Zeal exceeds financial expectations in 2017

Zeal Group has confirmed it was able to achieve better-than-expected results in 2017, despite posting a drop in net profit.

Statutory revenue came in at €134.3m ($165.8m), while billings for the year for the year remained flat at €280.5m.

Total operating performance (TOP) at Zeal also increased from €139.6m to €141.2m.

However, statutory earnings before interest and tax (EBIT) dropped from €38m to €25.2m, while net profit also slipped from €26m to €17.2m.

Earnings per share for the year stood at €2.05, down from €3.09 in 2016.

Looking ahead to 2018, Zeal said EBIT should amount to between €33m and €43m, with TOP expected to come in at between €150m and €160m.

Dr. Helmut Becker, chief executive of Zeal Group said: “2017 was a milestone year for the Group as we made good strategic progress: launching in three new markets, improving our product portfolio, enhancing our technology, being even more efficient, attracting more new customers, and continuing to unearth the lottery disruptors of the future.”

“The global regulatory environment continues to be challenging; however, we firmly believe the world’s lottery market is full of untapped potential. As a diverse and long-term focused business, we are well positioned to take advantage of those opportunities.”

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