artnet AG

ART

Equity

ISIN DE000A1K0375 / Valor 13664519

Xetra (2024-11-20)

EUR 7.15+4.38%

artnet AG
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About company

artnet AG is a Berlin-based company listed on the Prime Standard segment of the Frankfurt Stock Exchange, with its primary subsidiary, Artnet Worldwide Corporation, based in New York. The company operates an international trading platform for the art market, offering information services such as artnet Auctions, artnet Price Database, and artnet Galleries. Since 1989, artnet has expanded from B2B to B2C and C2C business models, providing a knowledge edge for its auctions and attracting new buyers and subscribers. Known for transparency and setting new standards in the global art market, artnet focuses on customer needs, offering innovative solutions, superior quality, and excellent service to maximize customer benefits and build sustainable relationships. By providing the best and latest information to customers, artnet enables them to make critical business decisions quickly.

Summarized from source with an LLMView SourceSector: Technology

Revenue Decline

Artnet AG reported a 5% year-over-year decrease in revenue for the first half of 2023, totaling USD 4,670k compared to USD 4,915k in the same period of 2022. This decline was attributed to soft market conditions, particularly in the low and mid-market segments. Despite the overall revenue drop, certain segments showed resilience and growth.

Media Segment Growth

The Media segment of Artnet AG saw a 10% year-over-year increase in revenue, reaching USD 4,649k during the first six months of 2023, up from USD 4,215k in the same period of 2022. This growth was driven by strong performance in advertising partnerships and increased traffic to the Artnet News site, which saw a 31% rise with over 33% new customers.

Marketplace Performance

Despite a year-over-year decline in revenues, Artnet AG's Marketplace segment achieved several key milestones in the first half of 2023. The Sell Through Rate (STR) increased by 29% to 61%, and the Average Transaction Value (ATR) rose by 19% to USD 15,200. These metrics indicate a strong performance in light of the overall soft art market conditions.

Top Auction Sales

Artnet AG's auction platform saw notable sales in the first half of 2023, including Mel Ramos’ "Hav-A-Havana" which sold for USD 225,000, Manolo Valdes’ "Damas de Barajas" at USD 199,900, and Andy Warhol’s "Grace Kelly" at USD 175,000. These high-value transactions highlight the platform's ability to attract significant sales despite broader market challenges.

Outlook and Strategy

Artnet AG remains optimistic about its future despite the current economic challenges. The company continues to invest in its core products and services, such as the renewed Price Database, to enhance market transparency and efficiency. The ongoing demand for data, information, and online transactions is expected to moderate the impact of the economic downturn on the company's performance.

Summarized from source with an LLMView Source

Key figures

-10.6%1Y

-25.5%3Y

104%5Y

Performance

55.7%1Y

56.1%3Y

61.5%5Y

Volatility