Ritchie Bros. Auctioneers Publishes Monthly Auction Metrics
VANCOUVER, July 7, 2017 /CNW/ - Ritchie Bros. Auctioneers Incorporated (NYSE andTSX: RBA) has published its June 2017 auction metrics on the company's website. This information can be accessed at the following link: https://investor.ritchiebros.com/historical-auction-metrics
Highlights to the Monthly Auction Results:
- Gross Auction Proceeds[1] (GAP), including Iron Planet, totalled $556 million for the month of June – a 3% increase from the prior year.
- Iron Planet contributed approximately $77 million to June GAP representing 14% of the combined proceeds.
- Year on year GAP results for Ritchie Bros without including IronPlanet results are down 11% from June 2016.
- Both Ritchie Bros. and IronPlanet GAP faced macro conditions resulting in a reduction in the volume of equipment transacting in 2017 versus 2016 with IronPlanet Q2 2017 GAP results being 18% lower than Q2 2016.
- IronPlanet's GAP numbers were impacted by difficulty in hiring sales talent ahead of the certainty that the transaction with Ritchie Bros. would be closed. We expect the impact to be mitigated with the integration of the combined sales force post closing of the transaction on June 1st.
- Historical Auction Metrics for Consignors, Lots, Registrants and Buyers represents statistics for Ritchie Brothers Auctions only as the metrics are not directly applicable to the IronPlanet business.
Monthly auction metrics should not be considered indicative of quarterly, annual or future performance. Auction metrics and corporate performance vary considerably month-to-month, due to the number of auctions held each month and seasonal factors. Ritchie Bros.' actual results could differ materially from those implied by this monthly auction disclosure. Investors are encouraged to review Ritchie Bros.' performance on a 12-month rolling or annual basis before making investing decisions.
| [1] Current month results are preliminary and subject to adjustment in the subsequent month as final results are processed. |
| NOTE: Gross Auction Proceeds for 2014 onwards include GTV (Gross transaction value) for EquipmentOne. From June 1, 2017 also includes IronPlanet. |
About Ritchie Bros.
Established in 1958, Ritchie Bros. (NYSE andTSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a multitude of sectors, including construction, transportation, agriculture, energy, oil and gas, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offers live auction events with online bidding; IronPlanet, an online marketplace with featured weekly auctions and providing its exclusive IronClad Assurance® equipment condition certification; EquipmentOne, an online auction marketplace; Mascus, a leading European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales. The company also offers sector-specific solutions including GovPlanet, TruckPlanet, and Kruse Energy Auctioneers, plus equipment financing and leasing through Ritchie Bros. Financial Services. For more information about the unprecedented choice provided by Ritchie Bros., visit RitchieBros.com.
SOURCE Ritchie Bros. Auctioneers
Erwyn Naidoo, Investor Relations, Phone: 1.778.331.5219, Email: [email protected]
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