Revenue growth back to double digits and costs in control, despite the continuous challenging macroeconomic environment
Revenue stood at €98M, up 12% YoY, and adjusted EBITDA improved from €-8.9M to €-8.0M
Investments in marketing and technology resulted in a 20% growth in buyer and seller base, and a 40% growth in first-time bidders
The outlook remains confident, with the first quarter of 2024 continuing to reflect these positive trends
AMSTERDAM, 7 June 2024 - Catawiki, the leading online marketplace for special objects, today announced its full-year results for 2023. Amidst a year of zero growth for the eurozone and consumer confidence downturn, Catawiki reported €98M in revenue last year. This represents a 12% increase YoY (2022: €87.9M) and a significant uplift compared to the growth observed in 2022. Next to double digit growth, Catawiki was also better able to control costs, with the adjusted EBITDA improving to €-8.0M (2022: €-8.9M), representing an EBITDA margin increase of 200 bps. The trend of revenue growth and improved financial performance observed throughout 2023 has continued into the first quarter of this year.
While the sector faced difficulties, Catawiki continued to invest throughout 2023, focusing on marketing and technology. Alongside investing into new geographies, major partnerships were also forged throughout the year, including collaborations with the F1 racing team Scuderia AlphaTauri, the football team AS Monaco, and the cycling team Groupama-FDJ. Catawiki also continued to invest heavily in improving its user experience, focusing on increased personalisation and improved search functionalities for buyers, while simplifying the submission and selling process for sellers.
As a result, Catawiki observed a 20% increase in its buyer and seller base compared to the previous year, along with a remarkable 40% year-on-year surge in the number of people bidding on Catawiki for the first time. 2023 also saw the milestone achievement of surpassing 3 million objects sold and selling its most expensive object ever (Ferrari 812 GTS, sold for €415,000). As for categories, watches emerged as the biggest sales driver for the marketplace, up 35% in sales year-on-year.
“Despite the challenging macro economic environment we were able to grow double digits and have become more efficient. We also managed to invest strategically in commercial and product initiatives which positions us extremely well for future growth." remarked Ravi Vora, CEO at Catawiki.
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About Catawiki
Catawiki is the leading online marketplace to buy and sell special objects. Over 75,000 objects are offered in auction every week - each reviewed and selected by Catawiki’s hundreds of in-house experts specialised in Art, Design, Jewellery, Fashion, Classic Cars, Collectables and much more. Discover special objects for every passion on catawiki.com or download the app.
