numerous business initiatives to execute our strategy.

“We are confident that we have created excellent prerequisites for future sustainable growth, fully supporting our vision to create a better world of lottery.”

source : www.igamingbusiness.com

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