ZEAL Network SE reported its highest first-half revenue on record, posting €121.8 million for H1 2026, up 20% year-on-year (H1 2025: €101.5 million). The Hamburg-based company said EBITDA rose 10% to €38.9 million (H1 2025: €35.4 million), while newly registered customers increased 32% to a record 659 thousand (H1 2025: 499 thousand).
“The first-half results confirm that our strategy is delivering: we are continuing to grow our core German business while at the same time diversifying ZEAL through our own scalable products. With freiheit+, the successful Traumhausverlosung and the newly launched Traumautoverlosung, we have established offerings that complement our strong market position while reducing our dependence on jackpot cycles. These are excellent prerequisites for sustainable profitable growth,” said Dr Stefan Tweraser, CEO of ZEAL Network SE.
The lottery segment remained the main driver, supported by a 9% increase in average monthly active lottery customers (MAU) to 1,653 thousand (H1 2025: 1,515 thousand) and a 13% rise in lottery billings to €595.9 million (H1 2025: €527.3 million). ZEAL attributed momentum to improved jackpot conditions late in the half and the April launch of its Dream Car Raffle (German name: Traumautoverlosung). Lottery gross margin increased to 18.2% (H1 2025: 17.3%), and lottery revenue rose 20% to €110.6 million (H1 2025: €91.9 million).
ZEAL said Dream Car Raffle is its third charity lottery in Germany, following freiheit+ and Dream House Raffle (German name: Traumhausverlosung). The company said its first “Season Zero” launched in April, and a Porsche GT3 RS was handed over to a winner in early July. For Dream House Raffle, ZEAL said three houses were raffled in H1 2026, including its eighth overall on 29 June after a 63-day campaign period. ZEAL also said it has contributed around €241 million to the public good in 2026 through lottery tax payments and charitable contributions.
In Games, ZEAL expanded its B2C portfolio to approximately 790 titles and reported monthly active users up 34% to 35 thousand (H1 2025: 26 thousand). Games revenue increased 17% to €7.8 million (H1 2025: €6.7 million).
The company confirmed full-year EBITDA guidance of €70–75 million, assuming a normal jackpot environment in Germany. ZEAL said the guidance update tied to its announced acquisition of SevenCanyon Ltd. includes one-off transaction expenses in the mid-single-digit million euro range and an expected 2026 EBITDA contribution from consolidating SevenCanyon. It added that updates to revenue guidance of €250–260 million will follow once the IFRS accounting treatment of SevenCanyon’s revenue has been finalised.
