Updates

Auction Technology Group

January 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

ATG, which runs seven auction platforms, has reported strong full year results. Sales were up 11% to £119.8m on a proforma basis if LiveAuctioneers had been included in both periods and assuming constant currency (+71% on a reported basis). Adjusted EBITDA of £54m grew 70% year-on-year, for a margin of 45% despite significant investment taking place in “talent and infrastructure.” Eps were 29.5p, up 221% year-on-year. The capital-light model saw £49.9m of adjusted free cashflow, leaving closing adjusted net debt of £129m. Speaking to chief executive John-Paul Savant, he says ATG’s seven marketplaces generated 172m bidding sessions, on >74,000 auctions for 3,800 auction houses last year. The Total Hammer Value (THV) of goods lis ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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