Click here to close now.




















Welcome!

Microsoft Cloud Authors: Greg O'Connor, Liz McMillan, Aleksei Gavrilenko, Elizabeth White, Pat Romanski

News Feed Item

Ritchie Bros. conducts final auctions of 2012 and sets new records

Record $3.9 billion of equipment sold in 2012, including $1.3 billion sold to online bidders

VANCOUVER, Dec. 21, 2012 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE and TSX: RBA), the world's largest auctioneer of industrial equipment, sold approximately $3.9 billion of equipment at 328 unreserved auctions around the world in 2012. This represents a 5% increase in gross auction proceeds over 2011 and the highest gross auction proceeds in Company history. The Company achieved gross auction proceeds of $1 billion in the fourth quarter alone. Ritchie Bros. (www.rbauction.com) attracted record online bidder registrations and sold approximately $1.3 billion of equipment, trucks and other assets to online bidders in 2012, an 18% increase over 2011 and the highest amount ever sold online by the Company in one year.

Ritchie Bros. conducted its final unreserved auctions of 2012 yesterday (December 20) in Los Angeles, California, and St. Louis, Missouri and plans to release its full audited annual financial statements and Management's Discussion and Analysis for 2012 on February 26, 2013. All dollar amounts in this release are stated in United States dollars, unless otherwise indicated.

Summary comments
Peter Blake, Ritchie Bros. CEO, commented: "Against the backdrop of market turbulence through the year, we are pleased with our 2012 results as we emerged well positioned to continue the growth of our core unreserved auction business and we are ready to begin a new path that will introduce a new customer base to our brand. In 2012, we saw the intense competition for quality low hour used equipment recently transition to a less competitive and more familiar environment for our business to grow over the long term. These changes in the evolving equipment market contributed to our performance in the year where we saw significant gains in our online presence and bidder portal, with over 5 million unique visitors to our 21 language website and $1.3 billion in annual online equipment sales. Our auctions in Canada recorded over $1 billion in gross auction proceeds for the year, an amazing feat from our network of 10 permanent auction sites within Canada."

"We are realizing benefits, from prior investments in capital and strategic initiatives, ranging from our continuing improvements in operating leverage to the expansion of our global auction site network with our new Donington Park, UK yard and the opening of replacement sites in Chehalis, WA (replacing Olympia, WA) and Raleigh-Durham, NC (replacing Statesville, NC)." added Mr. Blake. "2013 is shaping up to be a great year of milestones, with the impending launch of our new online, non-auction marketplace as a result of our AssetNation acquisition. We also will be conducting our first unreserved auction in Beijing, China, as well as our upcoming six-day auction in Orlando, Florida and Grand Opening auction in Geelong, Australia - all demonstrating the breadth in our mission statement to deliver compelling business solutions that enable the world's builders to easily and confidently exchange equipment."

Industrial auction results

  Year ended December 31, 2012 Year ended December 31, 2011
Number of industrial auctions 221 228
Bidder registrations 389,500 385,000
Buyers 99,250 95,550
Consignments 42,100 41,300
Lots 287,000 286,500

Average industrial auction

  Year ended December 31, 2012 Year ended December 31, 2011
Gross auction proceeds $16.5 million $15.5 million
Registered bidders 1,760 1,690
Consignors 190 181
Lots 1,300 1,180

The world's largest heavy equipment auction: Orlando, FL
Ritchie Bros. held the world's largest heavy equipment auction in Orlando, Florida on February 13 - 18, 2012 and, in the process, broke multiple Company records. New records were set for gross auction proceeds ($203 million), number of lots sold (more than 10,000), total number of registered bidders (8,670), number of sellers (830), online gross auction proceeds (more than $47 million) and number of online bidders (4,070).

New Canadian sales record
The Company achieved a historical milestone after selling more than CA$1 billion of equipment and trucks in its Canadian auctions in 2012. The new record was set at the Ritchie Bros.' unreserved public auction in Edmonton, AB on December 13 - 14, 2012. Other 2012 highlights from Ritchie Bros. Canadian auctions include:

  • Largest Canadian auction in Ritchie Bros. history: Edmonton, AB on April 24 - 26, 2012 CA$108 million ($110+ million)
  • Largest Saskatchewan auction in Ritchie Bros. history: Saskatoon, SK on December 4, 2012 CA$30 million ($30+ million)
  • Largest Quebec auction in Ritchie Bros. history: Montreal, QC on December 5 - 6, 2012 CA $42 million ($43+ million)

First China auction announcement
On November 28, 2012, Ritchie Bros. announced it will be holding its first unreserved public auction in China during the first half of 2013. The Company will bring the certainty of unreserved auctions to Chinese equipment buyers and sellers now that the Company's Wholly Owned Foreign Enterprise application has been approved by the Chinese government.

Ritchie Bros. has formally leased land in the Tianzhu Free Trade Zone (Shunyi, Beijing) in preparation for this first unreserved public auction in China. Strategically located within minutes of Beijing Capital International Airport, the Tianzhu Free Trade Zone is connected to one of China's largest roll-on, roll-off ports in Tianjin.

