artnet AG — Earnings Release 2002

Feb 21, 2002

News Details

Ad-hoc | 21 February 2002 16:44

artnet.com AG english

artnet.com AG – Operating Profit since December Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– artnet.com AG to Expand Product Offerings in 2002 – Operating Profit since December New York/Frankfurt, February 21, 2002 – artnet.com AG will be introducing a number of additional services in 2002, which will further strengthen its position as the leading Internet Services Company for the art market. At the end of February, we will offer a new platform enabling galleries to build and maintain their own websites online with a commensurate savings in overhead for artnet. In addition, as of April, we will introduce a Gallery Trading Network, a discreet communications and trading tool exclusively for dealers designed to solve two major problems: lack of transparency and liquidity. 2002 will also see a number of product enhancements including a simplified full text search and an art world directory featuring search capability for specific artists and specialties across galleries worldwide. We are further pleased to announce an operating profit in December as well as January 2002 for the first time since the business interruption caused by the attack on the World Trade Center. In part, artnet’s profitability reflects continued cost cutting, but one should point out that sales for the Fine Art Auctions Database have been particularly good (up 30% in the last five months), even in the face of our recent adversity. This is the clearest indication of our product’s viability and superior positioning in the marketplace. The company expects a positive EBITDA of Euro 1,0 mio in 2002. Contact: Hans Neuendorf, Vorstand hneuendorf@artnet.com Tel. 001-212-497 9700 Ext. 638, Fax 001-212-497 5005 http://www.artnet.com end of ad-hoc-announcement (c)DGAP 21.02.2002 ——————————————————————————– WKN: 690950; ISIN: DE0006909500; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 211644 Feb 02