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Tradedoubler Interim report January - March 2009

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Strengthened transaction margins and implemented cost-saving measures provide stability in a weak economy.

Financial information (compared with corresponding period of preceding year)

  • Revenue amounted to SEK 844.2 M (987.0).
  • Gross profit amounted to SEK 186.8 M (190.9).
  • Operating profit amounted to SEK 26.7 M (52.5).
  • Net profit amounted to SEK 19.9 M (38.8).
  • Favorable margin trend - margins for td Affiliate and td Campaigns combined
    amounted to 24.0 per cent (22.3), while the margin for td Search was 11.0 per cent (6.5).
  • Earnings per share after dilution amounted to SEK 0.70 (1.36).
  • Consolidated net debt was reduced to SEK 106.4 M from SEK 153.4 M on December 31, 2008.
    Cash flow from operating activities was SEK 50.1 M (98.3).

Operational information

  • Increased demand for performance-based advertising, primarily within td Affiliate.
  • The td Campaigns and td Search products were affected by weaker economy,
    with UK operations most severely affected.
  • The previously announced cost savings reduced the underlying cost base by 6.0 per cent.
    The number of employees was reduced from 637 to 602 during the period.
  • Currency effects had a positive effect of SEK 8.7 M on operating profit. Gross profit was positively
    affected in an amount of SEK 15.9 M. At the same time, the cost base increased by SEK 7.2 M.
  • Further costs savings were implemented and about 45 persons will leave the Group through and including
    the third quarter 2009. Total restructuring costs are estimated at SEK 15.0 M, of which SEK 3.9 M was
    charged against earnings for the period.

CEO's comments "In terms of sales, 2009 began well and the transaction-based business developed strong. Despite weak economic conditions, we retained or exceeded our sales targets in virtually all markets except the UK. In the UK, the trend was weaker than expected, but we retained and strengthened our market position, although total market volume declined. I have respect for the challenges in the prevailing recession, and the strategic priorities for 2009 are retained: ensuring continued cost-efficiency, leveraging the potential in the acquisition of the IMW Group and establishing a more solutions-oriented sales model in the market".   Örjan Frid, President and CEO TRADEDOUBLER AB (PUBL)   For more information, please contact:
Örjan Frid, President and CEO
Tel. +46 8 405 08 00
Casper Seifert, CFO
Tel. +46 8 405 08 27
Ann-Charlotte Johansson, Group IR Manager
Tel. +46 8 405 08 05
 

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