Interim report Janaury-June 2009
Implemented cost-saving measures have full effect in the end of the quarter
January - June 2009
Revenue amounted to SEK 1 578.3 million (1,853.9).
Gross profit amounted to SEK 374.3 million (371.2).
Operating profit (EBIT) amounted to SEK 60.2 million (93.2).
Net profit amounted to SEK 53.3 million (56.0).
Earnings per share after dilution amounted to SEK 1.87 (1.96).
April - June 2009
Revenue amounted to SEK 734.0 million (866.9).
Gross profit amounted to SEK 187.4 million (180.4) and gross margin amounted to 25.5 (20.8) per cent.
Operating profit (EBIT) amounted to SEK 33.5 million (40.7) and EBIT-margin amounted to 4.6 (4.7) per cent.
Net profit increased amounted to SEK 33.4 million (17.2).
Earnings per share after dilution amounted to SEK 1.17 (0.6).
The transaction margin for the quarter was 21.3 (22.9) per cent and the margin for Search was 8.6 per cent (6.3). .
Costs for previously announced staff reduction had a negative effect on operating profit of SEK 13.6 million.
Currency effects net had a positive effect on operating profit of SEK 10.0 million.
Cash flow from operating activities was SEK -39.4 million (-70.7).
Consolidated net debt was amounted to SEK 153.6 million (339.5).
April - June 2009
CEO's comments
"The economic climate impacts us, but as a leading player we are well positioned with geographic presence on 19 markets, long experience, unique competence and an extensive product portfolio. Our offering of performance-based digital marketing is the right one for these times. As media consumption becomes increasingly digital, so an ever greater proportion of advertising investments will be made online.
During the quarter our previously announced cost-saving measures started their full impact, and we now have an adjusted cost base. We are focusing heavily on intensified and integrated sales initiatives, both locally and internationally. Among other things, during the quarter we won new international accounts for Disneyland and Nokia. The UK market continues to be weak. We are therefore making management changes and have injected additional central resources exploiting potential synergies and efficiency.
My strategic priorities for 2009 remain firm: ensuring continued good margins, leveraging the potential inherent in the acquisition of the IMW Group and establishing a solutions-oriented sales model. TradeDoubler shall continue to offer international and local clients products and services within digital marketing that create measurable sales results."
Örjan Frid, President and CEO
"The economic climate impacts us, but as a leading player we are well positioned with geographic presence on 19 markets, long experience, unique competence and an extensive product portfolio. Our offering of performance-based digital marketing is the right one for these times. As media consumption becomes increasingly digital, so an ever greater proportion of advertising investments will be made online.
During the quarter our previously announced cost-saving measures started their full impact, and we now have an adjusted cost base. We are focusing heavily on intensified and integrated sales initiatives, both locally and internationally. Among other things, during the quarter we won new international accounts for Disneyland and Nokia. The UK market continues to be weak. We are therefore making management changes and have injected additional central resources exploiting potential synergies and efficiency.
My strategic priorities for 2009 remain firm: ensuring continued good margins, leveraging the potential inherent in the acquisition of the IMW Group and establishing a solutions-oriented sales model. TradeDoubler shall continue to offer international and local clients products and services within digital marketing that create measurable sales results."
Örjan Frid, President and CEO