The fourth quarter, October – December 2023

• Total revenue amounted to SEK 575 M (464) an increase of 24% compared to the same period last year.

• Gross profit was SEK 118 M (102) an increase of 16%. Gross margin was 20.5% (22.0). 

• Operating costs excluding depreciation and adjusted for change related items were SEK -88 M (-76), an increase of 17%.

• EBITDA amounted to SEK 29 M (26). Adjusted for change related items, EBITDA was SEK 30 M (26).

• Investments in tangible and intangible fixed assets, mainly related to product development, were SEK 10 M (9).

• Cash flow from operating activities was SEK 43 M (32).

• Earnings per share, before and after dilution were SEK 0.29 (0.22).

The full year 2023 

• Total revenue amounted to SEK 1 987 M (1 640), which is an increase compared to the same period last year by 21%.

• Gross profit was SEK 414 M (346) an increase of 20%. Gross margin excluding change related items was 20.8% (21.1).

• Operating costs excluding depreciation and adjusted for change related items were SEK 321 M (263), an increase of 22%. 

• EBITDA amounted to SEK 91 M (79). Adjusted for change related items, EBITDA was SEK 92 M (83).

• Investments in tangible and intangible fixed assets, mainly related to product development, were SEK 38 M (32). 

• Cash flow from operating activities was SEK 74 M (59) and the sum of cash and interest-bearing financial assets was SEK 70 M (93) at the end of the period. Net cash in end of the period was SEK -5 M (5).

• Earnings per share, before and after dilution were SEK 0.56 (0.54).

Letter from the CEO

We close the year 2023 with a solid performance in the fourth quarter. The underlying gross profit increased by 9% in the quarter despite having challenging comparative figures. The last quarter of the year is always the most important from a financial point view due to Black Week and Christmas sales.

Growth comes from all products and markets, and it is even more satisfactory to see that our large base of international customers grew substantially. Our international footprint with local presences in the main European markets shows again that we are one of the very few companies that can deliver performance marketing at scale for this customer base.

The underlying EBITDA reached SEK 29 M in the quarter and surpassed last year’s figure with SEK 3 M. The EBITDA margin decreased to 5.1% (5.7%) in the fourth quarter and is mainly linked to increased employee costs.  During the year we increase FTE to 335 (294). Compared to previous quarters we have not increased headcount in the fourth quarter since we believe to be well staffed to execute our plans for the coming year. We will continue to invest into our teams and products on reasonable terms.

I want to thank our teams for the dedication, energy and spirit they put into our business every day, our clients and partners for their trust and loyalty and all stakeholders for their ongoing support. 

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. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 28 February 2024. Numerical data in brackets refers to the corresponding periods in 2022 unless otherwise stated. Rounding off differences may arise.