TRADEDOUBLER AB (PUBL) INTERIM REPORT JANUARY-MARCH 2011

Strong start of 2011

(Numerical data in brackets refers to the corresponding period in 2010 unless
otherwise stated).


·          Net sales increased by 6% to SEK 749.4 M (709.2). Adjusted for
changes in exchange rates the rise was 16%.

·          Gross profit increased by 2% to SEK 166.7 M (163.9). Adjusted for
changes in exchange rates, the rise was 11%.

·          Operating profit (EBIT) increased by 109% to SEK 33.6 M (16.0).
Adjusted for changes in exchange rates, the increase was 231%.

·          Network developed strongly and increased the operating profit by
141% to SEK 32.6 M (13.5). Adjusted for changes in exchange rates, the increase
was 283%.

·          The cash flow from operating activities was SEK 43.3 M (-79.3).

·          Earnings per share amounted to SEK 0.44 (0.07).

·          TradeDoubler continued to strengthen its market position.

·          Elaine Safier was appointed as Chief Commercial Officer and Leif
Eliasson was appointed as Market Unit Leader North East.

CEO's comments

Strong improvement in earnings

TradeDoubler began the year strongly and more than doubled its operating profit
compared with the first quarter last year. Network accounted for the major part
of the group's operating profit.

Stronger market position

The continued favourable sales trend had a positive impact on the gross profit,
which increased by 11 per cent adjusted for changes in exchange rates.

My assessment is that TradeDoubler is continuing to strengthen its market
position through an improved offer and greater market presence.

Cost control in a sharpened organisation

The improved profitability is also due to continued cost control in a sharpened
organisation.

Six market units were established during the quarter which means that we have
advanced our positions closer to customers and partners. Consequently, we now
have a stronger local business which is quicker, more empowered, creating more
customer value, and providing a better platform for geographical expansion.

It pleases me to see our strong performance in most market units and countries,
particularly in North West (UK), in Central (Germany), in France and South East
(Italy). North East developed well, while the development in South West was
challenging on account of a tough market climate in Spain and organizational
changes.

Boost from new products

Our new products within targeting and our mobile offer are appreciated and
requested by clients, and also deliver significant customer benefit and
immediate results for our clients. This is a contributory factor to the higher
profitability.

Established business units Search and Technology

The new stand-alone business units Search and Technology were established during
the quarter. In Search, we have continued to execute the plan launched during
the autumn aimed at stemming the sales decline in the UK, cutting operational
costs, and boosting the international growth. For the most part, this has gone
better than planned, but a very tough market climate has continued to prevail in
the UK. Search performed very well in the rest of Europe during the first
quarter.

Technology developed according to plan and we now have a stable business with a
clear plan for achieving profitable growth.  Some write-offs and adjustments
with negative effects on earnings were charged during the quarter.

New management in place

We completed the recruitment of a number of new members of the group management
at the beginning of the year. Consequently, we have broadened and strengthened
TradeDoubler's management team and at the same time, a number of existing
managers have been given increased responsibility for market units or business
units. In the second quarter, we are fully operative in the new more efficient
business-, market- and organisational structure, with the management in place.

Urban Gillström, President and CEO

Presentation of interim report
A meeting with analysts and the media has been arranged on 4 May at 10 a.m. in
TradeDoubler's premises at Sveavägen 20, Stockholm. The presentation may also be
followed via webcast through the link:

http://www.tradedoubler.com/cp-en/investors/
and by telephone:

Sweden:                  [+ 46 8 5051 3641]

UK                           [+44 20 7138 0824]

US:                           [+1 212 444 0481]

The presentation material will be published concurrently with the interim report
on: www.tradedoubler.com/ir.

Contact information
Urban Gillström, President and CEO, telephone +46 (0)70 785 76 00
Erik Skånsberg, CFO, telephone +46 (0)70 264 70 35
ir@tradedoubler.com




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