EuroBusiness Media (EBM): Criteo, the performance marketing technology company reports another strong quarter in Q3. Benoît Fouilland, hello. You are the Chief Financial Officer of Criteo. What are your comments on this quarter?
Benoît Fouilland: It was another great quarter. We have been exceeding our guidance for the eighth quarter in a row and that has been translated into nice growth on the top line, revenue ex-TAC has been growing 47% to €120 mn while adjusted EBITDA has been growing 55% to €31 mn. And we have crossed for the first time the €1 bn revenue landmark which is a critical nice term for the company.
EBM: What were the drivers behind the strong growth in Q3?
Benoît Fouilland: The first driver was technology. We have continued to roll out our latest innovation to our customers. Now over 90% of our customers are taking advantage of our multiscreen solution. Over two third of our customers are now participating in our cross device matching solutions providing us with anonymized CRM data. Our latest creative platform generated close to 40% of our revenue ex-TAC in the quarter. Second driver was the new clients. We added 725 new clients in the quarter while maintaining our retention rate still above 90% and we have seen very strong momentum in mid-market in particular. The third driver was the expansion of our publisher base. We have been adding more than 1 000 new publishers in the quarter, bring our total base of direct publishers close to 12 000 publishers. We had over 1 500 advertisers now live on Facebook mobile using dynamic product ads and we have been continuing to work very closely with Facebook during the quarter to improve the performance of our solution on Facebook mobile.
EBM: How would you characterize your performance by region?
Benoît Fouilland: First, looking at the Americas, we continue to enjoy very rapid growth: 67% at constant currency, year on year. This came first from new business where we saw great momentum sequentially compared to the prior quarter. Mid–market has been enjoying very rapid growth at 150% year on year. In EMEA we grew 33% year on year at constant currency. This has been driven by continued double-digit growth in Western European market, France, UK, Germany. And we have seen also a strong momentum in the growth from our existing business across markets. In Asia Pacific we have been growing 53% year on year. South-East Asia continue to grow very rapidly especially in Indonesia and our business with Chinese companies out of China saw great momentum. We have also seen early traction in our mid-market business in Japan.
EBM: Lastly, what are your priorities for the remaining quarter of 2015?
Benoît Fouilland: Our first priority is to continue, obviously, to invest in mobile particularly in native, in in-apps, as well as in cross-device. Second, we will continue to invest in opening new marketing channels and in particular Search is a very critical project for us for next year. We have already committed a significant effort with more than 50 people working on this project and we see a very strong potential behind this project. Finally, we are going to continue to grow our global presence across all segments.
EBM: Benoît Fouilland, CFO of Criteo, thank you very much.
Benoît Fouilland: Thank you.
