Business
Half-year Report
Half-year Report.
About this update from Auction Technology Group Plc
[{"type":"text","content":"\n\nAUCTION TECHNOLOGY GROUP PLC\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2025\n \nROBUST FINANCIAL PERFORMANCE WITH STRATEGIC GROWTH INITIATIVES ON TRACK\n \nLondon, United Kingdom, 15 May 2025 - Auction Technology Group plc (\"ATG\", \"the Company\", \"the Group\") (LON: ATG), operator of world-leading marketplaces for curated online auctions, today announces its unaudited financial results for the six months ended 31 March 2025. \n \nFinancial results\n \n\n\n\n\n\n\n\n\n\n\nHY25\n\n\nHY24\n\n\nMovement\n\n\n \n\n\n\n\n\n\n\nRevenue\n\n\n$89.0m\n\n\n$86.0m\n\n\n+3%\n\n\n\n\n\n\n\n\n\n\nAdjusted EBITDA1\n\n\n$38.5m\n\n\n$35.7m\n\n\n+8%\n\n\n\n\n\n\n\n\n\n\nAdjusted EBITDA margin %1\n\n\n43%\n\n\n42%\n\n\n+1ppt\n\n\n\n\n\n\n\n\n\n\nOperating profit\n\n\n$15.0m\n\n\n$10.5m\n\n\n+43%\n\n\n\n\n\n\n\n\n\n\nOperating margin %\n\n\n17%\n\n\n12%\n\n\n+5ppt\n\n\n\n\n\n\n\n\n\n\nAdjusted diluted earnings per share1\n\n\n19.0c\n\n\n16.6c\n\n\n+14%\n\n\n\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n5.7c\n\n\n5.3c\n\n\n+8%\n\n\n\n\n\n\n\n\n\n\nAdjusted net debt1\n\n\n$106.5m\n\n\n$141.6m\n\n\n-$35.1m\n\n\n\n\n\n\n\n\n\n\nCash generated by operations\n\n\n$38.3m\n\n\n$27.6m\n\n\n+39%\n\n\n\n\n\n\n\n \nFinancial highlights\n· Revenue up 3.4% to $89.0m, driven by strong uptake of value-added services and stabilisation in Gross Merchandise Value2 (\"GMV\"), with marketplace revenue up 4%.\n· Adjusted EBITDA up 8% to $38.5m, with adjusted EBITDA margin of 43% up 1ppt, driven by revenue growth and lower administrative expenses.\n· Operating profit up 43% to $15.0m, driven by higher adjusted EBITDA, lower share-based payments charge and no exceptional costs in the period. Operating profit margin of 17% (HY24: 12%).\n· Adjusted diluted earnings per share of 19.0c, up 14% driven by the increase in adjusted EBITDA and lower net finance costs due to a reduced debt balance and a lower effective interest rate; basic earnings per share of 5.7c compared to 5.3c in HY24.\n· Strong cash generated by operations of $38.3m (HY24: $27.6m). Adjusted net debt/adjusted EBITDA ratio of 1.3x, down from 1.4x at FY24 year end.\n· $40m sha...