Earnings release
Page 1
AUCTION TECHNOLOGY GROUP PLC Pre-close FY25 Trading Update and Notice of Results FY25 in line with revised expectations; non-cash goodwill impairment expected FY26 outlook in line with current market expectations Auction Technology Group plc ("ATG", "the Company", "the Group"), the operator of world-leading auction and list price marketplaces that connect millions of buyers with unique items worth finding again, provides an update on its trading performance for the financial year ended 30 September 2025 and outlook for the year ahead, ending 30 September 2026. Revenue and adjusted EBITDA performance in FY25 is expected to be in line with recently revised market expectations[1]. Revenue growth accelerated in the second half, leaving the full year (excluding Chairish) up over 4% (H1 3.4%). Including Chairish, the Group's revenue is expected to be up c.9%. We made good progress on our strategic initiatives during the year including growing Value Added Services such as atgAMP, atgPay, and in particular, atgShip. The Group continues to expect to deliver an adjusted EBITDA margin of between 42% and 43%, excluding Chairish, in line with revised expectations. Initial trading for Chairish has been in line with our expectations. The Group expects to report a non-cash goodwill impairment for the year, reflecting increases in the Company's discount rate, macroeconomic conditions and the impact of the 4th August trading announcement. The Group expects adjusted net debt to adjusted EBITDA[2] to be c2.2x at year end supported by good cash generation. The Group would expect adjusted net leverage2 to reduce to well below 2x by the end of FY26. For FY26 the Group expects performance in line with current market expectations[3]. The Full Year results will be reported on Wednesday 26 November 2025. For further information please contact: ATG For investor enquiries, Chris Dyett, Matt Walker chrisdyett@auctiontechnologygroup.com matthewwalker@auctiontechnologygroup.com For media enquiries press@auctiontechnologygroup.com Teneo Communications +44 207 353 4200 (Public relations advisor to ATG) ATG@teneo.com Tom Murray, Matt Low, Arthur Rogers
Page 2
About Auction Technology Group plc Auction Technology Group plc ("ATG") is the operator of world-leading auction and list price marketplaces that connect millions of buyers with unique items worth finding again. ATG operates across two major sectors: Arts & Antiques ("A&A") and Industrial & Commercial ("I&C"). The Group powers ten branded online auction and list price marketplaces using best in class proprietary technology, and collectively facilitates the sale of more than 24 million unique secondary items per year with a value of over $13 billion annually. ATG has offices in North America, the UK, Germany and Mexico. [1] Current analyst expectations for FY2025 revenue range from US$185.4m to US$187.2m with a mid-point of US$186.3m. For FY2025 adjusted EBITDA range from US$75.1m to US$76.0m with a mid-point of US$75.8m. [2] Per the Senior Facilities Agreement [3] For FY2026, the current range for revenue is from US$238.0m to US$245.7m with a mid-point of US$241.3m while adjusted EBITDA is from US$82.9m to US$87.0m with a mid-point of US$85.5m.