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Romanian marketing platform 2Performant turns to net loss in H1

Romanian marketing platform 2Performant turns to net loss in H1 Dorin Boerescu, 2Performant CEO Source:LinkedIn

BUCHAREST (Romania), September 14 (SeeNews) - Romanian marketing platform 2Performant said on Tuesday that it posted a net loss of 1.1 million lei ($262,674/ 222,334 euro) in the first six months of the year, compared to a net profit of 147,935 lei in the like period of 2020, as expenses grew faster than revenues.

Revenues rose by annual 17% to 10.8 million lei, 2Performant said in a financial report posted on its website.

Some 88% of turnover was generated on the Romanian market.

The company expects to cut its net loss in the second half of the year, as revenues are expected to grow.

Expenses rose 36% year-on-year during the January-June period, to 12.6 million lei, growing at a faster pace than revenues. Personnel expenses jumped by an annual 68% to 2.2 million in the first half of the year.

At the beginning of 2021, the company was restructured and increased its headcount by eight.

The company started trading on the Bucharest bourse AeRO segment within the Multilateral Trading System in December 2020.

In its 12 years of activity, 2Performant has mediated, through its technology platform, 6.3 million transactions worth 272 million euro ($321.3 million) for almost 800 Romanian and regional eCommerce players.

2Performant shares were trading 6.90% lower at 29.7 lei on Tuesday at 1607CET on the BVB.

(1 euro=4.9475 lei)