Auction Technology Group PLC
LSE:ATG
Auction Technology Group PLC
Auction Technology Group Plc engages in the operations of online market places for curated auctions. The firm is the operator of the marketplaces for curated online auctions. The company offers three sectors, such as industrial machinery, construction and farm equipment, art, antiques and collectables, and consumer surplus and retail returns. The company offers a consistent user experience, service support and system delivery through multiple touchpoints, with real-time audio and video broadcast of auctions. Its technology and tools include Global Auction Platform, WaveBid and Auction Mobility. The Global Auction Platform is a hosting live and timed auctions across multiple brands each day, with real-time audio and video broadcast. The WaveBid offers a suite of products designed to simplify auction house management. The Auction Mobility provides digital auction technology for auctioneers that have bespoke requirements for running the businesses, including customized auction software, Website design and e-commerce solutions.
Auction Technology Group Plc engages in the operations of online market places for curated auctions. The firm is the operator of the marketplaces for curated online auctions. The company offers three sectors, such as industrial machinery, construction and farm equipment, art, antiques and collectables, and consumer surplus and retail returns. The company offers a consistent user experience, service support and system delivery through multiple touchpoints, with real-time audio and video broadcast of auctions. Its technology and tools include Global Auction Platform, WaveBid and Auction Mobility. The Global Auction Platform is a hosting live and timed auctions across multiple brands each day, with real-time audio and video broadcast. The WaveBid offers a suite of products designed to simplify auction house management. The Auction Mobility provides digital auction technology for auctioneers that have bespoke requirements for running the businesses, including customized auction software, Website design and e-commerce solutions.
Strong Revenue Growth: ATG delivered revenue of GBP 119.8 million for FY '22, up 11% year-over-year on a pro forma constant currency basis.
Margins Maintained: Adjusted EBITDA reached GBP 54 million, up 70%, with EBITDA margin flat at 45% despite increased investment.
Growth in Value-Added Services: Payments and digital marketing now account for 16% of revenue, growing 40% year-over-year.
Robust GMV and THV: GMV increased 20% to GBP 3.3 billion; THV grew 22% to GBP 10.1 billion.
Confident Outlook: Management expects high single-digit to low double-digit revenue growth in FY '23, with higher second-half growth as payments and digital marketing ramp up.
Investments in Tech & Talent: Significant hiring and tech upgrades aim to support long-term growth, with leadership and specialist roles added.
Flat EBITDA Margin Guidance: EBITDA margin is expected to remain broadly flat in FY '23, reflecting continued investment.
Payments Rollout: Payments launched earlier than planned; 49 auction houses signed, 16 using, and $1.2 million processed so far.
