Ritchie Bros. Posts Solid Results to End 2022; Our Focus Shifts to the Upcoming Shareholder Vote

Ritchie Bros. ended the year on a solid note, showing resiliency amid a tight equipment supply market. A key metric for auction players is gross transaction value, or GTV, which shows how much value Ritchie Bros. brings to sellers. For the full year, GTV increased 9% year on year to $6.0 billion. In economic upswings, equipment owners sell their aging equipment for newer machines, which, in turn, brings more volume to Ritchie Bros.’ auctions. We continue to see improvements in the supply chain across the heavy equipment space, giving us confidence that Ritchie Bros. will see increasing demand in the near term.