Tremor International net revenue increased to $184.3m
Tremor International (LON:TRMR) posted a record breaking performance for Q4 – and more broadly the second half of the year – as the advertising company posted its full-year results on Wednesday.
The AIM-listed company confirmed its programmatic net revenue rose by 30% to $161.6m, however, this was offset by a forecasted decrease of 43% in performance activity.
Tremor International‘s net revenue increased to $184.3m, up 12%, with 88% of net revenues generated from programmatic activities. This compared to 76% in 2019.
The company announced a record H2 adjusted EBITDA of $58.7m, up 51% from the previous year, while Tremor International’s EBITDA for the full-year was $60.5m.
The advertising company confirmed it will not being paying any dividends to shareholders for the foreseeable future despite having done so in the past.
The company confirmed its earnings were affected by the pandemic’s impact on the global advertising industry during the first half of the year.
Ofer Druker, chief executive of Tremor International, commented on the company’s performance during the coronavirus pandemic:
“The record performance that Tremor achieved during the second half of 2020 and the strong start of 2021 is a clear endorsement of our strategy, the Company’s platform and our ability to generate sustainable organic growth. Whilst, as previously flagged, Tremor was impacted in the first half of 2020, as Covid-19 reduced demand across the advertising sector, overall, 2020 was a significant year in the Company’s development. It is clear that we have the right foundations in place to generate significant growth,” said Druker.
“On behalf of the Board and Tremor’s management team, I would like to thank all of our employees worldwide for their tenacity and dedication during what has been a challenging period for everyone. Tremor’s resilience, highlighted by our strong second half performance, would not be possible without each employee’s contribution.”
“We look forward to the future with real confidence in delivering further value for all our stakeholders.”