Icecat H2-2021 profit grows explosively and launch Smart Fund

The gross profit of Icecat has exploded in the second half of 2021 to 27 million euros. This is mainly due to a one-off income of 26 million euros, based on the book profit on the recent sale of Icecat’s share in Hatch. An amount of approximately 8 million euros has been rolled over in shares of the American buyer, PriceSpider. As the Hatch share was in the books for 4 million euros, the net contribution to the cash position is therefore approximately 22 million euros.

In the second half of 2021, Icecat’s regular turnover also increased by 14% to 5.8 million euros, and the operational Icecat profit (EBT) increased slightly to 960K euro (from 923K euro).

2021 was our best year ever, in all respects. We have the exceptional situation that the annual profit was significantly higher than the turnover. The sale of minority shareholding Hatch will not affect Icecat’s future revenues and earning capacity. On the contrary, because with the extensive cash position we can participate in other promising SaaS companies and also invest heavily in accelerating Icecat’s growth.

Martijn Hoogeveen, CEO Icecat

Smart Fund

Based on its general reserves, Icecat creates a fund of 30 million euros for investing in e-commerce SaaS or cloud companies: Icecat Capital. “This is Icecat’s sweet spot in which we have approximately 25 years of experience. So, this is so-called smart capital,” says Martijn Hoogeveen. “As we can leverage our global relations and knowledge of the industry.”

Board

The board appoints René Rozendal as Chief Business Development Officer per 1st of January. He focuses on the expansion of Icecat in new branches. In addition, Guillaume Stritmatter becomes the new Chief Technology Officer. He oversees the integration of the various platforms within the Icecat group into one ecosystem.

For further details see Icecat’s press release (persbericht).