Affilinet’s revenue has grown by €12.3 million according to the latest nine-month financials from Sedo Holding, the company’s parent. Sedo reported its affiliate marketing segment saw a 19.7% year-on-year increase from €62.5 million to €74.8 million.
Sedo explained the revenue growth was attributable to expansion of the customer business and growing internationalisation. There was also bad news in the financial report suggesting revenues could’ve been much more.
Economic slowdown is said to be having an effect on the UK and France. An issue with the insolvency of a major German customer, which resulted in a loss of revenue and adjustments to outstanding receivables was another contributing factor.
CEO of Affilinet, Dorothea von Wichert-Nick, focused on the good news in her own segment. ““This high growth in turnover once again reflects our customers’ appreciation and trust in affilinet,” she said.
Rise in partner programmes
On the plus side, partner programmes increased by 20.4% to 2,694 at Affilinet and the number of connected websites were up 4.5% to 553,000. Unfortunately even these healthy gains weren’t enough to ensure Sedo as a whole made it into the black.
Earnings by the group for the first nine months of 2012 were behind the previous year’s figures. EBITDA sunk to €3.6 million from €5.5 million and EBT was down by €2.1 million resulting in net income of €0.9 million. It meant Sedo had a consolidated net loss of €59.3 million.
Group targets, originally published during half-yearly figures, remain for the full year 2012. Sedo Holding still expects revenue growth of 5-10% and a positive EBT before one-offs.