Brief: Artnet AG Preliminary Results For 2019 Financial Year Lower Than Anticipated

Artnet AG

13/02/2020 23:25

Feb 13 (Reuters) - Artnet AG  AYDGn.DE :
    * ARTNET AG: PRELIMINARY RESULTS FOR 2019 FINANCIAL YEAR
LOWER
THAN ANTICIPATED
    * ARTNET- GROUP'S INCOME FROM OPERATIONS FOR 2019 FINANCIAL
YEAR
IS ABOUT 0.2 MILLION USD, BELOW ESTIMATED RESULTS BETWEEN 1.0
MILLION USD AND 1.5 MILLION USD
    * REVENUE INCREASED TO APPROXIMATELY 21.8 MILLION USD IN
2019 FY
AND WAS THEREFORE BELOW RANGE OF FORECAST OF BETWEEN 23 MILLION
USD AND 24 MILLION USD
    * REORGANIZATION OF ARTNET AUCTIONS SEGMENT CAUSED REVENUE
TO BE
LOWER THAN ANTICIPATED IN 2019 FINANCIAL YEAR
    * GLOBALLY, AUCTION VOLUME DECREASED BY 8% TO 17.8 BILLION
USD, AS
COMPARED TO 2018

Source text for Eikon:  ID:nEQ9g9v2qa 
Further company coverage:  AYDGn.DE 

 ((Reuters.Briefs@thomsonreuters.com;))