artnet publishes preliminary figures for the third quarter of 2024 and adjusts forecast for the financial year 2024

Publication of inside information pursuant to Art. 17 of Regulation (EU) No. 596/2014 (MAR)

artnet publishes preliminary figures for the third quarter of 2024 and adjusts forecast for the financial year 2024; postponement of the publication date of the Q3 quarterly statement

 New York/Berlin, November 7, 2024 – Based on preliminary, unaudited figures for the third quarter of 2024, artnet AG ("Company") expects revenues of EUR 16.2 million (Q3 2023: EUR 17.1 million) and an operating result (EBIT) of EUR -1.4 million (Q3 2023: USD -1.5 million). Based on these figures, the Company decided today to adjust its forecast for the 2024 financial year. The company's forecast for consolidated sales remains unchanged at EUR 25.0 million to EUR 27.0 million. However, the Company now expects to achieve an operating result of only between EUR 0 and EUR 0.5 million in the financial year 2024 (previously: EUR 0.75 million to EUR 1.5 million). The forecast adjustment was necessary because the management board no longer expects the operating result to reach the originally targeted level due to the macroeconomic environment, in particular the current difficult conditions on the art market.

The publication of the quarterly statement for the third quarter of 2024, originally scheduled for November 8, 2024, is now to take place on November 11, 2024, due to the forecast adjustment.