ZEAL Network SE Shows Strong Growth in First Half of 2025

ZEAL Network SE, a leading provider of online lottery services in Germany, has reported significant growth in key metrics for the first half of 2025. Revenue surged by 32% to €101.5 million, and EBITDA increased by 76% to €35.4 million. The company also marked a 12% rise in monthly active lottery customers, reaching 1.515 million. ZEAL's gross margin improved to 17.3%.

The lottery sector drove much of this growth, with revenues climbing 34% to €91 million. Despite lower jackpots, lottery billings increased by 4% to €527.3 million. The Games segment also thrived, with revenue up 49% to €6.7 million, thanks to an expanded portfolio.

Operational costs rose, partly due to increased strategic marketing and higher direct and indirect costs. Nonetheless, ZEAL's efficient business model enabled a 76% EBITDA rise, leading to a substantial EBIT growth of nearly 100%. The company remains optimistic about its forecast, highlighting confidence in its market position.