Stockholm, 30 October 2013
Continued earnings recovery, despite disappointing sales development
The THIRD quarter July - september 2013
· Net sales amounted to SEK 478.8 M (526.1), a decrease of 9.6 per cent
adjusted for changes in exchange rates. The volume drop in the non-strategic
campaigns business continued as anticipated during the third quarter. Net sales
within the performance marketing segment was negatively affected chiefly by two
factors in the third quarter. In France net sales were impacted by a significant
reduction within the e-mail channel which has historically been an important
traffic source. In addition, sales were impacted by the pause of a large pan-
European client which affected all markets. Excluding the market unit France &
Benelux the performance marketing segment continued to show a positive
development trend.
· Gross profit amounted to SEK 107.2 M (119.7).
· EBITDA amounted to SEK 20.6 M (-3.1), an increase of SEK 23.7 M. Total
costs excluding depreciation were reduced by SEK 36.3 M, or 29.4 per cent,
compared to the same period last year, a result of a more operationally
efficient business.
· Earnings per share, before and after dilution, increased to SEK 0.30 (-
0.25).
THE INTERIM PERIOD JANUARY - september 2013
· Net sales amounted to SEK 1,497.0 M (1,740.0), a decrease of 11.3 per
cent adjusted for changes in exchange rates.
· Gross profit amounted to SEK 340.6 M (406.9).
· EBITDA amounted to SEK 59.4 M (15.2), an increase of SEK 44.2 M.
· Earnings per share, before and after dilution, increased to SEK 0.75 (-
0.26).
changed outlook for net sales
· The outlook given in the second quarter 2013 interim report suggested
that the company was expected to return to net sales growth in line with the
market during the second half of 2013. The company now sees that this is not a
likely outcome. The efforts to return to profitable growth are intensified. For
more information regarding outlook, see page 9 in the report.
Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full year
FINANCIAL Change Change
OVERVIEW, SEK M 2013 2012 %(1) 2013 2012 %(1) 2012
-------------------------------------------------------------------------------
Net sales 478.8 526.1 -9.6% 1,497.0 1,740.0 -11.3% 2,307.7
-------------------------------------------------------------------------------
Gross profit 107.2 119.7 -11.7% 340.6 406.9 -14.0% 541.5
as a percentage 22.4% 22.8% 22.8% 23.4% 23.5%
of net sales
-------------------------------------------------------------------------------
Total costs
excluding -86.6 -122.9 -29.4% -281.2 -391.6 -26.7% -519.3
depreciation
average per -28.9 -41.0 -31.2 -43.5 -43.3
month
-------------------------------------------------------------------------------
EBITDA 20.6 -3.1 - 59.4 15.2 372.6% 22.2
as a percentage 4.3% -0.6% 4.0% 0.9% 1.0%
of net sales
-------------------------------------------------------------------------------
Adjusted 20.6 2.2 427.0% 59.4 35.5 81.1% 53.3
EBITDA(2)
as a percentage 4.3% 0.4% 4.0% 2.0% 2.3%
of net sales
-------------------------------------------------------------------------------
Operating profit 15.5 -7.8 - 45.7 2.1 - 0.0
(EBIT)
-------------------------------------------------------------------------------
Cash-flow from
operating 29.4 13.4 51.3 -8.3 -14.9
activities
Net investments
in intangible -6.3 -8.9 -22.7 -29.3 -36.2
assets
-------------------------------------------------------------------------------
Earnings per 0.30 -0.25 0.75 -0.26 -0.24
share, SEK
Cash-flow from
operating 0.69 0.31 1.21 -0.20 -0.35
activities per
share, SEK
-------------------------------------------------------------------------------
Return on equity 6.5 4.9 6.5 4.9 -1.9
(12 months) (%)
-------------------------------------------------------------------------------
(1)Per cent changes are adjusted for changes in exchange rates
(2)Adjusted for change-related costs in 2012
Presentation
This interim report will be presented at a teleconference on the 30(th) of
October 2013 at 10.00 a.m. CET. To attend the presentation, please dial (SE)
+46 8 519 993 52, (UK) +44 207 660 20 79 or (US) +1 855 716 15 98. 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 30(th)
of October 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.
[HUG#1739041]
Tradedoubler Interim report January - September 2013
| Source: TradeDoubler AB
Attachments
