Icecat 2021 profit soars to 28.5 million

The annual revenues of Icecat increased in 2021 year-on-year by 13% to €11 million. The net profit from operational activities increased during this period by 49% to €2.7 million. Including one-time effects the net profit including participations exploded even to €28.5 million (2020: €1.8 million). This means that the net profit per share expanded to €2.71 (2020: €0.17).

As a consequence the cash position of Icecat increased in 2021 from €6 million to €30 million. In contrast to previous years, and because of the extraordinary results, the board has reserved €4 million to payout dividends in 2022 (€0.38 per share). Icecat invests a further €3 million in scale-up Virtuagym, a global health and gym club service provider. The remaining funds are available for acquisitions, other investments in scale-ups, or to accelerate the growth of Icecat.

The one time effects are mainly caused by the sales of Icecat’s share in where-to-buy provider Hatch.

The figures are based on the preliminary annual report 2021 is published. In the coming months, the final version including the auditor’s report, will be readied. The board doesn’t expect material changes.

Annual report 2021 incl controller statement

Press release (English)

Persbericht (Nederlands)