{"id":282,"date":"2024-06-28T22:43:02","date_gmt":"2024-06-28T19:43:02","guid":{"rendered":"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/28\/zeal-network-reports-e11-4-million-net-profit-in-2021\/"},"modified":"2024-06-28T22:43:02","modified_gmt":"2024-06-28T19:43:02","slug":"zeal-network-reports-e11-4-million-net-profit-in-2021","status":"publish","type":"post","link":"https:\/\/candylandcasinonodepositbonus.icu\/2024\/06\/28\/zeal-network-reports-e11-4-million-net-profit-in-2021\/","title":{"rendered":"Zeal Network Reports \u20ac11.4 Million Net Profit in 2021"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/jkyS9jnIlYw\" frameborder=\"0\" allowfullscreen><br>\n<\/iframe><\/p>\n<p>For the 2021 financial period, Zeal Network, a German lottery provider, realized a net profit of \u20ac11.4 million (\u00a39.5 million\/$12.5 million). This gain was primarily driven by substantial reductions in operational expenditures throughout the year.<\/p>\n<p>The company\u2019s income, including lottery insurance earnings, reached \u20ac86.8 million in the twelve months concluding December 31, 2021. This figure represents a slight decrease from \u20ac87 million in the preceding fiscal period.<\/p>\n<p>Zeal indicated that its core German operations contributed the majority of revenue, accounting for \u20ac78.5 million of the total. The remaining \u20ac4.9 million originated from other operations.<\/p>\n<p>The company also disclosed that the total group stake volume (encompassing wagers from all patrons) increased by 0.6% year-over-year to \u20ac656.5 million. However, Zeal noted that lottery payouts were \u201cless robust\u201d compared to the prior year.<\/p>\n<p>Zeal emphasized several key accomplishments in 2021, including extending an offer to acquire the remaining shares of Lotto24. This move would result in Zeal fully owning the online lottery brokerage firm that it spun off in 2012.<\/p>\n<p>Zeal currently holds 93% ownership of Lotto24. The agreement necessitates Lotto24 to delist its remaining shares from the Frankfurt Stock Exchange to facilitate Zeal\u2019s acquisition. <\/p>\n<p>Following the agreement on September 23, 2021, Zeal held 1,527,520 shares of Lotto24, which represented roughly 94.9% of Lotto24\u2019s total shares.<\/p>\n<p>Zeal also made changes to its leadership team, appointing Paul Dingwitz as the Chief Technology Officer and S\u00f6nke Martens as the Chief Operating Officer.<\/p>\n<p>In addition, Zeal reduced costs in various areas, such as decreased marketing spending for specific lottery games due to lower lottery payouts. Zeal explained that this limited market opportunities, leading to the reduction in spending.<\/p>\n<p>As a result, total operating expenses declined by 23.0%, with personnel costs down by 12.9%, marketing costs down by 27.0%, direct operating costs down by 11.6%, and indirect operating costs down by 30.8%.<\/p>\n<p>This resulted in an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increase of 117.6% compared to the previous year, reaching \u20ac27.7 million. After including \u20ac8.7 million in depreciation and amortization expenses, EBIT (earnings before interest and taxes) reached \u20ac19 million, representing a 254.3% increase compared to \u20ac5.4 million in 2020.<\/p>\n<p>Zeal also reported \u20ac2.1 million in financial expenses and \u20ac0.3 million in equity losses from associates, resulting in a pre-tax profit of \u20ac16.7 million.<\/p>\n<p>The company paid \u20ac5.3 million in income taxes, meaning it achieved a net profit of \u20ac11.4 million at the end of the fiscal year, a 44.5% increase compared to 2020.<\/p>\n<p>\u201cIn 2021, we showed that we can succeed even in a difficult market environment,\u201d said Jonas Mattsson, CFO of Zeal. <\/p>\n<p>Enthusiasm is anticipating a robust 2022, forecasting revenue of at least \u20ac105 million, a 21% upswing from 2021.  They also anticipate adjusted EBITDA to expand by at least 6% to \u20ac30 million.<\/p>\n<p>\u201cWe are assured in our capacity to sustain Zeal\u2019s prosperous growth in the future,\u201d remarked Helmut Becker, Chief Executive Officer of Zeal.<\/p>\n<p>Subscribe to the interactive gaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the 2021 financial period, Zeal Network, a German lottery provider, realized a net profit of \u20ac11.4 million (\u00a39.5 million\/$12.5 million). This gain was primarily driven by substantial reductions in operational expenditures throughout the year. The company\u2019s income, including lottery insurance earnings, reached \u20ac86.8 million in the twelve months concluding December 31, 2021. This figure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Zeal Network Profits Soar in 2021<\/title>\n<meta name=\"description\" content=\"German lottery provider Zeal Network sees strong profits in 2021, driven by cost reductions and steady income. 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