Press Releases 2019-05-27T08:21:16+00:00

Press Releases Group A/S – Updated guidance for 2019

Published: 2019-12-05 22:00

No. 17/2019
Copenhagen, 5 December 2019

Updated guidance for 2019

In 2019 we have seen a stable market situation, and we expect a small increase in auction turnover for the full year of 1-3%.

We are affected by a more competitive market situation where we have had to increase the level of rebates given to sellers in some parts of the business, in order to maintain our market position.

Furthermore, the intake for the Fine Art auctions taking place in the last week of November and in December 2019 is lower than previously expected.

As a result we are now expecting the change in revenue compared to 2018 to be between 0% and -2% (5-7%), and EBITDA of DKK 10-15m (15-25m).

EBT for 2019 is impacted positively by the DKK 75.6m impact from the restructuring of the bond debt (unchanged).

All numbers are based on exchange rates at the end of November 2019.

Bengt Sundström, Chairman of the board

Carsten Rysgaard, CEO

Preben Vinkler Lindgaard, CFO

For press enquiries, please contact:
Susanne Sandsberg Klubien,
+45 26891909  

For other enquiries, please contact:
Preben Lindgaard

Certified Adviser: Erik Penser Bank AB
Telephone number: +46 8-463 83 00

Market place: Nasdaq First North Growth Market Premier Stockholm

This information is information that Group A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 23.00 pm CET on 5 December 2019.