The first quarter January – March 2020

• Net sales amounted to SEK 305 M (306) a decrease of -1% or -3% adjusted for changes in exchange rates compared to the same period last year.

• Gross profit adjusted for change related items was SEK 63 M (66), a decrease of -4% or -6% adjusted for changes in exchange rates. Gross margin adjusted for change related items was 20.7% (21.5).

• Operating costs excluding depreciation and change related items were SEK 49M (53), a decrease of -7%.

• EBITDA amounted to SEK 14 M (13). Adjusted for change related items, EBITDA was SEK 14 M (13).

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

• Cash flow from operating activities was SEK -4 M (-4) and the sum of cash and interest-bearing financial assets was SEK 39 M (33) at the end of the first quarter. Net cash in the first quarter decreased by SEK -17 M to SEK -103 M.

• Earnings per share, before and after dilution were SEK -0.12 (-0.05).

• The outbreak of covid-19 has had an impact on the results of the first quarter and especially in markets were the travel segment is a larger part of the business. The scale of the impact going forward is hard to estimate since various segments of the business are more or less impacted. In general Tradedoubler will have a negative impact on its revenues during this crisis. To some extent this will be offset by cost reductions.

CEO comments

“Tradedoubler´s business in the first quarter 2020 continued with the positive trend of Q4 2019 until being impacted by the covid-19 crisis from the beginning of March.

The crisis impacts business segments in different ways. The travel segment declined sharply while other retail segments benefit from increased online sales. These impacts are reflected in our revenues with a negative impact in the markets where we have a high share of travel business like the UK, France, the Netherlands, Italy and Spain. Other segments compensated for this decline, but in these markets only partially.

As the crisis started in March the full impact will be seen only in the coming months and quarters and will depend on macro-economic circumstances and governmental regulations. The scale of the impact is hard to estimate as these circumstances in the markets change constantly.

We have reacted to this crisis quickly and have been able to adjust costs significantly. This has been done in close collaboration with all teams and with the focus to protect both the company and the employees that work at Tradedoubler. With these measures EBITDA is stable and at the same level as last year.”

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