Continued Fast Growth of Icecat in H2-2024, benefits from AI

The revenues of Icecat N.V. (ISIN: NL0012751226) have increased by 11% over the first six months (H2) of 2024 to 7.6 million euro compared to the same period last year. The growth rate is stable, according to the company’s report over the last six months of 2024. Icecat’s gross profit increased over the same period by 12%. The operating expenses were expanding by 16%. And, the profits (EBT) increased by 8% for this period. These earnings contribute to the already very solid cash position. All key financial metrics of Icecat have shown healthy progress.

Investments

The second tranche of Icecat Capital’s investment in fair-trade, specialty coffee brand Wakuli was executed. Further, we are continuously evaluating and negotiating other investment or divestment opportunities.

Board & Organization

All board members remained in their posts during H2-2024. Further, we simplified our organization by merging Iceshop BV and Icecat Syndy BV into Icecat Commerce BV per end of December 2024. This creates business substance regarding our ecommerce and PIM solutions in the market, helps to unify our platforms, strengthens our main Icecat brand, and simplifies our internal administrative processes.

Purchasing DRs

For its employee incentive plan, Icecat’s balance of purchased Depository Receipts of Icecat shares via NPEX is per December 31, 2024: 178,295 DRs. We expect to continue to purchase DRs via NPEX during 2025 as part of this incentive plan.

Innovation

Our ALL-AI strategy continues to generate efficiency benefits throughout our complete publishing process. It starts already to contribute to the innovation of our service offering.

Source: Icecat H2-2024 report