artnet AG - Earnings Release 2024

News Details

Ad-hoc | 7 November 2024 19:54

artnet AG: artnet publishes preliminary figures for the third quarter of 2024 and adjusts forecast for the financial year 2024

artnet AG / Key word(s): Change in Forecast/Change in Forecast

artnet AG: artnet publishes preliminary figures for the third quarter of 2024 and adjusts forecast for the financial year 2024

07-Nov-2024 / 19:54 CET/CEST

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

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

**Publication of inside information pursuant to Art. 17 of Regulation (EU) No. 596/2014 (MAR)

artnet publishes preliminary figures for the third quarter of 2024 and adjusts forecast for the financial year 2024; postponement of the publication date of the Q3 quarterly statement**

New York/Berlin, November 7, 2024 – Based on preliminary, unaudited figures for the third quarter of 2024, artnet AG (“Company”) expects revenues of EUR 16.2 million (Q3 2023: EUR 17.1 million) and an operating result (EBIT) of EUR -1.4 million (Q3 2023: USD -1.5 million). Based on these figures, the Company decided today to adjust its forecast for the 2024 financial year. The company’s forecast for consolidated sales remains unchanged at EUR 25.0 million to EUR 27.0 million. However, the Company now expects to achieve an operating result of only between EUR 0 and EUR 0.5 million in the financial year 2024 (previously: EUR 0.75 million to EUR 1.5 million). The forecast adjustment was necessary because the management board no longer expects the operating result to reach the originally targeted level due to the macroeconomic environment, in particular the current difficult conditions on the art market.

The publication of the quarterly statement for the third quarter of 2024, originally scheduled for November 8, 2024, is now to take place on November 11, 2024, due to the forecast adjustment.

Contact:

Sophie Neuendorf

VICE PRESIDENT, INVESTOR RELATIONS

End of Inside Information

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Language:	English
Company:	artnet AG
	Niebuhrstr. 78
	10629 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
EQS News ID:	2025337