Icecat expanded by 19 percent in first 6 months of 2022

The revenues of Icecat (ISIN: NL0012751226) expanded by 19% over the first six months of 2022 to 6.4 million euros compared to the same period last year. The growth is trending upward.

Also, the gross profit increased over the same period by 19%. Due to one-time extra expenses, mainly related to the UAid fund to help the families of our Ukrainian colleagues escape war zones, the operating expenses increased more than the revenues, namely by 25%, which nevertheless led to a stable EBT of 1.5 million euro. These earnings contribute to the already very solid cash position.

We maintained growth of the business, post-pandemic, and we strive to maintain or further improve growth during the rest of 2022. During 2022, high inflation, and an e-commerce correction after fast-growth during the COVID-19 years, have become manifest. Furthermore, a general recession might become reality in major Western markets. Nevertheless, the outlook for our product information management services appears to remain solid.

In the first half of 2022, we invested in Virtuagym, a SaaS in the fitness industry. We are continuously evaluating other investment or divestment opportunities.

Martijn Hoogeveen, CEO of Icecat NV

Non-financial KPIs

The COVID-19 lockdowns are accompanied and followed by a quickened adoption of e-commerce, which is visible in Icecat’s online footprint. The number of product data sheet (PDS) downloads during H1-2022 increased by 48% to 8.6 billion year-over-year. This implies that the relevance of Icecat has increased. Icecat’s data-sheet production increased by 24% to 1.3 million new product data-sheets, and the database now contains more than 11 million PDSs, each available in around 60 languages. The cost per data-sheet (CPD) has improved by 13%.

Source:
H1-2022 report Icecat NV (pdf)
English press release
Nederlands persbericht