Online lottery specialist Zeal Network has had a solid 2017 so far, with growth in billings, revenues and active customers.
Billings increased by €3.4m to €136.4m in the six month period ending June 30.
This, together with a reduction in exceptional prize payouts of €2m compared to the prior period, drove the year-on-year increase in TOP of six per cent to €65m.
In the first six months, EBIT decreased from €10.3m last year to €7.9m this year, primarily due to investments in marketing activities, higher personnel costs and higher hedging expenses.
Average monthly active users increased seven per cent to 387,000 for 2017, compared to the corresponding period in the prior year. Average billings per user decreased slightly to €55.24, influenced by new users and a shift in the product mix.
The company also invested €1.9m into Los Angeles-based startup Omaze, launched a Norway charity lottery product in partnership with UNICEF Norway, and launched the new Danke Million and Cash4Life products.
Dr Helmut Becker, chief executive officer of ZEAL, said: "In the first half of the year, we made good progress and stayed fully in line with our internationalisation strategy. Later this year, we expect to receive a licence to operate in the Czech Republic. Our innovative lottery products and long-standing experience help us to make successful new market entries. At the same time, we further push the expansion of our B2C product portfolio and make strategic investments, including our stake in Omaze."
