Artmarket (PRC) H1 2024 earnings summary

Executive summary

• Net income reached €340K for H1 2024, up from €330K in H1 2023, with consolidated revenue at a record €4,168K, surpassing all previous H1 results since 1997.

• Shareholders' equity increased to €31,881K as of June 30, 2024, compared to €31,046K a year earlier.

• Artprice by Artmarket remains the global leader in art market information, leveraging its unique documentary fund and digital transformation.

Financial highlights

• Revenue for H1 2024 rose to €4,168K from €4,063K in H1 2023, marking a new first-half record.

• Net income increased slightly year-over-year to €340K.

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

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

Outlook and guidance

• Intuitive Artmarket® AI is positioned as the main growth driver for 2024–2029, aiming to boost recurring revenue through advanced data and subscription services.

• Anticipates significant growth in the 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.