Auction Technology Group PLC (LSE: ATG)

Auction Technology Group PLC (LSE: ATG) is an FTSE 250 index listed technology Company that operates marketplaces for curated online auctions. ATG is a key partner to auctioneers, reaching bidders in 150 countries.

H1 FY23 Results Update (for the 6 months ended 31 March 2023, released on 17 May 2023)

• Top-Line Business: The revenue went up around 17% YoY to £67.3 million during H1 FY23 when compared with H1 FY22, driven by Gross Merchandise Value ("GMV") growth. Moreover, the resilience in the auction market and continued structural shift online led to around 5% YoY growth in GMV during H1 FY23.
• Profitability Growth: The growth in high-margin commission and fixed fee revenue has resulted in 18% YoY growth in adjusted EBITDA during H1 FY23.
• Financial Position: The Company’s adjusted net debt rose from £122.1 million at the end of H1 FY22 to £132.4 million at the end of H1 FY23 because of the financing required for the acquisition of ESN.
• Guidance: The Company has a medium-term targets of achieving mid-teens plus organic revenue growth and mid-high 40's adjusted EBITDA margin.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Auction Technology Group PLC (LSE: ATG) was trading at the closing market price at GBX 723.00 (as of 17 May 2023).

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 17 May 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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