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Investor Relations

Proven track record of double-digit growth in both revenue and earnings for the past 8 years.

Our equity story

Wirtek is an international IT outsourcing company that helps our clients bring their software-based
services and electronic equipment successfully to market.

Our market

The global IT outsourcing market is predicted to grow 7,7% annually and reach a value of USD 938 billion by 2027.

Revenue from clients outside Wirtek's home market Denmark is expanding rapidly and we will, as part of our Accelerate25 strategy, pursue international growth even more during the coming years with special focus on the North-Western European market.

Our core services

We create value for our clients in two main areas:

  • Helping them engineer software solutions end-to-end.
  • Providing services on existing electronic equipment from embedded and integration software development to quality assurance of the final product.

We excel in areas such as digital transformation, cloud computing, Software as a Service Solutions (SaaS) and cybersecurity.

Our business model

People is at the core of our business model. We have created an organisation of quality-minded solution finders, and we continuously invest heavily in building a best-in-class working environment to attract and retain great talent.

Our technical staff is highly skilled, with 98% having at least a bachelor’s degree.

Our clients

Wirtek's client base is very broad, ranging from small IT startup companies to very large international companies. 

One common denominator for our client base is that they get top-notch technical solutions and a committed team that works with them as if it were their own.

We establish valuable long-term partnerships with our clients, and several of them have been with us for more than 10 years.

Our Strategy

As part of Wirtek’s Accelerate25 strategy, we will boost our profitable growth with a combination of double-digit organic growth and acquisitions.

The target is an average annual revenue growth of 30% during 2021 – 2025.

Our ability to create positive cash flow from operations allows Wirtek to both invest in future growth as well as pay dividend to our shareholders.

An investment in Wirtek is an investment in profitable growth.

Our track record

We have a proven track record of double-digit profitable growth based on a very strong foundation of recurring revenue from our loyal clients.

Wirtek operates in a huge, growing international market for outsourcing of IT services, and for the past 10 years Wirtek’s growth has been significantly above market growth.

Wirtek stays competitive and we grow EBITDA faster than revenue due to our continuous focus on operational efficiency.

Our Accelerate25 strategy

Accelerated profitable growth of average 30% annually

Soundly based on Wirtek's strategic foundation of profitable growth, our financial and operational goals by fiscal year 2025 are:

Read about our strategy

Financial Goals

DKK 100m

annual revenue by FY 2025

DKK 10m

pre-tax earnings by FY 2025

>6%

EBITDA margin each year

Operational Goals

1 sourcing location

outside Romania by 2025

>90%

employee retention rate from 2023

Outlook for this year

After a successful acquisition during H1 2021, Wirtek has increasing expectations twice this year. This table shows the development in expectations for 2021.

Latest announcement of expectations

Development in 2021 expectations

MDKK
4 March 2021
29 April 2021
5 August 2021
Growth
Revenue
31.6 - 33.2
42.0 - 44.0
44.5 - 45.5
61 - 65%
EBITDA
3.5 - 3.8
5.0 - 5.4
5.9 - 6.3
83 - 95%

Doing business for 20 years

Wirtek's story starts 20 years ago, when our CEO Michael Aaen founded the company as a spin-off from Nokia. Since then, Wirtek has been constantly growing, building upon our Danish heritage and mission to contribute to our clients’ growth through transparent and trust-based partnerships.

2001
Michael Aaen founded the company in Aalborg, Denmark, as a spin-off from Nokia
2006
Wirtek became a public company, the 3rd to be listed on the Nasdaq Copenhagen First North Growth Market
2006
Wirtek expanded internationally by opening the first development and test center in Cluj-Napoca, Romania
2012
Wirtek began growing profitable at a double-digit rate and kept doing so every year since then
2014
Wirtek opened a second office facility in Cluj-Napoca to support the rapid growth
2017
Wirtek opened a new office in Bucharest as part of a strategic partnership with one of our clients
2018
Wirtek acquired Software Pro A/S, a Danish testing consultancy company, strengthening our expertise in this area
2020
The 4th ongoing client partnership celebrating 10 years with Wirtek
2020
Major rebranding of Wirtek, strengthening the foundation for accelerated growth
2021
Announcing Wirtek's Accelerate25 strategy focusing on four strategic tracks to reach our ambitious 2025 goals
2021
Acquisition of CoreBuild, a major milestone in the implementation of the Accelerate25 strategy