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Tradedoubler interim report January – September 2016

THE THIRD QUARTER JULY – SEPTEMBER 2016

  • Net sales amounted to SEK 304 M (378). Net sales excluding change related items were SEK 302 M (378), a decrease of 20%.
  • Gross profit excluding change related items was SEK 68 M (79), a decrease of 15% or 12% adjusted for changes in exchange rates. Gross margin excluding change related items increased to 22% (21).
  • Operating costs excluding depreciation and change related items were SEK 63 M (82), a decrease of 23%.
  • EBITDA amounted to SEK 4 M (-3). Excluding change related items, EBITDA was SEK 4 M (-3).
  • Capitalised expenses for product development were SEK 9 M (8).
  • Cash flow from operating activities was SEK 5 M (-7) and the sum of cash and interest-bearing financial assets was SEK 224 M (310) at the end of the third quarter. Net cash in the third quarter decreased by SEK  3 M to SEK -24 M.
  • Earnings per share, before and after dilution were SEK –0.15 (-0.40).

THE INTERIM PERIOD JANUARY – SEPTEMBER 2016

  • Net sales amounted to SEK 998 M (1,224). Net sales excluding change related items were SEK 996 M (1,229), a decrease of 19%.
  • Gross profit excluding change related items was SEK 219 M (252), a decrease of 13% or 10% adjusted for changes in exchange rates. Gross margin excluding change related items increased to 22% (20).
  • Operating costs excluding depreciation and change related items were SEK 221 M (258), a decrease of 14%.
  • EBITDA amounted to SEK -4 M (-20). Excluding change related items, EBITDA was SEK -2 M (-6).
  • Capitalised expenses for product development were SEK 27 M (28).
  • Cash flow from operating activities was SEK -84 M (-37).
  • Earnings per share, before and after dilution were SEK –0.80 (-1.16).
  • In January 2016, Reworld Media S.A. increased its ownership in Tradedoubler from 17.8% to 29.95%.
  • Tomas Ljunglöf, CFO of Tradedoubler resigned in December 2015 and left the company after the Annual General Meeting on 3 May. Viktor Wågström, previous Head of group accounting, will be interim CFO until a permanent CFO is appointed. In October Viktor Wågström was appointed CFO permanently.
  • Tradedoubler expands to Asia with the opening of an office in Singapore.
  • In June Tradedoubler announced a minority investment in the video company DynAdmic.
  • In July 2016 Tradedoubler purchased a share in the French affiliate marketing company R-Advertising.

 

CEO MATTHIAS STADELMEYER’S COMMENTS

“The gross profit trend in Q3 is in line with recent quarters. We are continuing to focus on operating efficiently and as a result have reduced costs in some areas and delivered an improved positive EBITDA during the quarter.

TD ENGAGE is our full service programmatic solution that allows advertisers to target their customers throughout their online purchase journeys. We have now rolled it out in all markets and continue to see encouraging results and interest from clients. 

We have ambitious plans to expand our offering to address the broader digital marketplace: we will continue to develop new technologies that enhance our capabilities; we will seek out further strategic partnerships and acquisitions that extend our client-focused offering and will open new offices where we see the opportunity to develop our business. 

The positive developments that we have seen this year and our ambitious future plans mean that we are continuing to make good progress with bringing Tradedoubler back to profitable growth.”

Stockholm – 11 November 2016

Matthias Stadelmeyer

 

Contact information
Matthias Stadelmeyer, President and CEO, telephone +46 8 405 08 00
Viktor Wågström, CFO, telephone +46 8 405 08 00
E-mail: [email protected]

Other information
This information is information that Tradedoubler AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 11 November 2016. Numerical data in brackets refers to the corresponding periods in 2015 unless otherwise stated. Rounding off differences may arise.