White Pearl Technology Group AB (Nasdaq First North: WPTG), a leading global provider of digital transformation solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2024.
Full Year 2024 Highlights:
- Revenue increased 29.3% to SEK 309.70M (2023: SEK 239.56M)
- EBITDA rose 49.5% to SEK 50.47M (2023: SEK 33.76M)
- EBIT increased 51.4% to SEK 50.22M (2023: SEK 33.17M)
- Profit before extraordinary adjustments improved 84.1% to SEK 49.67M (2023: SEK 26.98M)
- Profit decreased 6.1% to SEK 25.34M (2023: SEK 26.97M)
- Earnings per share (EPS) improved 22% to SEK 0.97 (2023: SEK 0.80)
Fourth Quarter 2024 Highlights:
- Revenue grew 39.9% to SEK 83.76M (Q4 2023: SEK 59.80M)
- EBITDA increased 89.4% to SEK 14.67M (Q4 2023: SEK 7.70M)
- EBIT rose 94.2% to SEK 14.70M (Q4 2023: SEK 7.58M)
- Profit before extraordinary adjustments increased 278.3% to SEK 15.70M (Q4 2023: SEK 4.15M)
- Profit grew 465.2% to SEK 16.92M (Q4 2023: SEK 2.99M)
- Earnings per share (EPS) increased 378% to SEK 0.62 (Q4 2023: SEK 0.13)
Financial Position:
- Cash position strengthened to SEK 23.7M (December 2023: SEK 11.2M)
- The debt-to-equity ratio improved significantly to 0.51 (from 1.21)
- Current assets increased 13% to SEK 97M
Marco Marangoni, CEO of WPTG, commented: "Our 2024 results demonstrate the strength and diversity of our business model, with substantial improvements across all key metrics. The combination of reduced working capital, increased cash balance, and decreased group liabilities has delivered an impressive set of results. We are well-positioned to achieve our 2028 strategic goals, further validating that White Pearl's business model continues to create substantial shareholder value."
Significant Events Q4 2024 (October-December 2024)
Corporate Governance
- EGM held on November 8, 2024, approving warrant programs and share issuance authorisation
- Implementation of share option program for executives and board members (December 3)
- Strengthened senior leadership with Ashley de Klerk appointed as Executive VP and Ibrahim Srour as Group COO
Strategic Acquisitions
- Completed acquisition of 51% stake in OneBrain
- Acquired Nuport Sverige AB, adding world-class software consulting capabilities
- Completed directed share issue raising SEK 9.0M
Business Development
- ECC signed a SEK 7.1M contract with EgyptAir for digital transformation
- The board visited African operations, reinforcing the regional growth strategy
- Successful US investor presentations in New York
- Initiated OTC Markets listing process in the US
Significant Events After Reporting Period (January 2025)
Strategic Growth
- Signed LOI to acquire Lumin4ry Consulting AB (SEK 20M deal)
- Outlined technology-driven growth strategy led by AI innovation
- Projected revenue growth to SEK 700M by 2028 with >17% EBITDA margin
Technology Development
- Enhanced AI platform deployment across multiple sectors
- AI and proprietary platforms are projected to contribute SEK 45M in revenue in 2025
Outlook
The Company maintains a positive outlook for 2025, with strong growth prospects across its markets. A revised forecast and guidance will be issued later in the year.
Investor Conference Call
WPTG will host an investor conference call on February 3, 2025, at 13:00 CET. Management and Board members will discuss the results and answer questions from investors and shareholders. Registration is available at https://whitepearltech.com/earnings-call/
For the complete financial report, please visit our investor relations website at https://whitepearltech.com/wp-content/uploads/2025/02/Q4-Report-Final.pdf
For further information, please contact:
Investor Relations
White Pearl Technology Group AB
Email: ir@whitepearltech.com
Phone: +46 707 340804
The company's Certified Adviser is Amudova AB, email: info@amudova.se.
About White Pearl Technology Group AB:
White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.
This information is regulated information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the contact person's agency set out above at 08:00 CET on February 3, 2025.
