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2019 proves positive for Ritchie Bros. in annual results

2019 proves positive for Ritchie Bros. in annual results

Ritchie Bros. has reported its results for the fourth quarter, as well as the full year, ending December 31, 2019.  The company reports that while revenue slipped slightly in the fourth quarter its year was solid overall.

Q4 consolidated results

  • Total revenue in Q4 2019 decreased 7% to $332.2 million as compared to Q4 2018
  • Service revenue in Q4 2019 increased 10% to $218.5 million as compared to Q4 2018
  • Inventory sales revenue in Q4 2019 decreased 28% to $113.7 million as compared to Q4 2018 
  • Total selling, general and administrative expenses was $95.8 million compared to $95.6 million in Q4 2018 
  • Operating income in Q4 2019 increased 27% to $71.5 million as compared to Q4 2018

Q4 auctions & marketplaces segment results

  • GTV1 in Q4 2019 increased 3.5% to $1.4 billion compared to Q4 2018 
  • A&M total revenue in Q4 2019 decreased 7% to $298.0 million as compared to Q4 2018
  • Service revenue in Q4 2019 increased 13% to $184.2 million as compared to Q4 2018
  • Inventory sales revenue in Q4 2019 decreased 28% to $113.7 million as compared to Q4 2018

Other developments

Ritchie Bros. announced on December 16, 2019 that Ann Fandozzi will be joining the company as its new CEO, and member of the Board of Directors, effective January 6, 2020.

Annual consolidated results

  • Total revenue increased 13% to $1.3 billion as compared to 2018
  • Service revenue increased 7% to $804.0 million as compared to 2018
  • Inventory sales revenue increased 22% to $514.6 million as compared to 2018 
  • Total SG&A was $382.4 million in 2019 compared to $382.7 million in 2018 
  • Operating income increased 21% to $223.2 million as compared to 2018 
  • Cash provided by operating activities was $332.8 million for the year ended December 31, 2019 
  • Declared quarterly dividends aggregating to $0.76 per common share in 2019

Annual auctions & marketplaces segment results

  • GTV increased 3.6% to $5.1 billion compared to 2018 
  • A&M total revenue increased 14% to $1.2 billion as compared to 2018
  • Service revenue increased 8% to $678.8 million as compared to 2018
  • Inventory sales revenue increased 22% to $514.6 million as compared to 2018

Company info

9500 Glenlyon Parkway
Burnaby, BC
CA, V5J 0C6

Website:
rbauction.com

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