Tradedoubler Interim Report January - June 2022

The second quarter, April – June 2022

• Total revenue amounted to SEK 383 M (333) an increase of 15% or 12% adjusted for changes in exchange rates compared to the same period last year.
   
• Gross profit was SEK 81 M (67) an increase of 21% or 18% adjusted for changes in exchange rates. Gross margin was 21.2% (20.2). 
   
• Operating costs excluding depreciation and adjusted for change related items were SEK 64 M (51), an increase of 27% or 24% adjusted for changes in exchange rates. 
   
• EBITDA amounted to SEK 16 M (16). Adjusted for change related items, EBITDA was SEK 17 M (17).
   
• Investments in immaterial assets, mainly related to product development, were SEK 7 M (7).
   
• Cash flow from operating activities was SEK 10 M (8).
   
• Earnings per share, before and after dilution were SEK 0.08 (0.34).

The interim period January – June 2022

• Total revenue amounted to SEK 787 M (690), which is an increase compared to the same period last year by 14% or 11% adjusted for changes in exchange rates.
   
• Gross profit was SEK 164 M (135) an increase of 21% and 18% adjusted for changes in exchange rates. Gross margin excluding change related items was 20.9% (19.6).
   
• Operating costs excluding depreciation and adjusted for change related items were SEK 125 M (103), an increase of 22% or 19% adjusted for changes in exchange rates. 
   
• EBITDA amounted to SEK 38 M (30). Adjusted for change related items, EBITDA was SEK 39 M (32).
   
• Investments in intangible assets, mainly related to product development, were SEK 14 M (14). 
   
• Cash flow from operating activities was SEK 18 M (-5) and the sum of cash and interest-bearing financial assets was SEK 85 M (55) at the end of the period. Net cash in end of the year was SEK -6 M (-59).
   
• Earnings per share, before and after dilution were SEK 0.27 (0.33).
   
• In the first quarter, Tradedoubler acquired approximately 30% of the shares in the online video shopping company Onbaz, a Swedish startup technology company. The purchase and partnership agreement signed with Onbaz will give the group access to technologies that complement and extend its current offering and products within the growing market of influencer marketing.

CEO Matthias Stadelmeyer's comments

Tradedoubler´s business continued to develop positively in the second quarter of 2022 and we were able to make another few steps forward in realizing results based on our amended market position and product portfolio. 

Total revenue in Q2 grew by 12%, gross profit by 18% and EBITDA was SEK 16, all figures on currency adjusted comparison and without change related items.

Despite the macro-economic uncertainties we receive mainly positive signals from advertisers and partners. Our clients have ambitious growth targets and continue to invest significantly in performance marketing using our product portfolio of affiliate marketing, influencer marketing through the brand Metapic, app-install-business through the brand Appiness, and supporting display campaigns for brand awareness.

Our new products Metapic, Grow and Appiness continue to increase their share in our business and contribute now posivitively to the EBITDA result.

We see positive development in many industry verticals. Travel has the highest growth rates and is on pre covid levels now. 
While there are some differences in the development of the regions due to different client portfolios and market environment, we have solid growth rates in all of them. 

The increase of operational expenses compared to last year is directly linked to increased business activity as well as investments in our product platform and into the growth areas Metapic, Grow and Appiness.

In the coming quarters we will continue to further build on our market position and product portfolio. With these assets we will be able to continue our mission to grow the business of our clients and partners with meaningful results for all stakeholders. We enjoy a lot what we do and continue our mission with passion and courage. I look forward to your continued company on this journey.
 

Contact information

Matthias Stadelmeyer, President and CEO, telephone +46 8 405 08 00   
Viktor Wågström, CFO, telephone +46 8 405 08 00   
E-mail: [email protected]

Other information

This information is information that Tradedoubler AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 21 July 2022. Numerical data in brackets refers to the corresponding periods in 2021 unless otherwise stated. Rounding off differences may arise.