White Pearl Technology Group AB: White Pearl Technology Group shows continuous growth in the Interim Report for the First Half of 2024
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).
HighlightsNet Cash Flow from operating activities was SEK 3.06M (6.27M)
Key NumbersNet Cash Flows from operating activities amounted to SEK 3.06M for the half-year. Working Capital continued to increase, primarily due to growing project revenue. Net cash improved to SEK 12.96M for the reporting period.
Key Events During the Reporting Period:WPTG acquires 50% of Uruguay-based Ataraxy Digital for $50,000 cash, with founders retaining equal shares and leadership roles; agency projected to turnover SEK 2.7-3 million in FY2024. This expands WPTG's portfolio in fast-growing Latin American markets. It also helps grow hardware manufacturing partnerships in India and China.
CEO Commentary
"In the first half of 2024, 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. Our EBITDA grew by 15.1%, reflecting our commitment to operational excellence and our ability to scale efficiently, says Group CEO of White Pearl Technology Group, Marco Marangoni. The strength of our balance sheet is evident, with cash and cash equivalents improving by 15.5% and our equity ratio reaching 60%, up from 46% at the end of 2023. This robust financial position enables us to pursue strategic opportunities and invest in our future growth. Looking ahead to the second half of 2024, we see exciting opportunities to further expand our capabilities and market presence."
Read the Interim Report for January to June 2024 as a pdf here, or at our Investor web (https://whitepearltech.com/financial-reports/)
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, on 30th of August 2024 at 8.00 CET.