The revenues of Icecat N.V. (ISIN: NL0012751226) have increased by 11% over the first three months (Q1) of 2024 compared to the same period last year. Similarly, the gross profit increased over the same period by 11%. The operating expenses were stable at 69% of revenues. The profitability was 24% and EBT improved by 7% to 0.87 million euro for this period. These earnings contribute to the already very solid cash position.
We maintained the growth of the business, and we strive to further improve growth during 2024. During the first quarter of 2024, inflation is trending down, and the e-commerce market and general economy are cooling down. However, despite these challenges, we believe that the outlook for our product information management services appears to remain solid.
We are continuously evaluating and negotiating new investment or divestment opportunities.
In this quarter, we started negotiating an investment in omnichannel specialty coffee brand Wakuli to help it expands its online and offline footprint, which is being concluded in April.
The number of product data sheet (PDS) downloads during Q1-2024 increased by 58% to 8.98 billion compared to the same period one year earlier. Icecat’s data-sheet production increased by 9% to 754K new product data-sheets, and the database contains now more than 18 million unique PDSs, each available in around 75 languages or locales. This implies that the relevance of Icecat has further increased.
During Q1 of 2023, we signed or upgraded contracts with a large number of clients. Most notable are contracts with Media Markt, AO.com, Salling Group (DK), Baristina, Philips Italia, Amazon Australia, Whirlpool, Hasbro Italia, and Computacenter.
Icecat became the official gold partner of BOL to help brands to improve their product presentations on the marketplace, see https://iceclog.com/icecat-gold-partner-bol/ .
The Icecat board adopted an ALL-AI (artificial intelligence) strategy, requiring all departments to include AI tools in their respective workflow. Our ChatGPT team is continuously using AI for editorial tasks. Visual AI has been implemented for editor-assisted product recognition and cropping of images.
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