Artmarket (PRC) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached €4,168k, up 2.6% year-over-year, marking a record since 1997; net income rose 3% to €340k.

• Shareholders' equity increased to €31,881k as of June 30, 2024.

• The group remains debt-light, with strong cash reserves and continued investment in IT development.

• Artmarket.com continues to lead in art market data, expanding its AI-driven services and maintaining top-of-mind brand recognition in the sector.

Financial highlights

• Consolidated revenue: €4,168k (H1 2024) vs. €4,063k (H1 2023), a 2.6% increase and a new first-half record.

• Net income: €340k (H1 2024) vs. €330k (H1 2023), up 3%.

• Shareholders' equity grew by €835k year-over-year.

• Cash and equivalents: €2,055k at 30/06/2024.

• No bond debt and minimal capital increases, maintaining a strong balance sheet.

Outlook and guidance

• Continued rollout of Intuitive Artmarket® AI platform expected to drive recurring revenue growth.

• Expansion into education, research, and institutional markets identified as new growth vectors.

• Anticipates significant growth in NFT and Metaverse segments, with regulatory improvements in the US and Europe expected to accelerate adoption.

• The Metaverse project, nearly completed and fully funded by Groupe Serveur, is expected to drive future profitability with low operational costs.

• The group anticipates record auction volumes for 2024, with online sales and affordable art segments leading growth.