Financial Services, Lithuania, Technology

International Internet Magazine. Baltic States news & analytics Saturday, 22.07.2017, 13:55

Adcash revenue drops to EUR 37.7 mln in 2016

BC, Vilnius, 17.07.2017.Print version
The revenue of the online advertising company Adcash OU declined by 9.6% to 37.7 million euros in 2016, while the company's profit fell 55.8% to 2.7 million euros, informs LETA/BNS.

The company said that the reason for a decrease in income was mainly the increasing competition in the sector, the company's main product's life cycle reaching a mature stage and the increased number of internet advertising scams.

 

As in previous years, the company has put emphasis on the optimization of costs. The increase in costs is mainly due to an increase in the number of employees necessary for developing a new advertising solution as well as the needs of the infrastructure. Similarly to the previous year, the company's net profit was influenced by the fluctuation in the exchange rate of the euro and dollar as well as by developments on the stock markets.

 

Adcash this year is planning to improve its self-service platform and continue investments into IT startups.

 

The company's average number of employees in 2016 was 98 people, while labor costs totaled 4.3 million euros.






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