EQS-Adhoc: artnet AG: artnet adjusts forecast for fiscal year 2023

New York/Berlin, December 22, 2023 - artnet AG ("Company") decided today to adjust its forecast for the 2023 fiscal year. The Company expects revenues of around 26M USD for the 2023 fiscal year (previously: 28M - 30M USD). Additionally, the Company now expects to achieve an operating profit (=EBIT) of around USD -0.7 million (previously: between USD 1.0 million and USD 1.6 million) for the 2023 fiscal year. The adjustment of the forecast is due to lower than expected performance in the Marketplace segment, particularly in the fourth quarter of the current fiscal year, caused primarily by the worldwide economic headwinds and the associated art industry specific downturn. Furthermore, several large Data and Media contracts, which were expected for the fourth quarter of 2023, have been delayed and are now expected to be realized in the first quarter of the 2024 fiscal year.
Contact:
Sophie Neuendorf
Vice President, Artnet AG 
sneuendorf@artnet.com