artnet AG - Earnings Release 2017

News Details

Ad-hoc | 22 February 2018 23:15

artnet AG announces preliminary result for the 2017 financial year

artnet AG / Key word(s): Preliminary Results/Forecast

artnet AG announces preliminary result for the 2017 financial year

22-Feb-2018 / 23:15 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information according to Article 17 MAR

artnet AG announces preliminary result for the 2017 financial year

(Berlin, February 22, 2018) Pursuant to the preliminary figures for the 2017 financial year, artnet’s net profit for the 2017 financial year of approximately 0.78 million USD (approximately 0.70 million EUR) is above the net profit from the previous financial year of 0.70 million USD (approximately 0.63 million EUR), representing an increase of approximately 12 %. The forecast for the Group’s net profit for the 2017 financial year, estimated between 0.3 million USD and 0.5 million USD (0.3 million EUR to 0.5 million EUR), was exceeded. The increase is partly due to a deferred tax benefit of approximately 0.37 million USD, which is calculated based on the Group’s anticipated future growth.

The Group’s revenue increased from 19.2 million USD in 2016 to approximately 20.8 million USD, representing an increase of approximately 8 %, meeting the range of the forecast of between 20.5 million USD and 21.5 million USD. In euros, however, the Group’s revenue of approximately 18.4 million EUR missed the forecast for the Group’s revenue in euro estimated between 19.5 million EUR and 20.4 million EUR, due to the depreciation of the US dollar against the euro. Cash reserves for the Group increased from approximately 1.1 million USD to approximately 1.3 million USD, slightly exceeding the forecast. In euros, cash reserves remained mostly unchanged at approximately 1.1 million EUR, due to the depreciation of the US dollar against the euro.

The final audited annual statements and the consolidated annual statements will presumably be published on March 23, 2018.

22-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	artnet AG
	Oranienstraße 164
	10969 Berlin
	Germany
Phone:	+49 (0)30 20 91 78 -0
Fax:	+49 (0)30 20 91 78 -29
E-mail:	[email protected]
Internet:	www.artnet.de
ISIN:	DE000A1K0375
WKN:	A1K037
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange