ZEAL Reports Profitable Growth, Raises 2025 Forecast

ZEAL Network SE, Germany's prominent online lottery provider, announced a 34% increase in group revenue for the first nine months of 2025, reaching €162.6 million. This significant growth is coupled with a 55% surge in EBITDA, now at €54.1 million. Key factors include an expanded customer base and a higher gross margin within their lottery sector.

The "Dream House Raffle" lottery campaign achieved record billings with its fourth event. Revenue in the games sector also surged by 51%, driven by an extended portfolio and new partnerships. These expansions contributed to a noticeable increase in customer acquisition costs by 31%.

Despite rising marketing expenses, ZEAL's efficiency gains led to an improved EBITDA margin. Consequently, the company updated its 2025 revenue forecast to between €205 million and €215 million, with an EBITDA prediction of €63 million to €68 million.