WPTG: Strong Q3 2024 Performance with Revenue Growth of 38%

White Pearl Technology Group AB (Nasdaq First North: WPTG), a leading global provider of digital transformation solutions, today announced its financial results for the third quarter ended September 30, 2024.

Q3 2024 Financial Highlights:
Revenue increased 38% year-over-year to SEK 86.47M
EBITDA of SEK 15.78M, up 83.7% from Q3 2023
⁠EBITDA margin improved to 18.3% (13.7% in Q3 2023)
Cash position strengthened to SEK 14.4M, up 28.6% from December 2023
Year-to-date revenue of SEK 225.94M, up 25.7%

"Our third quarter results demonstrate the robust momentum in our core business, with revenue growing 38% and EBITDA increasing by 83.7% compared to last year," said Marco Marangoni, CEO of WPTG. "The significant improvement in our EBITDA margin to 18.3% reflects our operational efficiency and the scalability of our business model."

Strategic Developments:
⁠Successful expansion in the data centre market
Strong performance in Africa and Middle East regions
⁠New contract wins totalling over USD 4.2M
Enhanced delivery capabilities across 30+ countries
Strategic entry into Latin American markets

The company recorded a one-off, non-cash impairment related to the Ayima investment in Q3 2024. This prudent financial decision has no impact on operations or future growth prospects.

Financial Position:
⁠Current assets increased 24.5% to SEK 121.5M
Improved equity ratio of 56.6%
Strong operating cash flow of SEK 7.7M year-to-date
Healthy order book supporting continued growth

For the complete financial report and additional information, please visit our investor relations website at https://whitepearltech.com/wp-content/uploads/2024/11/WPTG-Q3-report-11.11.2024.pdf.

About WPTG:
White Pearl Technology Group AB, listed on Nasdaq First North Growth Market, is a global technology company delivering digital transformation solutions across 30+ countries through 28 subsidiaries. With over 650 professionals, WPTG provides comprehensive technology services, including cloud, cybersecurity, AI/ML solutions, and IoT analytics.

Contact: 
IR Manager
ir@whitepearltech.com
+46 707 340 804

Marco Marangoni CEO
marco.marangoni@whitepearltech.com
+598 93 370 044

Certified Adviser: Amudova AB
Email: info@amudova.se
Phone: +46 8 546 017 58

This information is such that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 08:00 CET on 11 November 2024.