White Pearl Technology Group AB
White Pearl Technology Group will shortly be listed at Nasdaq First North Growth Market in Stockholm, Sweden, the stock is named WPTG. The group comprises 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, Middle East, and to a lesser extent Latin America. For more information: www.whitepearltech.com
White Pearl Technology Group will shortly be listed at Nasdaq First North Growth Market in Stockholm, Sweden, the stock is named WPTG. The group comprises 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, Middle East, and to a lesser extent Latin America. For more information: www.whitepearltech.com
- Marco Marangoni CEO
Kungsgatan 29 111 56 Stockholm Sweden +598 93 370 044http://[email protected]
4. Jenny ÖijermarkIR-Manager
Kungsgatan 29 111 56 Stockholm Sweden +46 (0)707 340 804http://[email protected]
- Interview with Marco Marangoni, CEO of White Pearl Technology Group. Board member Anna Wiener Jiffer posed questions that addressed the key concerns and interests of potential investors.
“We’ve maintained our strong momentum, delivering a 19.3% increase in revenue compared to the same period last year. This purely organic growth further validates the high demand for our digital transformation expertise across diverse sectors.Group CEO of White Pearl Technology Group, Marco MarangoniDAM has the potential of transforming not only customers’ way of working but also fundamentally changing how IT consulting firms such as WPTG deliver services and solutions. A transformation of the IT-service industry is currently happening with the advent and widespread adoption of AI and we plan to revolutionise WPTG’s products and offerings over the next two to three years.WPTG India, MD, Shoukath KhanThe work done by the group from 2021 in the Middle East is now starting to pay off strongly. We anticipated a shift in the economic cycle in the region post-COVID and the investments were made expecting the current demand increase for IT services. Saudi Arabia is spearheading this cycle and WPTG has significant assets, people and offerings that we expect to perform well in the next two to three years.Osama Elsayed MD for WPTG in the Middle EastWe continue doing well as a business with continued growth across our regions and IT lines of business. Despite strong global geopolitical headwinds, the WPTG model remains resilient and continues delivering strong performances month after month. We are confident of delivering a good H1 performance to the marketMarco Marangoni, CEO at WPTGI see an exciting potential in WPTG by combining and utilizing solutions, skills and resources cost-effectively over large geographies as in South America, Africa and Middle East to optimize customer delivery and service and support. As I have been involved in growing Technology companies cross-border and especially in the SAP area, I have both experience and network to contribute to this journeyArne NabsethDuring 2023, the company managed to achieve a revenue growth of approximately 30%, which was entirely organic. Assuming that the “old” WPTG grows by 20% and that Ayima is consolidated by mid-year, our revenue forecast for 2024 would increase to 354 million SEK. These forecasts would, in turn, result in an operating profit of 41.1 million SEK, representing an improvement of over 20% compared to 2023. Based on our new forecasts, our valuation calculation gives a market value of 385 million SEK or 14 SEK per share, which should be compared to the current share price of 6 SEK. However, we are fully aware that such a valuation requires several additional reports confirming the company’s development trajectory and that the knowledge about the company increases. TradeVenues Senior Analyst Claes VikbladhWPTG 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.Group CEO, Marco MarangoniOur strong organic growth is testament to the strong execution of our strategy across regions and business segments. With a robust demand environment and solid order intake, we expect rapid growth to continue next year. There are many strong levers that we have that will continue to leverage into the future so the market can expect such performances into the future.WPTG’s CEO Marco MarangoniThrough optimisation initiatives around utilisation and global resourcing, we not only managed inflationary pressures but also improved profit margins. Our operational rigour coupled with our constant quest to challenge and improve our efficiency, positions us for continued profit enhancementCOO, WPTG, Ashley de KlerkBy integrating Ataraxy Digital’s expertise, we expand our mobility, AI, ML and IoT competencies portfolio for accelerated value realization for clients. Their specialised automation advancements will enable our teams to unlock next-generation process efficiency, insight discovery and experience enhancements by leveraging tailored augmentation capabilities seamlessly. This timely boost to our platforms and skills stack opens new markets providing wider competitive differentiation.Marco Marangoni, CEO of White Pearl Technology GroupAtaraxy is a user-centric digital product agency that helps industry-leading brands craft digital products stimulating progress. We are very excited about the new business opportunities and the strength we gain by partnering up with WPTG and look forward to our joint