REG - Auction Technology - H1 Trading Update

Auction TechnologyAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260420:nRST0551Ba&default-theme=true

RNS Number : 0551B  Auction Technology Group PLC  20 April 2026

20 April 2026

AUCTION TECHNOLOGY GROUP PLC

H1 TRADING UPDATE

Good pro forma revenue growth(1) of close to 8% with continued A&A GMV
growth

FY26 guidance confirmed

 

Auction Technology Group plc ("ATG", "the Company", "the Group") (LON: ATG),
the operator of world-leading curated auction and list price marketplaces that
connect millions of buyers with unique items worth finding again, today
announces a trading update for the six-month period ended 31 March 2026 ("the
period").

H1 trading

Group trading remained positive in Q2, building on the good momentum in Q1. We
expect to report H1 revenue of c.$125m.  Pro forma constant currency(1)
revenue growth is expected to be close to 8% in H1, with pro forma2 growth
(actual rates) of c.9%.

Arts & Antiques ("A&A") showed strong revenue growth, driven as
expected by atgShip and a positive contribution from GMV growth, with a
benefit from Easter timing. Targeted actions to improve the buyer and seller
experience highlighted at the FY25 results are delivering positive results,
with further initiatives to come. Industrial & Commercial ("I&C")
revenue declined modestly in H1.

Chairish, part of A&A, continued to deliver good pro forma constant
currency(1) revenue growth in the period, with operational synergies also
remaining on track to deliver an annual run rate of $8m by FY27.

Adjusted EBITDA was in-line with our expectation, benefitting from
LiveAuctioneers commission growth, Chairish operational synergies and cost
efficiencies across the Group.  The adjusted EBITDA margin will reflect the
consolidation of Chairish and the dilutive impact of value-added services, as
guided at the FY25 results.

The Group recently undertook an additional modest cost savings programme that
will benefit margins in FY27, with a small benefit in H2 26. We also expect
this programme and other actions to further enhance the Group's effectiveness.

Cash generation remained strong, with adjusted net debt / adjusted EBITDA3
reducing to c1.8x at the end of March (from 2.0x at the end of December 2025).

We intend to provide greater detail on all areas of H1 performance at the
interim results.

FY26 guidance confirmed, supported by positive H1

We continue to expect performance in line with our guidance set out in
November 2025 and in-line with market expectations(4).

We expect at a Group level:

• Revenue growth of 4-5%, on a pro forma constant currency basis, driven
mainly by value-added services, especially the full year benefit of atgShip.

• Revenue growth more weighted to the first half.

• An adjusted EBITDA margin of 34.5-35.5% for the Group as a whole,
reflecting mix and full year contribution of Chairish.

• Strong adjusted free cash flow generation continues.

• Group leverage well below 2x by end FY26.

As the Group continues to deliver against its stated strategic priorities, the
Board will consider capital allocation options towards the end of the year.

 

In a separate release today, the Group announces that John-Paul Savant will be
stepping down from his role as Chief Executive Officer (CEO) after more than
ten years.

John-Paul Savant, Chief Executive Officer of ATG, commented:

"We continue to focus on our strategy for extending our leading position in
the curated second-hand goods market. ATG has delivered good trading and pro
forma growth in H1 26 and I'm particularly pleased to report our progress on
driving A&A GMV which has been a focus area. This, combined with our
anticipated growth on the back of our shipping mandate and the good progress
with Chairish underpins our ability to deliver our FY26 guidance.  We remain
firmly confident that ATG will continue to lead in our A&A and I&C
sectors by delivering unparalleled value to both buyers and sellers, building
on our transaction and trust infrastructure, our unique pool of data and
market intelligence, and our platform and operational scale.  We are excited
by the bright future in front of ATG."

 

Financial calendar

The Group will release its FY26 Interim Results on 14 May 2026.

 

For further information, please contact:

 

 ATG
 For investor enquiries  chrisdyett@auctiontechnologygroup.com

                         Mobile: +44 7974 974690

                         matthewwalker@auctiontechnologygroup.com

 FTI Consulting

 For media enquiries     atg@fticonsulting.com (mailto:atg@fticonsulting.com)

 Jamie Ricketts          +44 (0)20 3727 1000

 Matt Dixon

About Auction Technology Group plc

Auction Technology Group plc ("ATG") operates 10 leading marketplaces in Arts
& Antiques ("A&A") and Industrial & Commercial ("I&C"),
connecting millions of buyers with unique items worth finding again.  ATG
transforms fragmented, complex markets into structured, trusted marketplaces
where buyers and sellers can transact with confidence at scale.

The Group powers its ten branded online auction and list price marketplaces
using best in class proprietary technology. ATG has offices in North America,
the United Kingdom, Germany and Mexico.

 

 

1.     Pro forma constant currency revenue includes Chairish for the full
comparative period, in accordance with ATG Group accounting policies, and is
shown on a constant currency basis using average exchange rates for the
current financial period applied to the comparative period to eliminate the
effects of fluctuations in assessing performance

2.     Pro forma revenue includes Chairish for the full comparative
period, in accordance with ATG Group accounting policies, and is presented on
an actual currency basis

3.     Adjusted net debt / adjusted EBITDA ratio as per the senior
facilities agreement (SFA)

4.     For FY26, the current consensus range for revenue is from US$239.8m
to US$244.9m with a mid-point of US$242.6m while adjusted EBITDA is from
US$83.1m to US$85.6m with a mid-point of US$84.6m

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTDKLFFQZLXBBE



            Copyright 2019 Regulatory News Service, all rights reserved