As a continuation of the programme it began in November 2012, Tradedoubler has announced new measures to strengthen the foundations for profitable growth.
Building on the success of the programme it began in November 2012, Tradedoubler has announced a series of measures that will give the company an increased focus on delivering its performance marketing solution in its core markets.
The Nordic operations will be restructured and will be operated from Stockholm. This means that the offices in Helsinki and Copenhagen will close. In addition, all offices and corporate support functions will be streamlined to deliver greater efficiencies throughout the organisation. The changes will result in job losses across the business.
During 2013 the campaign business has continued to decline as per Tradedoubler’s strategic direction and, as a result, all campaign activity will be integrated into the affiliate business, delivering further operational efficiencies.
A growing number of administrative functions will be centralised through Tradedoubler’s office in Telford, UK.
Speaking about the changes, Rob Wilson, President and CEO of Tradedoubler said:
“The measures we are taking build on the restructuring programme that we began in 2012 and will enable us to focus on our core performance marketing solution in key European markets, delivering sustainable, profitable growth.”
As a result of the restructuring measures, Tradedoubler’s results for the fourth quarter of 2013 will be subject to restructuring charges amounting to SEK 22 million the majority of which will impact cash flow in 2014. Once the measures are fully implemented they will provide cost savings equal to SEK 55 million annually, with full impact from H2 2014.
In addition to the costs for the efficiency measures, Tradedoubler’s results for the fourth quarter will be impacted by write-downs of intangible assets, related to administration and support, amounting to approximately SEK 10 million.
Tradedoubler recently announced the issue of a bond of SEK 250 million, which will enable the company to strengthen its core business during 2014 by capitalising on strong foundations in core markets. Commenting on the bond issue, Rob Wilson said, “We were very pleased with the strong interest in the bond among investors. The oversubscribed issue strengthens our financial position and is an important step in improving our long-term prospects for expansion”.
Stockholm 30 December 2013
TradeDoubler AB (publ.)
The information in this announcement is required to be disclosed by TradeDoubler AB under the Swedish Securities Markets Act (Sw. lagen om värdepappersmarknaden). This information was released for publication at 08.00 CET on December 30 2013.
For further information, please contact:
Rob Wilson
President and CEO
Phone: +44 7500667587
E-mail: rob.wilson@tradedoubler.com
About Tradedoubler
Tradedoubler is an international leader in performance-based digital marketing and technology. Founded in Sweden in 1999, Tradedoubler pioneered affiliate marketing in Europe and remains the most successful pan-European performance marketing company, combining strategic international insight with detailed in-country expertise. It helps 2,000 advertisers achieve their business goals through its high quality network of 140,000 publishers and was the first to offer an integrated e- and m-commerce offering to help advertisers extend their online programmes to users on mobile devices.
Tradedoubler is committed to close collaboration with each customer, helping them to generate revenue and succeed on a national and international scale. Among Tradedoubler’s advertisers are American Express, ClubMed, Disney, Expedia and CDON. The share is listed on Nasdaq OMX on the Stockholm Exchange. More information can be found on www.tradedoubler.com