The revenues of Icecat N.V. (ISIN: NL0012751226) have increased by 7% during the first quarter of 2023 compared to the same period last year. The gross profit increased over the same period by 9%. Due to rather stable operating expenses, the EBT increased by 16%. These earnings contribute to the already very solid cash position.
We maintained growth of the business, despite a post-pandemic cooldown in the e-commerce market and recession fears, and we strive to maintain or further improve growth during 2023. The new orders increased during Q1 2023 with around 20%, which indicates that revenues growth is trending upward. Therefore, the outlook for our product information management services appears to remain solid.