journey. Federico Imparatta and Martín Alcalde, founders of Ataraxy DigitalOur GDC´s are built on sustainable value creation with round-the-clock access for our clients and set to make a positive community impact wherever we operate.CEO of WPTG, Marco MarangoniOur well-designed business model continues driving increasing revenues paired with improving margins. Diligent cost optimization efforts combined with strategic investments to accelerate growth are key factors underpinning our success.Marco Marangoni, Group CEO, White Pearl Technology GroupBeing selected as a key partner by the City of Tshwane demonstrates our commitment to enabling public sector organizations to optimize their system performance through IT experts and knowledge transferMarco Marangoni, Global CEO of WPTGWPTG offers a unique exposure to the digital transformation in a number of important developing countries. WTPG has shown an impressive record on these markets both in terms of sales as well as profitability. Through its diversification the operating trend has been remarkably steady. WPTG is quoted on the First North marketplace since 2023 but has so far received no greater attention. I believe that the company will receive a lot more attention and a higher valuation once the current expansion continues.TradeVenues Senior Analyst Claes Vikbladh"We are proud to have been the long-term partner enabling digital innovation and operational excellence for these prestigious Ethiopian organizations. Our localization and industry expertise combined with change management rigour have been pivotal to the program’s success.“Marco Marangoni, CEO of WPTG.With a solid order book and pipeline, we are confident in delivering continued strong performance in the second half of the financial year. Moreover, WPTG’s proven diversified business model serves as the bedrock of our growth strategy to secure more business in mature markets. The listing at First North Growth Market marked the initial step in this ambitious journey,Marco Marangoni, CEO of White Pearl Technology GroupISSC is a wonderful business playing in the very important space of Microsoft. Its experienced management team is led by CEO Emil Henrico. A variety of IT assets allows ISSC to deliver world class service to its customers. A large part of their revenue is annuity-based, which will complement the WPTG aim for diversification of income, geography and solutions contributing the growth of White Pearl Technology Group. ISSC’s plans for expansion in Europe and the Middle East aligns with ours and there are significant synergies to unlock.Marco Marangoni, CEO, White Pearl Technology Group Fri, Sep 06, 2024 08:15 CET White Pearl Technology Group (WPTG) is introducing quarterly reports into its financial practice, starting with Q3 2024. This change aims to provide more frequent and timely information to shareholders and the investment community.Updated Financial Calendar · Q3 Report 2024: November 25th, 2024 · Q4 Report 2024: February 25th, 2025 · Annual Report 2024: April 28th, 2025 · Q1 Report 2025: May 26th, 2025 · Q2 Report 2025: August 25th, 2025You can find the updated Financial Calendar on www.whitepearltech.com"This is a natural step for White Pearl Technology Group to
Fri, Aug 30, 2024 08:00 CET The global IT-service provider White Pearl Technology Group (WPTG) reports in the Half Year Report 2024, January to June, that the Net Revenue for H1 2024 reached SEK 139.5M, marking a 19.3% increase compared to the same period last year (SEK 116.8M in H1 2023). This growth demonstrates WPTG’s ability to maintain momentum and capitalise on market opportunities. Net Profit after Tax for H1 2024 showed robust improvement, reaching SEK 17.97M, a 18.43% increase from H1 2023 (SEK 15.17M). Highlights
Wed, Jul 31, 2024 10:00 CET White Pearl Technologies Group (WPTG) today announced the decision not to pursue the acquisition of the bankrupt estate of Ayima Group AB (Ayima Group) whilst also issuing a forecast for 2024 which shows a continued trend of robust growth across the Group. The Group is expected to produce revenues of around SEK 300M in 2024 with profits in the order of SEK 35M. This represents growth of over 35% from 2023, showing the significant health of operations and scale that the business is reaching. These forecasts exclude Ayima.The company ended the negotiations with the bankruptcy administrator of
Mon, Jul 29, 2024 15:45 CET White Pearl Technology Group AB held its Annual General Meeting today, July 29th. Below is a summary of the material decisions made at the meeting. · The meeting resolved to approve the income statement and balance sheet, as well as the consolidatedincome statement and consolidated balance sheet, and to allocate the company’s loss according to the adopted balance sheet. · The meeting resolved to grant discharge from liability to the board members and the CEO. · The meeting resolved that the board shall consist of four regular board members and that an authorized auditor be
Tue, Jul 16, 2024 09:00 CET White Pearl Technology Group (WPTG) continues to show strong organic growth, with revenue increasing by 20% in the first half of 2024 (H1 2024) compared to the corresponding period in 2023. The core business has expanded and grown across all segments. Anticipated profit growth is over 12% compared to the corresponding period in 2023.The numbers posted in H1 exclude the effects of the Ayima acquisition and subsequent unilateral declaration of bankruptcy by the board of Ayima. Audit opinion and outcome of the liquidation process are currently outstanding and will be included in the H1 report
