ZEAL Network SE: A solid start to 2019
May 7, 2019 7:30 AM
DGAP-News: ZEAL Network SE / Key word(s): Quarterly / Interim Statement
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London, 7 May 2019
The first quarter of 2019 was the first reporting period following the closure of Lotto Network in November 2018 and the Group's Spanish consumer-facing business, Ventura24 S.L.U. ("Ventura24") in December 2018. Despite this and a lower number of large jackpots during the quarter having a negative impact on billings, revenue and TOP, performance was solid on a like-for-like basis.
The Group delivered:
ZEAL also continued to build on the positive customer acquisition trend it has developed in recent years. During the quarter, ZEAL delivered 182,000 new registered customers for the Group and its partners - a 30% increase year-on-year (2018: 140,000). Average Billings Per User were broadly maintained at EUR57.47 (EUR58.02).
Jonas Mattsson, CFO, ZEAL, said: "We delivered a positive EBIT performance, reduced our cost base and further improved our net cash position. These results highlight the strong position we have created for ZEAL and set us up well as we prepare to complete our acquisition of Lotto24. I look forward to next week's reunification of ZEAL and Lotto24 and, together, building our Group's future."
The acquisition of Lotto24 is expected to close on 14 May 2019 after 93.04% of Lotto24 shareholders accepted the voluntary public takeover offer within the two acceptance periods.
In view of the special situation created by the Lotto24 transaction and the transformation of ZEAL's core German business model later in 2019, ZEAL does not intend to provide any financial guidance at this point in time. ZEAL's dividend policy for 2019 is currently under review.
- ENDS -
Investor Relations contact:
Investor Relations Manager, ZEAL Network
T: +44 (0)20 3739 7123
|Company:||ZEAL Network SE|
|5th Floor One New Change|
|EC4M 9AF London|
|Phone:||+44 (0)203 739-7000|
|Fax:||+44 (0)203 739-7099|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||807621|
|End of News||DGAP News Service|