Artmarket (PRC) Q4 2024 earnings summary

Executive summary

• Consolidated equity at €32.1M as of 12/31/2024, up from €31.6M a year earlier.

• Net income for 2024 was €635K, down from €844K in 2023.

• Revenue rose slightly to €8.36M in 2024 from €8.21M in 2023, despite global economic and geopolitical challenges.

• Artprice by Artmarket remains the global leader in art market information, with 9.3M members and 871,000 artists referenced.

• 2024 marked the most dynamic year in global art market history, with 1.2M works auctioned (+5%) and 804,350 transactions, despite a 33.5% drop in global art market sales value.

Financial highlights

• Operating costs, especially IT, were well managed, supporting resilience against global energy shocks.

• No new significant items were added to the accounts between 2023 and 2024.

• Artmarket.com has no bond debt and has never conducted a capital increase except for employee options.

Outlook and guidance

• Launch of Intuitive Artmarket® AI in January 2025 positions the company as a global AI leader in art market information.

• Premium subscriptions enriched with AI are expected to drive recurring revenue growth.

• The company plans to deploy up to 20 specialized AIs by 2029, each dedicated to a business segment.

• Project DIGITS by Nvidia will equip all staff with advanced AI hardware, enhancing productivity and data security.