2Performant posts a turnover of 21 million lei in the first half of 2023, up 31%
2Performant (BVB: 2P), a technology company and the leader of the affiliate marketing market in Romania, posts a turnover of 21 million lei in the first half of 2023, a 31% increase compared to the same period last year, and a normalized net profit (which excludes the non-cash impact of the Stock Option Plan program) of 210 thousand lei, a 124% increase compared to H1 2022.
“The first half of 2023 continued the upward trend of the 2Performant business, benefiting from our ongoing investment in platform development. This is also reflected by reaching, in the first semester, a new milestone in our history, 10 million sales intermediated by the 2Performant platform. Also, our technological solutions, such as Big Bear and Direct Debit, which improve the quality of the relationship between affiliates and advertisers, are being adopted by an increasing number of users, leading to an improvement in the benefits offered by the ecosystem. Our operational and financial performance has led to a remarkable performance of 2Performant on the Bucharest Stock Exchange, with the share price increasing by 85% this year, while the value of transactions amounted to 2.2 million lei. Thus, our company managed to benefit from the high investor interest in the local capital market in recent months, making 2P one of the champions of the Bucharest Stock Exchange,” stated Dorin Boerescu, Chairman of the Board of Directors and CEO of 2Performant.
In H1 2023, 2Performant posted an operating income of 23.7 million lei, a 32% increase compared to the previous year. This growth is mainly due to a 31% increase in turnover, as well as a 71% increase in income from the production of intangible and tangible assets to 2.7 million lei. In addition, operating revenue (turnover minus affiliate commissions) amounted to 5.3 million lei, up 33% compared to the same period last year.
Romania accounted for 86% of the 21 million lei turnover reached in the first half of 2023, while the remaining 14% of turnover was generated by the external market, a share that remains constant compared to the previous year. In terms of revenue by payment method, pre-paid vs. post-paid, in H1 2023 there was a significant increase in pre-paid payments compared to post-paid. Thus, in the first semester of 2023, pre-paid payments accounted for 56% and post-paid payments for 44%, after a ratio of pre-paid to post-paid payments of 45-55% in H1 2022. One of the factors driving the increase in the share of pre-paid payments was the implementation of Direct Debit functionality by online stores, automating payments to marketing budgets, which in Q2 2023 reached 180 advertisers, a 46% increase compared to Q1 2023.
“Increasing the quality of the 2Performant ecosystem is one of our main objectives for this year, and the indicators so far confirm our success in this direction. In the first six months of the year, the average network commission per productive affiliate increased by 76%, while the total value of network commission generated by new advertisers grew by 191%. Another important project this year was the new network commission calculation model for advertisers, which will be calculated as a percentage of sales value and will be implemented starting in October this year. The investments in ecosystem development are designed to incentivize and reward affiliate marketing performance in a transparent way. The redesign of the Business League competition and the launch of new challenges within it are two of the latest projects undertaken by the 2Performant team, which significantly contribute to improving the user experience and generating increased sales and commissions,” added Dorin Boerescu.
Regarding the operational results, the 2Performant platform generated sales of 60.2 million euros (excluding VAT) in H1 2023, a 43% increase compared to H1 2022. The platform’s 7,910 unique users sent 49.9 million clicks to 2Performant’s online stores, a 27% rise versus the same period last year, resulting in a total of 1.34 million online sales (+67% vs. H1 2022), generating affiliates commissions of 3.6 million euros (+38% vs. H1 2022).
2Perfomant is listed on the AeRO market as of December 9, 2020, and as of October 2021, 2P shares are included in the BET-AeRO index developed by the Bucharest Stock Exchange.
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About 2Performant
2Performant Network SA is the Romanian technology company that develops, operates, and monetizes the 2Performant.com collaborative marketing platform through which online stores collaborate with the best online advertising and traffic sources through a Cost Per Sale model.
With a unique global vision on the gamification of marketing collaborations based on performance and transparency, 2Performant has intermediated over 10.7 million online sales worth 496 million euros in 14 years of activity, through more than 652 million clicks, for thousands of online stores in Romania and in the region, from over 30 industries.
According to the company’s data, 2Performant is the largest local traffic source for online stores in Romania, bringing over 8 million monthly clicks for the portfolio clients.
2Performant Network SA is listed on the AeRO market of the Bucharest Stock Exchange as of 2020 under the symbol 2P – the first public technology company in Romania.