artnet AG: artnet adjusts forecast for fiscal year 2023

EQS-Ad-hoc: artnet AG / Key word(s): Change in Forecast
artnet AG: artnet adjusts forecast for fiscal year 2023

22-Dec-2023 / 19:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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New York/Berlin, December 22, 2023 - artnet AG ("Company") decided today to
adjust its forecast for the 2023 fiscal year. The Company expects revenues
of around 26M USD for the 2023 fiscal year (previously: 28M - 30M USD).
Additionally, the Company now expects to achieve an operating profit (=EBIT)
of around USD -0.7 million (previously: between USD 1.0 million and USD 1.6
million) for the 2023 fiscal year. The adjustment of the forecast is due to
lower than expected performance in the Marketplace segment, particularly in
the fourth quarter of the current fiscal year, caused primarily by the
worldwide economic headwinds and the associated art industry specific
downturn. Furthermore, several large Data and Media contracts, which were
expected for the fourth quarter of 2023, have been delayed and are now
expected to be realized in the first quarter of the 2024 fiscal year.


Contact:
Sophie Neuendorf
Vice President, Artnet AG
sneuendorf@artnet.com


End of Inside Information

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   Language:       English
   Company:        artnet AG
                   Oranienstraße 164
                   10969 Berlin
                   Germany
   Phone:          +49 (0)30 20 91 78 -0
   Fax:            +49 (0)30 20 91 78 -29
   E-mail:         info@artnet.de
   Internet:       www.artnet.de
   ISIN:           DE000A1K0375
   WKN:            A1K037
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Stuttgart, Tradegate Exchange
   EQS News ID:    1803521

End of Announcement EQS News Service
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1803521 22-Dec-2023 CET/CEST