The second quarter April – June 2020

• Net sales amounted to SEK 287 M (289) a decrease of -1% or 0% adjusted for changes in exchange rates compared to the same period last year.

• Gross profit was SEK 64 M (65), a decrease of -1% and -1% adjusted for changes in exchange rates. Gross margin was 22.4% (22.5).

• Operating costs excluding depreciation and change related items were SEK 50M (56), a decrease of -11%.

• EBITDA amounted to SEK 14 M (7). Adjusted for change related items, EBITDA was SEK 14 M (9).

• Capitalised expenses for product development were SEK 6 M (5).

• Cash flow from operating activities was SEK 30 M (16) and the sum of cash and interest-bearing financial assets was SEK 49 M (39) at the end of the second quarter. Net cash in the second quarter increased by SEK 24 M to SEK -80 M.

• Earnings per share, before and after dilution were SEK 0.13 (-0.16).

• The outbreak of covid-19 has had a mixed impact on the results of the second quarter. Certain segments and markets have benefited from the situation while mainly the travel segment has declined sharply. Group management has taken an active role in controlling the company’s costs as a response to the covid-19 crisis, which has led to improved profitability compared to last year.

The interim period January – June 2020

• Net sales amounted to SEK 591 M (596) a decrease of -1% or -1% adjusted for changes in exchange rates compared to the same period last year.

• Gross profit was SEK 127 M (131), a decrease of -3% or -4% adjusted for changes in exchange rates. Gross margin was 21.6% (22.0).

• Operating costs excluding depreciation and change related items were SEK 99M (108), a decrease of -9%.

• EBITDA amounted to SEK 29 M (20). Adjusted for change related items, EBITDA was SEK 29 M (23).

• Capitalised expenses for product development were SEK 11 M (10).

• Cash flow from operating activities was SEK 25 M (11) and the sum of cash and interest-bearing financial assets was SEK 49 M (39) at the end of the interim period. Net cash in the interim period increased by SEK 6 M to SEK -80 M.

• Earnings per share, before and after dilution were SEK 0.01 (-0.21).

• The impact of the covid-19 crisis is hard to estimate going forward as most segments of the business are affected. The future short term earnings are very dependent on the macro-economic circumstances which can change daily. Due to these circumstances Tradedoubler has increased its ‘accounts receivable reserve’ during the second quarter.

CEO Matthias Stadelmeyer’s comments

“Tradedoubler´s results in the second quarter 2020 have been largely impacted by the covid-19 crisis which has affected all business segments and markets.

The travel segment which normally stands for around 20% of Tradedoubler´s net sales has declined by around 80% while all retail related segments have increased due to a higher demand for online sales. Markets with a high share of travel clients like France, the Netherlands and the UK have lower results, while the other markets have benefited from the situation.

As a result of all these movements between segments and markets our revenue and gross profit have been stable compared to last year.

A close management of costs including governmental support in some markets has helped to manage the crisis and even improve profitability.

The crisis will continue to impact our business in the coming quarters, but it is uncertain to what extent as the affect will depend largely on macro-economic circumstances.

The good result in Q2 has only been possible with a very close collaboration between all our teams and our clients and partners and with the high commitment of all employees which I find remarkable and am thankful for.”

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

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 27 August 2020. Numerical data in brackets refers to the corresponding periods in 2019 unless otherwise stated. Rounding off differences may arise.