Interim report April - June 2018
- Net sales amounted to MSEK 6.1 (28.5)
- EBITDA amounted to MSEK -1.7 (2.3)
- EBIT amounted to MSEK -3.9 (-2.8)
- EBT amounted to MSEK -4.0 (-5.5)
- Earnings per share before dilutions amounted to SEK -0.08 (-0.15)
- Listed on Oslo Stock Exchange, Merkur Market
First half year
- Net sales amounted to MSEK 13.6 (57.6)
- EBITDA amounted to MSEK -5.9 (4.3)
- EBIT amounted to MSEK -10.3 (-5.7)
- EBT amounted to MSEK -14.4 (-11.3)
- Earnings per share before dilutions amounted to SEK -0.31 (-0.33)
Significant events after the reporting period
- After the reporting period TargetEveryone appointed Torkel Johannessen as new CEO
The comparable 2017-numbers include the divested subsidiaries Vianett and Sendega
The outstanding growth continues with 73% yoy
Good sales growth underpinned by good collaboration together with our partners in Q2. This makes us confident that the upcoming months will show even better development than we have seen so far this year. Our company moves forward with a strategic core focus.
The second quarter shows that we maintain high growth on our core product even though we had a demanding situation with full-quarter effect from the loss of our biggest customer caused by bankruptcy, and significant management attention on the IPO.
By mid spring, we also realized that we had been too occupied with selling our new platform that will be launched this fall. We learned from this, and turned our attention back towards our great current platform. This tactical change was successful as we could see it reflected in the June sales figures. We also notice that our partner model continues to develop successfully, which shows that this strategic decision seems right so far. This is even before we have started to sell through our North-American partner Vendasta. Our whole company has also during the second quarter, put down a tremendous effort to integrate with Vendasta, to ensure that they are ready to launch this August.
I have tried to convince Torkel Johannessen to join our forces for several years. The starting point was two years ago, when he joined our board. Thus, I am proud to announce that Torkel Johannessen becomes the new CEO of TargetEveryone from October 1st, this year. Torkel has extensive knowledge and competence about our market and a great track record. He has been director of e-commerce and the Omni channel in Norway's largest cosmetics company, VITA AS. In total, he has more than 15 years of experience in digital media from the US, the UK and the Nordic region and has worked for companies including Match.com, Yahoo! and Egmont. I consider Torkel a brilliant person for this job, and I am very satisfied that he comes on board. This will allow me to continue with full effort on my greatest competence and interest - sales and business development.
Due to changes in the Swedish SMS-payment business, we stopped delivering this service in VMSPlay Sweden in May. This has been a running business for a long time, even though it strategically has been outside our core. This has been a low-margin operation, that now will be shut down, with costs removed. Besides this, we generally monitor running costs carefully and remove and find synergies where we can.
The development of our Spectrum platform is on track. This platform is even faster, more solid and intelligent than our current. I am confident that this will be a game changing launch this Fall, that will position TargetEveryone as the leading MARTECH vendor in the Nordics.
Stockholm, Aug 2018
Björn Forslund, CEO
A presentation of the second quarter will be available on TargetEveryone's Investor page at 08.00 a.m. CET.
For further information contact:
+47 977 00 338
Mangold Fondkommission AB (556585-1267)
Box 55 691 102 15 Stockholm
Telefon: +46 8 503 015 50
TargetEveryone AB (publ) is obligated to publish this information under the EU Market Abuse Regulation. The information was provided by the above contact person's auspices, for publication on August 23, 2018 at 07.30 a.m. CET.
TargetEveryone is a leading MARTECH company that provides a cutting-edge marketing solution, that helps customers target their market intelligently in a swift and cost-effective manner. The cloud-based solution seamlessly helps the user segment their customers, quickly create campaigns, and then distribute them through email, SMS, Facebook, Twitter, LinkedIn or QR Codes. The solution is based on big data to analyze and refine the customers behavior and demands. TargetEveryone has over 3000 clients in more than 92 countries, and has experienced strong growth as marketing investments continues to move from traditional media to digital media. Customers include Nespresso, Coop, Vita, Match, DNB, Krogh Optikk, Cirkel K and Red Cross. TargetEveryone's headquarter is in Oslo, with branch offices in Sweden, Holland, Portugal, India and USA. TargetEveryone is listed on Nasdaq First North in Stockholm and Merkur Market in Oslo.
TargetEveryone is a global MARTECH company, enabling our clients to streamline their 1-1 digital marketing, content and experiences within one SaaS online platform. Today, the prospectus for the offering was approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen). The Prospectus is published today and is available at https://www.targeteveryone.com/investors/financial-reports.php?lang=en&type=PR. The offering will be a total of 108,376,814 shares at a share price of SEK 0.4 that will be traded on Nasdaq First North.
TargetEveryone's Annual General Meeting was held on May 15, 2019 at the company's premises, Kungsgatan 60 in Stockholm.
- Net sales amounted to MSEK 3.4 (7.5)
- EBITDA before extraordinary costs amounted to MSEK -7.8 (-4.0)
- EBT amounted to MSEK -14.6 (-10.4)
- Earnings per share before dilutions amounted to SEK -0.25 (-0.32)
- Signed totally seven new customers
- Accumulated cost reductions to a total of approximately 30 %
Aktieägarna i TargetEveryone AB (publ), org nr 556526-6748, kallas härmed till årsstämma den 15 maj 2019 kl. 09.30 i bolagets lokaler på Kungsgatan 60 i Stockholm.
CEO update with notice of update on prognosis, announcement of cost cuts, sales progress, issue of new shares and market outlook
TargetEveryone AB proposes a rights issue of up to 108 million shares at a price of 0,4 SEK each and takes up a bridge loan of up to 8 MSEK to secure working capital
On February 14, the company published the year-end report for the fiscal year 2018.