Zeal set to surpass financial expectations in 2016

Zeal has said that it was able to outperform guidance and expects to post better-than-expected financial results for the year ended December 31, 2016.

In a preliminary unaudited results notice, the firm said that revenue for the 12-month period amounted to €112.9 million ($119.5 million), up from €89 million posted in the previous year.

Total operating performance at Zeal came in at €139.6 million in the preliminary report, which, despite representing a drop on the amount reached at the end of 2015, is higher than the initial guidance of between €125 and €135 million.

In addition, earnings before interest and tax looks set to fall from €42.9 million to €37.9 million, but this figure is still higher than the €25-€35 million forecast.

Helmut Becker, chief executive of Zeal, said: “We are very pleased with the strong growth in customer activity, which is also reflected in our preliminary financials.

“Zeal was able to acquire significantly more paying customers; this confirms the attractiveness of our products and the effectiveness of our marketing activities.

“The excellent performance during the year has established a strong foundation for 2017.”

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