The third quarter, July - September 2024

• Total revenue amounted to SEK 489 M (484) an increase of 1% or 2% adjusted for

  changes in exchange rates compared to the same period last year.

• Gross pro t was SEK 107 M (98) an increase of 8% or 10% adjusted for changes in

  exchange rates. Gross margin was 21.8% (20.3).

• Operating costs excluding depreciation were SEK 88 M (77), an increase of 13% or

  15% adjusted for changes in exchange rates.

• EBITDA amounted to SEK 18 M (21). Adjusted for change related items, EBITDA was

  SEK 19 M (21).

• Investments in immaterial assets, mainly related to product development, were SEK

  8 M (10).

• Cash ow from operating activities was SEK 31 M (3).

• Earnings per share, before and after dilution were SEK -0.06 (0.13).

The interim period, January - September 2024

• Total revenue amounted to SEK 1 494 M (1 411), which is an increase compared to the

  same period last year by 6% or 5% adjusted for changes in exchange rates.

• Gross pro t was SEK 322 M (296) an increase of 9% and 8% adjusted for changes in

  exchange rates. Gross margin excluding change related items was 21.5% (21.0).

• Operating costs excluding depreciation were SEK 266 M (233), an increase of 14% or

  14% adjusted for changes in exchange rates.

• EBITDA amounted to SEK 53 M (62). Adjusted for change related items, EBITDA was

  SEK 55 M (63).

• Investments in intangible assets, mainly related to product development, were SEK

  30 M (28).

• Cash ow from operating activities was SEK 26 M (31). The main reason to the

  decreased cash ow relates to a one-time payment to a publisher that amounted to

  approximately SEK 20 M during the second quarter. The payment related to

  commission earned during previous years.

• Earnings per share, before and after dilution were SEK -0.02 (0.27).

• During the third quarter Tradedoubler initiated a rights issue of SEK 50,5 M which

  was fully subscribed. The accounting impact and the cash ow effect of this issue will

  be affecting the fourth quarter.

• During the second quarter Emailing Network was acquired from the principal owner

  of Tradedoubler for an amount of 180 000 EUR.

• During the rst quarter Tradedoubler signed a short-term overdraft facility with its

  bank of SEK 15 M, at the end of the third quarter this facility was unused.

Letter from the CEO

Tradedoubler’s business in the third quarter of 2024 saw an increase in revenue of 2% on

a currency adjusted basis and 10% in gross profit (on currency adjusted basis). Adjusted

EBITDA was 19 M SEK which is a slight decrease from 21 M SEK in Q3 of 2023.

These Q3 results are achieved in an overall challenging market environment in global e-

commerce. Weak economies, high inflation rates and lower levels of income make

consumers reduce consumption and brands earn less. As a result, we are experiencing

challenges in some markets within our Partner Marketing business which declined

slightly by 2% in gross profit. The Influencer Marketing business, Metapic, compensated

this decline with a growth of 91% of gross profit. This growth is higher than the average

of recent quarters and partly achieved by lower comparison numbers in Q3 2023. These

numbers are all on currency adjusted basis.

While Q3 has shown strong increases in net sales in some markets, other markets

showed weaker growth rates or decline. Growth was achieved in the DACH region, the

South and in UK & Ireland, whereas France & Benelux and the Nordics decreased by -14%

and -5% respectively. R-Advertising and its email marketing business declined and is not

as profitable as before.

Despite said challenges and market headwinds, we are well prepared for the upcoming

quarters due to our diverse products, our growing market coverage and strategic

enhancements of our business. Our unique product mix ranging from Partner

Marketing, Influencer Marketing, App Marketing and other digital marketing business

lines makes us less dependant on external economic factors.

Our new brand platform was launched in September of 2024 and has been received very

well in our markets, both externally and internally. With our redefined strategy and

stronger focus on the core of our business – boosting partnerships – we aim to produce

considerable growth by growing our existing business and gaining market share, even if

market environments remain challenging.

At this point I would like to thank the Tradedoubler team for standing behind our new

brand strategy and the positive energy in “boosting partnerships”.

Contact information

Matthias Stadelmeyer, President and CEO

Phone +46 8 405 08 00

Viktor Wågström, CFO

Phone +46 8 405 08 00

E-mail: ir@tradedoubler.com

Other information

Tradedoubler discloses the information provided herein pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was released for publication on 19 July 2024 at 08.50 CET. Numerical data in brackets refers to the corresponding periods in 2024 unless otherwise stated. Rounding off differences may arise.