Tradedoubler interim report January - March 2016
Continued positive gross profit developments.
THE FIRST QUARTER JANUARY - MARCH 2016
- Net sales amounted to SEK 372 M (432). Net sales excluding change related items were SEK 372 M (431), a decrease of 14%.
- Gross profit excluding change related items was SEK 81 M (89). This was a decrease of 10% and an improvement in the gross profit trend for the second consecutive quarter. Gross margin excluding change related items increased to 21.7% (20.7).
- Operating costs excluding depreciation and change related items were SEK 85 M (86), a decrease of 1%.
- EBITDA amounted to SEK -5 M (-4). Excluding change related items, EBITDA was SEK -4 M (3).
- Capitalised expenses for product development were SEK 10 M (12).
- Cash flow from operating activities was SEK -12 M (2) and the sum of cash and interest-bearing financial assets was SEK 322 M (365) at the end of the first quarter. Net cash in the first quarter decreased by SEK 25 M to SEK 75 M.
- Earnings per share, before and after dilution were SEK –0.40 (-0.23).
- In January 2016, Reworld Media S.A. increased its ownership in Tradedoubler from 17.8% to 29.95%.
- At an Extraordinary General Meeting on 11 February 2016, Pascal Chevalier (chairman) and Gautier Normand were re-elected as board members and Nils Carlsson, Jérémy Parola and Erik Siekmann were elected as new board members.
- Tomas Ljunglöf, CFO of Tradedoubler resigned in December 2015 and will leave the company after the Annual General Meeting on 3 May. Viktor Wågström, presently Head of group accounting, will be interim CFO until a permanent CFO is appointed.
CEO Matthias Stadelmeyer's comments
“This is the second consecutive quarter in which the gross profit trend improved year-on-year compared to previous quarters. This positive development is linked to increasing business from key clients and a general positive underlying trend across most countries. It is also the result of new product launches such as ADAPT, User Journey Reporting and Fingerprint Tracking and overall improvements to our systems and processes.
In April 2016 we launched TD ENGAGE which is a solution that helps online retailers to find new customers and allows Tradedoubler to address a larger part of the digital marketplace. TD ENGAGE uses a powerful combination of data and artificial intelligence to understand purchase behaviour and to accurately identify and reach both new and existing customers with relevant, targeted advertising. It is currently being rolled out in the UK and Germany with positive initial results and will be extended to our other markets over the rest of 2016.
In April 2016 we also relaunched our affiliate and technology offerings under the names of TD CONVERT and TD CONNECT, bringing greater clarity to how our suite of solutions creates smarter results for our clients. To showcase all our solutions in a more compelling way and drive increased engagement with clients and prospects we have developed a new corporate website, tradedoubler.com.
During the second quarter 2016 Tradedoubler will launch an initial version of Cross Device Tracking, a market-leading solution that will enable Tradedoubler to track the online purchase journeys of individual customers across multiple devices. To build on our heritage in innovation we recently launched TD Ventures, a business accelerator programme with a fund of €5 million to invest in digital start-ups. We are seeking companies that complement our existing business or that are pioneering new digital technologies. The development of these new client-led solutions and the launch of TD Ventures are integral to our strategy to address a broader digital marketplace.
We are making good progress with our continued work to bring Tradedoubler back to profitable growth.”
Other
Tradedoubler discloses the information provided herein pursuant to the Swedish Securities Markets Act. The information was released for publication on the 3rd of May 2016 at 08.00 a.m. CET. Numerical data in brackets refers to the corresponding periods in 2015 unless otherwise stated. Rounding off differences may arise.
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