19.04.2016
artnet AG DE000A1K0375
artnet AG Publishes Quarterly Interim Statement for the First Quarter of 2016
DGAP-Media / 19.04.2016 / 22:56
artnet AG Publishes Quarterly Interim Statement for the First Quarter of
2016
Positive Result Achieved in the First Quarter
artnet Auctions Profitable
Advertising Revenues Increase by 36%
Berlin/New York, April 19, 2016-artnet AG published its Quarterly Interim
Statement for the first quarter of 2016 today.
Compared to the first quarter of 2015, revenue increased by 6.4% to 4.8
million USD (4.4 million EUR). artnet achieved a profit of 0.29 million USD
(0.26 million EUR), representing a 240% increase as compared to the same
period last year. The company considers this success an especially positive
indicator, as the first quarter is typically the slowest for artnet.
Since approximately 80% of the company's revenue is generated in US
dollars, revenue reported in euros can be strongly influenced by changes in
the euro-US dollar exchange rate. As a result, developments for each
segment and product is described hereafter in US dollars.
Revenue from artnet Auctions increased by 6.4% to 0.83 million USD, as
compared to the first quarter of 2015. Management is pleased to report that
artnet Auctions achieved a profit for the first time. The sell-through rate
increased by one third, while also attracting approximately 19% more users
to the auction site, as compared to the first quarter 2015. The highest
sold lot was George Condo's Face, selling for 252,000 USD (with premium).
Based on this segment's positive first quarter, the company anticipates a
successful year for artnet Auctions.
Revenue from advertising on artnet News, the company's news platform,
increased by 75.5% to 0.48 million USD, as compared to the first quarter of
the previous year. Traffic to the site also increased, growing by
approximately 14%, demonstrating its growing significance to both artnet
and the art world at large.
Advertising revenue increased across artnet's sites, resulting in an
overall growth of 36.3% to 0.91 million USD, as compared to the same period
last year. Management expects 2016's advertising revenue to exceed that of
2015.
Revenue from Price Database subscriptions increased by 2.2% to 1.83 million
USD as compared to the first quarter of 2015, and the company anticipates
this positive trend to continue throughout the year.
Meanwhile, revenue from Gallery Network memberships fell by 3.2% to 1.28
million USD, while revenue from Auction House Partnerships increased as
compared to the first quarter of 2015. Thanks to the overall rise in
advertising revenue, the Galleries segment's revenue increased by 2.5% to
1.64 million USD. The number of gallery members has been rising in 2016
and, with substantial improvements to the product currently underway, an
increase in revenue for this segment is expected for the year.
artnet will continue to focus on improving technical and aesthetic elements
of artnet's site in 2016, with the goal of offering ever-improving products
and services to the art market. The full Quarterly Interim Statement for
the first quarter of 2016 is available at
http://www.artnet.com/investor-relations/quarterly-reports.
For more information, please contact [email protected].
End of Media Release
---------------------------------------------------------------------------
Issuer: artnet AG
Key word(s): Enterprise
19.04.2016 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
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
End of News DGAP Media
---------------------------------------------------------------------------
455727 19.04.2016
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
artnet AG ISIN: DE000A1K0375 können Sie bei EQS abrufen
Kunst , A1K037 , ART , XETR:ART