Other auction site records broken and milestones reached in 2012
Ritchie Bros. set a number of other records in 2012, including:

  • Tipton, California - $17 million: new regional record and most agricultural lots ever sold at a US auction (February 17)
  • Brisbane, Australia - AU$52 million ($54 million): the largest single-day auction in Company history (March 20)
  • Caorso, Italy - €13 million ($17 million): the largest Italian auction in Company history (March 8 & 9)
  • London, Ontario - CA$3 million ($3 million): new regional record (March 28)
  • Polotitlan, Mexico - Nearly $19 million: the largest Mexican auction in Company history as well as most bidders registered for a Mexican auction (March 28 & 29)
  • Regina, Saskatchewan - CA$9 million ($9 million): new regional record (March 29)
  • Toronto, Ontario - CA$27 million ($28 million): new regional record (September 25 & 26)
  • Raleigh-Durham, North Carolina - $76 million: new regional record and first time selling more than 60 D11 crawler tractors in a single auction (September 26 & 27)

Auction site network expansion
Ritchie Bros. conducted Grand Opening auctions at four new or replacement permanent auction sites in 2012:

  • Las Vegas, Nevada
  • Donington Park, United Kingdom
  • Chehalis, Washington (replaced Olympia, Washington)
  • Raleigh-Durham, North Carolina (replaced Statesville, North Carolina)

Dividends
Ritchie Bros. increased its quarterly cash dividend in 2012, and paid out total dividends during the year of approximately $50 million compared to $46 million in 2011.

Online bidding statistics
Ritchie Bros. sold over $1.3 billion of equipment, trucks and other assets to online buyers in 2012, representing a 18% increase compared to $1.1 billion in 2011 and more than any other company in the world. Internet bidders comprised over 60% of the total bidder registrations at Ritchie Bros. industrial auctions in 2012.

Website statistics
The Ritchie Bros. website (www.rbauction.com) attracted more than 5.5 million unique visitors in 2012 (a 38% increase compared to last year), and they had over 12.8 million visits to the website (28% more than 2011).

Upcoming auctions
There are currently 77 unreserved auctions on the 2013 Ritchie Bros. auction calendar at www.rbauction.com, which commences with a two-day auction in Houston, Texas on February 6 & 7, to be followed by auctions in Las Vegas, NV (February 8), Donington Park, UK (February 12), Phoenix, AZ (February 12 & 13), Tipton, CA (February 15) and a six day auction in Orlando, Florida on February 18 - 23. 2013.

Definitions of non-GAAP measures
Gross auction proceeds represent the total proceeds from all items sold at Ritchie Bros. auctions. The Company's definition of gross auction proceeds may differ from those used by other participants in its industry. Gross auction proceeds is an important measure the Company uses in comparing and assessing its operating performance. It is not a measure of the Company's financial performance, liquidity or revenue and is not presented in its consolidated financial statements. The Company believes that auction revenues, which is the most directly comparable measure in its Consolidated Income Statements, and certain other line items, are best understood by considering their relationship to gross auction proceeds. Auction revenues represent the revenues earned by Ritchie Bros. in the course of conducting its auctions, and consist primarily of commissions earned on consigned equipment and net profit on the sale of equipment purchased by the Company and sold in the same manner as consigned equipment.

About Ritchie Bros.
Established in 1958, Ritchie Bros. Auctioneers (NYSE and TSX: RBA) is the world's largest industrial auctioneer, selling more equipment to on-site and online bidders than any other company in the world. Ritchie Bros. offers services that enable the world's builders to easily and confidently exchange equipment. The Company conducts hundreds of unreserved public auctions each year, selling a broad range of used and unused industrial assets, including equipment, trucks and other assets utilized in the construction, transportation, agricultural, material handling, mining, forestry, petroleum and marine industries. Ritchie Bros. has over 110 locations in more than 25 countries, including 44 auction sites worldwide. The Company maintains a website at www.rbauction.com and sponsors an equipment wiki at www.RitchieWiki.com.

Forward-looking Statements
The discussion in this press release relating to future events or operating periods contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) that involve risks and uncertainties, including, in particular, statements regarding anticipated results for future periods; the continued growth of the Company's unreserved auction business; the impact of introducing a new customer base; anticipated benefits from investments in capital and strategic initiatives; the impact from launching a new online, non-auction marketplace; and the impact from the first unreserved auction scheduled to be conducted by the Company in China. These risks and uncertainties include: the numerous factors that influence the supply of and demand for used equipment; fluctuations in the market conditions and values of used equipment; seasonal and periodic variations in operating results; actions of competitors; the success of the Company's new initiatives (including the new marketplace); economic and other conditions in local, regional and global markets; and other risks and uncertainties as detailed from time to time in the Company's SEC and Canadian securities filings, including the Company's Management's Discussion and Analysis of Financial Condition and Results of Operations for the year ended December 31, 2011 and for the three and nine month periods ended September 30, 2012, available on the SEC, SEDAR and the Company's websites. Actual results may differ materially from those forward-looking statements. The Company does not undertake any obligation to update the information contained herein, which speaks only as of this date.

SOURCE Ritchie Bros. Auctioneers

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducted a live demonstration of how quickly application development can happen when the need to comply wit...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Architect for the Internet of Things and Intelligent Systems, described how to revolutionize your archit...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with APIs within the next year.
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.