EQS-News: Quartalsbericht zum ersten Quartal 2024: Stable performance with good prospects in the global art market | 03.09.24

Quartalsbericht zum ersten Quartal 2024: Stable performance Proud business conditions in the global art market

New York/Berlin, September 3, 2024: Artnet AG, the online marketplace and information market for the art market, has released the Quartalszwischenbericht for the first Quartal 2024. Der Gesamtumsatz sank 11% to 23.35 million. EUR in het Vergleich zu een Germisch Rückgang des gesamten Kunstmarkts von 29,5% in de Halbjahr van de Geschäftsjahres 2024. Artnet kan nie des Negative Auswirkungen des schwachen Kunstmarkts minimieren, unterstützt durch stable Ergebnisse in de Segmentsen Marktplatz und Daten. The bet for the first quarter of 2024 is 836 TEUR. The negative image mainly comes from the disadvantage that there is a lack of support in the middle segment, which results in the economical business environment. “The inflation that holds back the economic instability will be negative on the gesamten Kunstmarkt on the market. Because we thought that the luxury market market was lightened, it was negative on the Werbebudgetten that could make more money“says Jacob Pabst, Vorstand der Artnet AG.

The stubborn inflation is getting stronger and stronger due to the purchasing power and the purity of the customers in many economic areas. More national economies, especially Germany, have adopted their resolutions. The turbulent economic conjuncture in the year 2023 and in the first quarter of 2024 lead to this, that consumers become persistent. These are negative in the volume of the world on the art market. Which democratic choice in the year 2024 stands out for our uncertainty on the market. The management has decided that the art market has developed primarily by half a year. The perspective of active market dynamics can improve the economic conditions on the art market first 2025.

Although in the past year, Artnet has implemented strategic cost savings, supporting the financial stability of the company by 2024. One of the cost savings is the active change from Prime Standard to General Standard and the German stock exchange. In addition to the General Standard, which requires greater transparency in reporting, costs were saved by monitoring four-year financial reports. Artnet provides more information on half-year and annual reports on the main provision of activities during the term.

Artnet has developed the strict ESG guidelines of 2020, which define the requirements for the sale and see specific. The annual report 2023 contains Artnet’s new ESG report for 2023. The group’s strategy is based on a vision for a sustainable art business, an internal accountability and social commitment. With reporting statistics from the ESG initiative, Artnet is one of the most successful roles and an engagement fortress, positive ratings and sustainable joint actions for the future.

The Quartalsbericht zum first Quartal has been cut off here.

You will find further information and agreements regarding the theme of investor relations here.

About Artnet

Artnet is the largest platform for art with 60 million people per year. Founded in 1989, Artnet revolutionizes art and the well-being of people who discover, research and bring together the most art. Artnet’s market data is a single source for the art industry. With over 17 million auctions and AI and ML analyses, there are some great transparencies that set an example in the art market. Artnet’s Marketplace connects art galleries and auction houses with turbulent Nutzern and Kunden and offers a great selection of 290,000 works of art with Verkauf an. The online art auction platform Artnet Auctions offers an unparalleled Reichsweite, Liquidity and Efficiency. Artnet News reports with active analyses and expert commentary on the Ereignisse, Trends and People, the global art market. Artnet News is the most important news publication of the art industry. The synergy between the products of Artnet AG offers an enlightening system, the modern art market is informed and informed.

The Artnet AG is the Prime Standard of the Frankfurter Wertpaperbörse, the segment with the high transparency notebooks. The majority of the company was founded in 1989 by Artnet Worldwide Corporation, a hundreds of thousands of companies with Sitz in New York, Abgewickelt. Artnet Worldwide Corp. owns a subsidiary company in London, Artnet UK Ltd.

ISIN code: DE000A1K0375

LEI number: 391200SHGPEDTRIC0X31

Contact:

Sophie Neuendorf

[email protected]