Catawiki, an Amsterdam-based online catalog and auction house for collectible, has made a loss of more than €12 million last year. As per the report from RTL Z, major shareholder NOM acknowledges that the company has gone through difficult times. As per the annual accounts deposited by Catawiki with the Chamber of Commerce, the turnover increased from just under €17 million in 2015 to nearly €47 million in 2017.
On the other hand, the losses also peaked from €7.2 million in 2015 to €20 million in 2017. In the recent financial statement, Catawiki’s revenue remained at €45 million but made a loss of around €12.3 million. With continuous loss and no new capital injection, the equity is expected to go negative this year. As per the company claims, the required changes have been made. They also said, “a point of sustainable profitability is approaching.”
The supervisory board was changed back in May due to the departure of four supervisors – Jeroen van Onna (NOM), Lorrie Norrington (Lead Edge), founder Marco Jansen and investor Arthur Kosten (formerly Booking.com). However, the major American shareholder Lead Edge remained represented in the supervisory body.
If you are unaware, Catawiki is an auction website, which hosts over 160 weekly auctions in various categories, including comic books, coins, stamps, art, and much more. It was founded by Marco Jansen, René Schoenmakers, in 2008.