Auction Technology Group plc (ATG) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

ATG's 2023 full year annual results. For fiscal year 23, we are pleased to say that we delivered solid numbers despite the macro economic backdrop. And we're pleased with the progress we had against all six of our strategic growth levers. In so doing, ATG is continuing to increase and improve the standard of buying online at auction, which is, as you know, a key part of what we're focused on. And what we've seen is that the more we do, the more our customers trust us. This year, we saw the fruits of some of our labors coming coming out, especially in the value added services domain and we'll talk a little bit more about that. We have other areas where we're investing or have been investing and we're going to see that coming in the future. While the macro backdrop definitely impacted our numbers in the second half, what's equally important to note is that we are in a position to invest and take control of that macro and de-risk the macro as we look forward. So if you flip to slide four, Becky, please. So since the IPO, ATG has consistently delivered strong financial and operational results, One of the things is that we grew during COVID, we grew post-COVID, and that we've retained the vast majority of that growth, just demonstrating that structural shift from offline to online that we talk about. In fiscal year 19, if you look back even further than this GMV chart shows, it would have been 1.1 billion. And so, as you can see, over these last four years, we've grown massively and are sitting at 3.3 billion, having retained the vast, vast majority of the gains we saw over that entire COVID period. With that number being reflected in our revenues as well, growing from 52 million in fiscal year 20 up to 135 million pounds this year. And as you can see, EBITDA from 22 mill...