Mon, Jul 08, 2024 09:30 CET White Pearl Technology Group (WPTG) signed a Letter of Intent today to acquire 51% of the Indian AI company OneBrain in a cash and share agreement. The transaction is dependent on due diligence, which will now commence, with both parties hoping to finalize the agreement within the next month. The business is expected to produce revenue of over 4M SEK in 2024 and was pre-revenue until 2023.OneBrain has a team of twelve engineers and developers working on software that will improve productivity and efficiency in any digital work environment while reducing the use of manpower. OneBrain’s
Mon, Jul 01, 2024 08:30 CET The annual report refers to the White Pearl Technology Group AB operations during the period January 1, 2023 through december 31, 2023.White Pearl Technology Group (WPTG), organisation no. 556939-8752, is a Swedish public limited company whose shares of series B are admitted to trading on Nasdaq First North Growth Market Sweden and are traded under the ticker WPTG B with ISIN code SE0019762477, since 29 th of June 2023. White Pearl Technology Group refer to the holding company and the 28 subsidaries in 2023 (thirthy subsidairies in 2024) that are part of the company group.AGM will be
Fri, Jun 28, 2024 15:00 CET Shareholders of White Pearl Technology Group AB, reg.nr 556939-8752 (the “Company”), are hereby invited to attend the Annual General Meeting on Monday 29th of July 2024, 13.00 CEST at White Pearl Technology Group, Nybrogatan Business Center, Nybrogatan 34 in Stockholm.REGISTRATIONShareholders who wish to participate in the Annual General Meeting must: ·be included as a shareholder in the share register maintained by Euroclear Sweden AB regarding the status on 19 July 2024 and ·notify the Company of their and eventual proxies’ intention to attend the Annual General
Wed, Jun 26, 2024 14:50 CET White Pearl Technology Group has entered into an agreement with Amudova AB regarding the position as Certified Adviser and announces today the change from North Point Securities AB to Amudova AB, effective from July 1st, 2024.The information was submitted for publication, through the contact person set out below on 2024-06-26 14:50 CEST.
Tue, Jun 25, 2024 09:40 CET White Pearl Technology Group continues along its growth trajectory despite the setback of Ayima Acquisition.As White Pearl Technology Group (WPTG) approaches the end of H1 on 30 June 2024, the company today reported that operations continue growing according to forecasts with the core IT business still strong in most regions.CEO Marco Marangoni stated “We continue doing well as a business with continued growth across our regions and IT lines of business. Despite strong global geopolitical headwinds, the WPTG model remains resilient and continues delivering strong performances month
Thu, Jun 20, 2024 09:00 CET 
WPTG nominee committee proposes IT-entrepreneur and venture capitalist Arne Nabseth as a new board member. Nabseth’s experience and expertise are expected to support the company’s future expansion plans. The vote will take place at the upcoming Annual General Meeting (AGM) on July 29th.“Arne Nabseth brings deep industry knowledge from SAP business, along with extensive experience as a CFO and CEO and is currently om several listed companies board of Directors. His multifaceted background in the IT-industry, business development and finance will support our mission to grow the company group.
Mon, Jun 17, 2024 08:45 CET On Friday evening 14 June, WPTG’s subsidiary Ayima sent out a Press Release regarding the company’s voluntary liquidation application. The Press Release was not sanctioned by the board of its parent company, WTPG, and contains several inaccuracies.Subsequent to WPTG’s acquisition of Ayima in March 2024, following a review of operations, WPTG injected a loan of 3 MSEK during April 2024 to enable Ayima to meet its cash commitments. This cash requirement was known at the time of the acquisition. WPTG’s investigations in June 2024 discovered that the cash requirements in Ayima’s business had
Mon, Jun 10, 2024 08:35 CET White Pearl Technology Group AB (WPTG) postpones the publication of the Annual Report for 2023 and the Annual General Meeting (AGM) for 2024. The Financial Calendar has been updated accordingly.The Annual Report for 2023 will be published on July 5, 2024, and the AGM is rescheduled to July 29, 2024, instead of the previously communicated dates. A new Notice to the AGM will be published on the 28th of June 2024. Updated Financial Calendar 2024:Dates in 20245th of July: Annual Report 202329th of July: Annual General Meeting30th of August: H1 Report 202422nd of
Mon, Jun 10, 2024 08:30 CET The Board and Management of WPTG have resolved to further postpone the Annual General Meeting (AGM) and the release of the Annual Report 2023 due to administrative reasons. Update to Board nomination process.The group’s CEO, Marco Marangoni, comments on the situation: “- It is unfortunate that the annual report is delayed, and it is the responsibility of the management and the board to ensure that it is published on time. A series of circumstances, misinformation, and the fact that 2023 is the first year for WTPG as a public company have collectively led us to underestimate the time
