Tradedoubler Interim Report January - June 2013
Stockholm, 26 July 2013
On the road to recovery
The second quarter April - June 2013
- Net sales amounted to SEK 490.3 M (573.7), a decrease of 10 per cent adjusted for changes in exchange rates. The anticipated volume drop in the non-strategic campaigns business continued during the second quarter, while the performance marketing segment showed continued positive development as the y/y revenue gap was reduced to 7 per cent, an improvement on the 11 per cent recorded in the first quarter.
- Gross profit amounted to SEK 114.0 M (140.8).
- EBITDA amounted to SEK 19.8 M (0.3), an increase of SEK 19.5 M.
- Earnings per share, before and after dilution, increased to SEK 0.17 (-0.25).
The interim period January - June 2013
- Net sales amounted to SEK 1,018.2 M (1,213.9), a decrease of 12 per cent adjusted for changes in exchange rates.
- Gross profit amounted to SEK 233.4 M (287.2).
- EBITDA amounted to SEK 38.8 M (18.4), an increase of SEK 20.4 M.
- Earnings per share, before and after dilution, increased to SEK 0.45 (-0.02).
Changed outlook for operating costs
- The monthly cost run rate for operating costs before depreciation and amortisation during the second quarter stood on average at SEK 31.4 M, below the outlook given in the first quarter 2013 interim report, of approximately SEK 33.5 M. Tradedoubler anticipates that the costs during the remainder of 2013 will continue at the same level as during the interim period January - June, approximately SEK 32 M on average per month. For more information regarding outlook see page 9 in the report.
| Financial overview, SEK M |
Apr-Jun | Apr-Jun | Change %1 | Jan-Jun | Jan-Jun | Change %1 | Full year |
| 2013 | 2012 | 2013 | 2012 | 2012 | |||
| Net sales | 490.3 | 573.7 | -10.0% | 1,018.2 | 1,213.9 | -12.1% | 2,307.7 |
| Gross profit | 114.0 | 140.8 | -15.2% | 233.4 | 287.2 | -15.1% | 541.5 |
| as a percentage of net sales | 23.2% | 24.5% | 22.9% | 23.7% | 23.5% | ||
| Total costs excluding depreciation | -94.2 | -140.5 | -30.8% | -194.6 | -268.8 | -25.4% | -519.3 |
| average per month | -31.4 | -46.8 | -32.4 | -44.8 | -43.3 | ||
| EBITDA | 19.8 | 0.3 | - | 38.8 | 18.4 | 178.2% | 22.2 |
| as a percentage of net sales | 4.0% | 0.0% | 3.8% | 1.5% | 1.0% | ||
| Adjusted EBITDA2 | 19.8 | 9.8 | 155.3% | 38.8 | 33.3 | 34.4% | 53.3 |
| as a percentage of net sales | 4.0% | 1.7% | 3.8% | 2.7% | 2.3% | ||
| Operating profit (EBIT) | 15.3 | -2.8 | - | 30.2 | 9.9 | 447.0% | 0.0 |
| Cash-flow from operating activities | 17.2 | -12.7 | 21.9 | -21.8 | -14.9 | ||
| Net investments in intangible assets | -8.2 | -12.2 | -16.3 | -20.4 | -36.2 | ||
| Earnings per share, SEK | 0.17 | -0.25 | 0.45 | -0.02 | -0.24 | ||
| Cash-flow from operating activities per share, SEK | 0.40 | -0.30 | 0.52 | -0.51 | -0.35 | ||
| Return on equity (12 months) (%) | 1.9 | 10.7 | 1.9 | 10.7 | -1.9 | ||
| 1 Per cent changes are adjusted for changes in exchange rates 2 Adjusted for change-related costs in 2012 |
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Presentation
This interim report will be presented at a press and analyst conference call on 26th of July 2013 at 10.00 a.m. CET. To attend the conference call, please dial (SE) +46 8 505 56481, (UK) +44 20 336 45373 or (US) +1 877 788 9023. The presentation may also be followed via webcast using the link: http://financials.tradedoubler.com/en-gb/investorrelations
Other information
Tradedoubler discloses the information provided herein pursuant to the Swedish Securities Markets Act. The information was released for publication on 26th of July 2013 at 08.00 a.m. CET.
The Group's numbers in this interim report are recognised excluding discontinued operations unless otherwise stated. Numerical data in brackets refers to the corresponding period in 2012 unless otherwise stated. Rounding off differences may arise.