20th Apr 2026 10:28
(Alliance News) - Auction Technology Group PLC on Monday confirmed its outlook for the financial year ending in September, as it said its long-serving chief executive officer, John-Paul Savant, will stand down after a "short orderly handover period".
The London-based auction market operator said it is at an advanced stage of its process to appoint a successor to Savant, who has spent more than ten years as CEO. The company promised a further announcement "in due course".
Auction Technology shares were down 4.7% to 373.40 pence early Monday in London. The stock is down 34% over the past 12 months.
Back in February, potential suitor FitzWalter Capital Ltd decided against making a firm offer, after its proposal of 400p per share was rejected by the Auction Technology board.
Chair Scott Forbes said the company is looking for a new CEO "with a strong commercial and operational track record as well as considerable marketplace, e-commerce and public company leadership experience". He said the company is confident of maintain its "good strategic and trading momentum" during the leadership transition.
Auction Technology confirmed its financial 2026 guidance of revenue growth between 4% and 5% on a pro forma constant currency basis, with an adjusted earnings before interest, tax, depreciation and amortisation margin between 34.5% and 35.5%.
Revenue growth will be more weighted to the first half, the company said. It expects to report revenue of USD125 million for the first half of the year, with trading remaining positive in the second quarter after "good momentum" in the first. It expects first-half pro forma constant currency revenue growth to be close to 8%.
Auction Technology adds that first-half adjusted Ebitda was in line with expectations. It made further cost cuts in the first half that will provide a small benefit to margins in the second half and improve margins in financial 2027.
The company said financial 2026 results will be in line with the guidance it provided back in November and with market expectations. These are for adjusted Ebitda of USD83.1 million to USD85.6 million on revenue of USD239.8 million to USD244.9 million. In financial 2025, Auction Technology reported adjusted Ebitda of USD76.8 million on revenue of USD190.2 million.
"We continue to focus on our strategy for extending our leading position in the curated second-hand goods market. ATG has delivered good trading and pro forma growth in H1 26, and I'm particularly pleased to report our progress on driving [arts & antiques gross merchandise value] which has been a focus area," says CEO Savant.
By Tom Waite, Alliance News editor
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