ZEAL Network SE

Recommendation

Buy

Price Target

€53.00

Upside

47.22%

Chart
  • 1M
  • 3M
  • 6M
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€36.00

(€0.10) (-0.28%)
Realtime-Data from 17.05.2024 19:43:50
ZEAL Network SE, Germany's leading online provider of state-licensed and other permitted lottery products, is a Hamburg-based e-commerce group that primarily brokers customer tickets to the state lottery companies via the lotto24.de and tipp24.com brands and receives a commission in return. The product range includes 'LOTTO 6aus49', 'Spiel 77', 'Super 6', 'Eurojackpot', 'GlücksSpirale', 'Keno', Lotto Clubs, 'Deutsche Fernsehlotterie' and 'freiheit+'. In mid 2023, ZEAL received the license to further offer virtual slot machine Games and currently rolls out this new business. The company was founded in Germany in 1999 as Tipp24 SE and initially operated as a lottery broker. In 2005, the company went public on the Frankfurt Stock Exchange (Prime Standard) and became one of the most successful IPOs in Germany. In 2009, the Group shifted its focus from lottery brokerage to the secondary lottery business. Shortly afterwards, it moved its headquarters to London and was renamed ZEAL Network SE in November 2014. In May 2019, ZEAL completed the acquisition of LOTTO24 AG, returned to the German brokerage business with the Tipp24 secondary lottery in October 2019 and relocated its headquarters back to Germany in the same month.
Ticker
TIMA GR
Market Cap
€804.94 M
Enterprise Value
€770.08 M
26 week avg vol.
3796
Primar Exchange
Frankfurt
IPO
2005
Sector
Other
Headquarters
Hamburg, DE
Employees
192
Incorporated
1999
CEO
Dr. Helmut Becker
Günther Group
35.17%
Working Capital
20.15%
Marc Peters
4.46%
Jens Schumann
3.58%
08.05.2024
Publication of Q1 report
28.05.2024
Annual General Meeting
07.08.2024
Publication half yearly financial report
06.11.2024
Publication of Q3 report

KPIs in EUR

KPI20242025e2026e
Sales149.50 M186.70 M211.50 M
EBITDA40.72 M59.54 M72.89 M
EBIT31.47 M50.28 M63.63 M
EPS0.821.421.85
FCF29.69 M43.30 M52.34 M

Valuation

KPI20242025e2026e
EV / Sales5.15x4.04x3.45x
EV / EBITDA18.91x12.66x10.02x
EV / EBIT24.47x14.99x11.48x
Price / Earnings44.08x25.43x19.50x
EV / FCF25.93x17.40x13.95x

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