Comment from Group CEO, Marco Marangoni, "WPTG achieved outstanding 100 per cent organic revenue expansion in the second half of 2023 compared to half year 2022, capturing increased demand for digital transformation expertise. With several acquisitions initiated by us last year, one has gone through, and a current bid to acquire Ayima Group is in progress. We are prepared for a dynamic year in 2024, leveraging both organic growth and growth through mergers and acquisitions."

Half Year 1 July to 31 December 2023

  • Net revenue amounted to 122.7 (104.0) MSEK
  • EBITDA was 16 (7.6) MSEK
  • Net Profit after tax for the period was 12.1 (4.3) MSEK
  • At the end of the period the cash at hand amounted to 11.2 (7.7) MSEK

Full Year 2023

  • Net revenue amounted to 239.6 (182.5) MSEK
  • EBITDA was 33.0 (20.3) MSEK
  • Net Profit after tax for the period was 28.3 (16.6) MSEK
  • Earnings per share basic and diluted was 1.23 SEK
  • Cash flow from operating activities was 7.4 MSEK

Significant Events during the second half year

  • Order over SEK 20 million from an African municipality for IT modernization.
  • The multi-year project worth SEK 27 million begun by an Ethiopian subsidiary for two major institutions implementing ERP solutions
  • Selected as IT support partner by a large African Municipality for optimizing essential systems.
  • We secured a 2-year, SEK 3.4 million deal from a major North India power utility for supporting vital operations.
  • 2 Letters of Intent signed with potential acquisitions and discussions continue.
  • White Pearl Technology Group is launches a strategic talent expansion plan across its Global Delivery Centers, estimating around 15% incremental impact at the group level, as it aggressively builds specialized competencies and youth skills while ensuring positive community impact

Significant Events after the end of the period.

Takeover Bid of Ayima

In Q1 2024, WPTG announced the bid to acquire Ayima, a leading listed global digital marketing solutions provider headquartered in Sweden. The acquisition will bring Ayima's revenues of over 130 million SEK into the WPTG group. Combined with WPTG's existing turnover, this deal increases WPTG's overall revenue scale by over 60%. It also bolsters WPTG's presence across Europe and North America. WPTG has announced a public offer to the shareholders of Ayima Group AB to acquire all shares in Ayima Group.

Acquisition of Ataraxy Digital

WPTG acquired a 50 percent share of Ataraxy Digital, a Latin America- based digital solutions company. This expands WPTG's portfolio in fast- growing Latin America markets. It also helps grow hardware manufacturing partnerships in India and China.

Comment from Group CEO, Marco Marangoni

Our business model continues to be relevant and the organic growth of WPTG points to the sustainability of our diversified solutions portfolio and geographic footprint. Our consistent large deal wins demonstrate the trust in WPTG's capabilities to enable digital transformation and technology-powered innovation partnering effectively with our customers. As shareholders, your confidence in our strategic direction catalyzed our journey as a listed company.

My leadership team and I remain firmly committed to rewarding that confidence by maintaining our industry-leading growth trajectory in the years ahead. WPTG achieved outstanding 100% organic revenue expansion in the second half of 2023 by capturing increased demand for digital transformation expertise. Our customizable offerings empower enterprises across industries to harness the exponential technology change pace.

Supported by over 70% earnings growth, we expanded investments in next generation capabilities including cloud solutions, artificial intelligence, and machine learning to enrich our portfolio. Through optimization initiatives spanning utilization improvements and global resourcing, we not only managed inflationary pressures but also improved overall profit margins. Our operational rigor coupled with the constant quest to challenge and enhance efficiency, positions WPTG for continued profitability gains.

Our integrated teams blend specialized expertise to rapidly create joint solutions that address complex needs of international clients. Local talent in each geography provides valuable market insights that combine with experienced leadership using proven methodologies to scale cutting-edge innovations globally.

Beyond expanding our regional delivery capabilities, we are complementing our core offerings through partnerships in adjacent areas. These next-gen competencies will further enhance the spectrum of end-to-end solutions we can provide to global enterprises seeking to digitally transform and innovate.

Growth Outlook

Our recently announced intent to aquire Ayima Group, the digital marketing solutions expert headquartered in Sweden, marks our largest acquisition and strategic investment into the digital innovation space. This addition followed our majority investment in Ataraxy, bringing differentiated Latin American strengths in artificial intelligence and user experience design.

The Ayima deal allows immediate growth acceleration in Europe and North America by combining search, content, and e-commerce strengths with our own portfolio of contemporary digital solutions. We see massive potential to rapidly scale in these high- value markets over the coming quarters.

Additionally, Ataraxy provides WPTG a robust foundation to tap rising demand for cutting- edge customer-centric technology innovations across Latin America like AI and UX design. Their new age specializations address a fast-growing regional appetite for digital elevation.

So expanding access and transformation offerings across Europe, North America and Latin America represents our strategic priority presently, while we continue augmenting capabilities in Asia and Middle East.

I am excited about the opportunities that lie ahead of us in 2024. Already we have announced some exciting new ventures and look forward to these crystallizing our long-term vision into effective shareholder value through outstanding results. Our aim is to build a long-term shareholder base that grows value with our company over time. I trust that you will continue this journey with me and my team as we continue in the exciting world of WPTG and Digital Technology.

This information is such information that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10:00 CET on the 26th of February 2024.

For further information, please contact:

Marco Marangoni, CEO, White Pearl Technology Group

E-mail: ir@whitepearltech.com, Phone: +598 93 370 044

Jenny Öijermark, IR-Manager, White Pearl Technology Group

E-mail: jenny.oijermark@whitepearltech.com, Phone: +46 707340804


The Company's Certified Adviser is Swedish North Point Securities AB.

About White Pearl Technology Group 

White Pearl Technology Group, based in Stockholm and listed on Nasdaq First North Growth Market as WPTG, comprises of 28 companies, operating in the information technology space. They are diversified IT companies selling their own solutions and products, as well as services and products of third-party vendors. The group has a presence in thirty countries throughout the world. The current focus of the group's business is emerging markets and specifically Africa, Asia, the Middle East, and to a lesser extent, Latin America. www.whitepearltech.com

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