Wed, Jun 05, 2024 17:19 CET White Pearl Technology Group AB (WPTG) postpones the publication of the Annual Report for the Financial Year 2023 and adjusts its Financial Calender. More time was needed for translation to Swedish from English. The Annual Report for 2023 to be published on Friday, 7th of June 2024. Updated Financial Calendar 2024:Dates in 20247th of June: Annual Report 202320th of June: Annual General Meeting30th of August: H1 Report 202422nd of November: Quarterly Financial Update (not a report) 28th of February: Year End Report The full updated calendar is available on
Tue, Jun 04, 2024 17:40 CET White Pearl Technology Group (“White Pearl” or the “Company”) hereby announces that North Point Securities AB (“North Point” or “the CA”) has terminated the contract as Certified Adviser towards the Company.North Point Securities has per May 23, 2024, terminated the contract as Certified Adviser. The notice period is 6 months. Swedish North Point Securities AB will continue to act as Certified Adviser for the Company until November 23, 2024. Until then, the Company will look for the role regarding the position as Certified Adviser.- We are thanking North Point Secruties for a good co-
Fri, May 31, 2024 17:40 CET White Pearl Technology Group AB (WPTG) postpones the publication of the Annual Report for the Financial Year 2023 and adjusts its Financial Calender.The Annual Report for 2023 to be published on Tuesday, 4th of June 2024. Updated Financial Calendar 2024:Dates in 20244th of June: Annual Report 202320th of June: Annual General Meeting31st of May: Quartley Financial update (not a report)30th of August: H1 Report 202422nd of November: Quarterly Financial Update (not a report) The full updated calendar is available on WPTG’s website: www.whitepearltech.com
Mon, May 20, 2024 13:30 CET Shareholders of White Pearl Technology Group AB, reg.nr 556939-8752 (the “Company”), are hereby invited to attend the Annual General Meeting on Thursday 20 June 2024, 9.00 CEST at Born Advokaters offices, Strandvägen 7A, 102 45 Stockholm.REGISTRATIONShareholders who wish to participate in the Annual General Meeting must: · be included as a shareholder in the share register maintained by Euroclear Sweden AB regarding the status on 12 June 2024 and · notify the Company of their and eventual proxies’ intention to attend the Annual General Meeting on Tuesday 18 June 2024 at
Wed, Apr 24, 2024 09:20 CET Further to the new business announcement of 19 April, White Pearl Technology Group (WPTG) today announces yet another substantial new business win from its Digital Innovation division.This morning, a contract was signed for Digital Services to be provided to one of the largest banking and finance companies in the world, based out of San Francisco. The contract relates to marketing and technical support for the online banking division and commences immediately. The contract value over the 12-month term is approximately 9.2 MSEK, but the contract automatically renews for successive 12-month
Mon, Apr 22, 2024 08:30 CET White Pearl Technology Group (WPTG) today announced it had signed a new contract from its Digital Innovation Division. The contract is for digital marketing services for Essilor Luxottica, the global eyewear giant – owner of Raybans, Oakley, Lenscrafters and Sunglass Hut amongst dozens of others.The contract is worth USD1.2M (13.1MSEK) per year and commences immediately.Group CEO Marco Marangoni commented “This is a brilliant contract win for a global leader in its field, and adds to the growth momentum of the company group, following the major new business announcement earlier this
Mon, Apr 15, 2024 08:30 CET +——————–+—————————+———————–+—–+|WPTG (SEK) |Q1 2024 |Q1 2023 |% YoY|+——————–+—————————+———————–+—–+|Total Revenue | 83,756,604 | 54,165,840 |54.6%|+——————–+—————————+———————–+—–+|Gross Profit | 31,578,990 | 17,562,483 |79.8%|+——————–+—————————+———————–+—–+|EBITDA |
Fri, Apr 12, 2024 12:47 CET White Pearl Technology Group (WPTG) yesterday announced that it had closed the Public offer for Ayima with an 87.48% ownership stake, ending a successful public takeover and making Ayima group the latest addition to the WPTG family. Ayima’s financials will be consolidated into the group from the date the offer document was published and accepted by the majority of owners, being February 26, 2024. Following consolidation there is expected to be a limited effect on WPTG’s Q1 results, but the full effect will be seen during Q2.Under the rules governing public takeovers in Sweden, it is not
Fri, Apr 12, 2024 11:08 CET White Pearl Technology Group AB (WPTG) postpones the publication of the Annual Report for 2023 and the Annual General Meeting (AGM) for 2024. The Financial Calendar has been updated accordingly. The Annual Report for 2023 will be published on May 30th, 2024, rather than the previously scheduled date of April 22nd, 2024. Similarly, the AGM is rescheduled to take place on June 20th, 2024, instead of the initially communicated date of May 13th, 2024.Updated Financial Calendar 2024:Dates in 202415th of April: Quarterly Financial Update (not a report)30th of May: Annual
