Auction Technology Group plc (LSE:ATG) posted pro forma constant‑currency revenue growth of close to 8% in the six months to 31 March and expects H1 revenue of c.$125m, leaving management comfortable to confirm its FY26 guidance.
Arts & Antiques led the improvement, driven by atgShip and GMV growth — helped by Easter timing — while Industrial & Commercial saw a modest revenue decline. Chairish continued to deliver “good pro forma constant currency revenue growth”, and remains on track to deliver $8m of annual operational synergies by FY27.
Adjusted EBITDA came in line with expectations, aided by LiveAuctioneers commission growth, Chairish synergies and group cost efficiencies. The group said adjusted EBITDA margin will reflect Chairish consolidation and the dilutive effect of value‑added services. ATG recently launched a modest cost‑saving programme that will boost margins in FY27 and slightly in H2 26.
Net leverage improved to c1.8x adjusted net debt/adjusted EBITDA at the end of March (down from 2.0x at end‑December 2025). The board reiterated FY26 targets: pro forma constant‑currency revenue growth of 4–5% and an adjusted EBITDA margin of 34.5–35.5%.
"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 A&A GMV which has been a focus area," John‑Paul Savant, Chief Executive Officer, said.
The group will publish interim results on 14 May.
