Icecat Q3-2021: rapid growth in turnover and profit

The turnover of Icecat N.V. (ISIN: NL0012751226) increased by 18% in the third quarter of 2021 to 2.9 million euros compared to the same period last year. Growth is on an upward trend.

Gross profit also increased by 18% over the same period. And, as operating expenses remained stable, Icecat’s EBT even improved by 58% to 0.75 million euros. This adds to the already solid cash position, which has proved useful in recent acquisitions.

Other developments

The new external auditor approved Icecat’s annual figures for 2020, and Icecat posted these recently including an auditor’s report. Despite challenges in the currently heated labor market, Icecat appears to be able to continue to fill its international and local vacancies.

As part of the Icecat employee stock incentive plan, during the third quarter, employees purchased 3,285 depository receipts of Icecat shares via NPEX for an average price of 8.77 euros per certificate for a total amount of 28,816 euros.

Icecat’s share in where-to-buy provider Hatch has increased by several percent to 44% due to the allocation of unused employee shares. In addition, a preliminary agreement has been concluded with a strategic buyer of Icecat’s share in Hatch B.V. We expect to be able to provide more clarity about this possible transaction and the financial consequences around the end of the current calendar year.

Non-financial KPIs

The COVID-19 lock downs accelerated e-commerce adoption. This was visible in the development of our online footprint. The easing of retail lock downs is slowing e-commerce growth back to “normal” proportions. Traffic to Icecat’s online catalog grew by 42%, and the number of users grew by 18%. Product datasheet (PDS) downloads during Q3-2021 increased 86% to 3.5 billion compared to the same period a year earlier. Icecat’s database increased by 500K PDSs in the third quarter. At the same time, the average production cost per PDS decreased by 8%.

English press release

Nederlands persbericht