HAMBURG (dpa-AFX) - In view of rising acquisition and marketing costs, lottery broker Zeal Network cannot rule out a decline in operating earnings this year. Although sales are expected to rise to 110 to 120 million euros in 2023, as the company announced on Monday evening surprisingly after the close of the stock exchange in Hamburg. However, the expenses for the acquisition of new customers and marketing will be at least about as high as in the past year, so that the operating profit will not be better in any case. Management expects earnings before interest, taxes, depreciation and amortization (Ebitda) to be between 30 and 35 million euros. In order to attract customers, the management wants to invest 34 to 39 million euros.

According to preliminary figures, Zeal increased its sales by more than a fifth to 105.2 million euros last year. Of this, 31.7 million euros remained as operating profit, 14 percent more than a year earlier. Here, too, the main reason was the increase in marketing costs, particularly in the second half of the year. They rose by over 50 percent to 34.1 million euros and thus accounted for the majority of operating expenses. Zeal plans to present its final figures on March 23./lew/jha/