Auction Technology Group Confirms FY26 Guidance Amid CEO Transition

Auction Technology Group Plc (ATG) has announced that CEO John-Paul Savant will step down from his position after more than ten years of service. Despite the leadership change, the British online marketplace company has reaffirmed its full-year 2026 guidance, citing positive trading momentum in the second quarter that builds upon a strong first quarter. For the six-month period ending March 31, ATG anticipates interim revenue of approximately $125 million. The company reported proforma constant currency revenue growth of nearly 8% for the period, which rises to approximately 9% when calculated at actual rates. Performance was mixed across business segments. The Arts & Antiques division saw strong revenue growth, supported by GMV gains and favorable Easter timing. In contrast, the Industrial & Commercial segment experienced a modest decline in revenue. Meanwhile, the integration of Chairish continues to deliver positive results, with operational synergies remaining on track to reach an $8 million annual run rate by fiscal 2027. Looking ahead to the full year 2026, ATG expects proforma constant currency revenue growth of 4-5%, with the majority of that growth weighted toward the first half of the year. The company is targeting an adjusted EBITDA margin between 34.5% and 35.5%, supported by commission growth from LiveAuctioneers and group cost efficiencies. Shares of Auction Group on the London Stock Exchange responded positively to the update, trading up 1.98% at 392 pence. The company is scheduled to release its full interim results on May 14.