1 Aug, 2023
Comments from Marco Marangoni, CEO of White Pearl Technology Group, Regarding the Guidance of the First-Half 2023

Comments from Marco Marangoni, CEO of White Pearl Technology Group, Regarding the Guidance of the First-Half 2023

31 Aug, 2023

Executive Insights: Marco Marangoni, CEO of WPTG

In the press release, you mentioned that the company´s global presence and diversified business model have enabled effective management of inflationary pressures on wage costs in key regions such as India, as well as addressing currency challenges in growing business regions like South Africa and Egypt. Can you elaborate on how the global supply chain provides the means to manage inflation and currency challenges?

Lately we have seen a surge in wage inflation in some markets while others have experienced sharp currency movements. With our global network and acquired skills, we can identify the most efficient ways of keeping wage inflation under control and deliver orders at the most affordable prices. One example of this is our 24/7 IT-support that can be offered in all markets and delivered from any region. Some of our business happens in the Middle East which is USD pegged. In addition to this, our treasury function manages cross-currency risk efficiently.

Despite challenging market conditions, you have demonstrated impressive growth, with more to come from a strong order book and expected good earnings visibility. What are WPTG's plans for the second half of the fiscal year, and how does the management view future growth opportunities?

Digital transformation and integration are constantly fuelling demand for IT services. Companies are actively seeking ways to gain a competitive edge with highly tech-based business models. White Pearl Technology Group thrives on this wave. We continue to build sales capabilities globally and harness the resources and knowledge we have accumulated, after years in the industry.
We are poised to capitalize on our order book and to grow. The challenge is to pursue new business opportunities, as well as caring for our existing clients and maintain a high-grade of quality in our service delivery. Another synergy is that a growing clientele base provides us with exponentially more opportunities to upsell from our wide array of services.
Currently, we are accelerating our efforts in the Middle East, an attractive market with an intense focus on digital transformation and integration. Our proposal to assist in advancing technologically and optimizing businesses is highly compelling there.

At the beginning of July, WPTG announced its intention to acquire a majority stake in Independent Software Solutions Consulting Pty Ltd (ISSC), which is expected to be completed soon. Considering the strong organic figures communicated for H1-23 and the strong order intake, can we expect more company acquisitions in the near future?

Mergers and Acquisitions has been at the heart of the WPTG ethos since the beginning and has given us the ability to understand the geo-political and economic environment in different countries. Our philosophy is simple. We are searching for profitable business with financial, geographical, and operational synergies. Company leaders that share our growth objectives, as well as the value system with White Pearl Technology Group will always be attractive for us. In other words, we are on the lookout for good matches and we are committed to growing our footprint in the Nordic region, and Europe. In the long term, our strategy will result in organic as well as inorganic expansion.

TradeVenue's Analysis: A Review of the Guidance for WPTG in the First-Half of 2023

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