Catawiki 2021 financial results: another year of healthy growth

    GMV increased 17% over the full year 2021 reaching close to half a billion EUR

      Revenue growth of 13% over exceptional year 2020, CAGR of 24.5% over the last two years    

        Adjusted EBITDA well above break-even at €1.9M while increasing investments in key strategic business areas 

          Figures confirm Catawiki is well positioned to maintain sustainable growth, delivering strong cash generation, and keep pursuing its mission to fulfil people's passions 


          AMSTERDAM, 10 JUNE 2022 - Catawiki, the leading online auction marketplace for special objects, announced its full-year results for 2021. The company’s growth trajectory remains strong with a 17% increase in GMV (Gross Merchandising Value) and a strong topline growth, as revenue increased by 13% to €86.8M. 


          Over the past two years, characterised by periods of Covid-19-induced closures and openings and correlated sales volatility, average growth rate stood at a 20-25% YoY. GMV increased by more than 50% in 2021 compared to 2019 due to increased adoption of online platforms during the first pandemic year, and with around 90% of Catawiki's GMV currently generated by returning buyers, the past couple of years laid a strong foundation for future growth. 


          To accommodate this further growth, Catawiki accelerated total investments by over 20% in 2021. While increasing investments and higher expenses in key areas, its underlying business showed a healthy performance with a gross profit level of 75% and adjusted EBITDA of €1.9M. 

          * 2020 figures have been restated as Catawiki prepared its 2021 financial statements according to IFRS. This also resulted in redefining our key metrics such as GMV and Adjusted EBITDA.

          ** GMV (Gross Merchandise Value) represents the total value of the objects sold on the marketplace within the applicable period, excluding shipping fees and net of refunds associated with cancelled transactions. 


          2021 Results

          Catawiki’s growth in 2021 was driven by the continuation of the international expansion, the higher buyer demand for special objects and the strong appeal to younger demographics. 


          Italy, France and the Netherlands have emerged as Catawiki’s largest markets, while investments in growth markets Germany and Spain are being ramped up. Germany is one of our faster growing markets with 30% YoY growth thanks to expanded marketing efforts and further improvement of the localised user experience. 


          Demand for special objects in the categories Interiors & Decorations, Jewellery and Wine was particularly high last year, the former driven by consumer search for rare design pieces to decorate their homes in the second pandemic year, and the latter by a growing trust in buying luxury goods online. In Modern & Contemporary Art, the company’s strategy of working directly with artists has proven to be strongly successful with thousands of artists having sold nearly 150,000 artworks since 2019 directly on Catawiki. Catawiki’s increasing appeal to younger age groups, with Gen Z being the fastest growing visitor demographic, was also evidenced by the steeply increasing popularity of Sports and Trading Cards and Vintage Technology, categories driven by the younger generations’ nostalgia sentiment. 


          Ravi Vora, CEO at Catawiki, said “Special objects have traditionally always been hard to find, offline and difficult to price. With Catawiki we’re reversing that trend. We’re making special objects accessible to everyone and are thereby fulfilling what’s most dear to everyone - their passions. Our 2021 figures, which demonstrate a growing and healthy balance sheet, increasing popularity abroad and unique customer loyalty, show that we’re again one step closer in becoming the most popular destination for special objects across the globe.


          Investing in long term-growth in 2021 and beyond        

          2021 was a year of investments in Catawiki’s long-term growth. The leadership and senior management team was strengthened and Catawiki’s team has grown from 594 in 2020 to 750 FTEs at year-end 2021, with an increase of 45% in the workforce outside the Netherlands. The focus on enhancing the marketplace's technology stack was significant, centred on new features aimed at improving the users’ experience due for release mid this year, as well as investments in marketing to support internationalisation.  


          For this year and the coming ones, investments will continue to focus on sustainable growth. In May, Catawiki moved into its new headquarters in the heart of Amsterdam, where art history and the high-tech ecosystem meet. New talent recruitment initiatives, further technology updates and expansion-oriented marketing actions will continue to be the company's future focus. 


          Notes to Editors

          For more information reach out to Ruben Cardol at catawiki@cffcommunications.nl or to press@catawiki.com catawiki@cffcommunications.nl.