A solid underlying performance in billings, revenue and total operating performance, despite the impact from the closure of Spain-facing Ventura24 and Lotto Network, helped Zeal Network record adjusted EBIT up 26.3 per cent, year-on year.
The group delivered billings of €67.4m, down 7.4 per cent year-on-year (2018: €72.8m), revenue of €36.5m, down 5.8 per cent year-on-year (2018: €38.7m) and adjusted EBIT of €11.6m, up 26.3 per cent year-on-year (2018: €9.2m). Costs were down 16 per cent.
Zeal also delivered 182,000 new registered customers for the group and its partners, a 30 per cent increase year-on-year.
Jonas Mattsson, CFO at 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.”
