Skip to content

Investor Relations

A decade of profitable growth

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 excel in developing top-of-the-line solutions for market verticals such as energy, workforce & facility management, wireless communication & automation, and trade & e-commerce.

We create value for our clients by:
  • 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.

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 near to 100% 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 Accelerate25XL 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 have historically shown average EBITDA growth above average revenue growth due to our continuous focus on operational efficiency.

Our Accelerate25XL strategy

Revenue goal for 2025 raised by 30% 

Based on the strategic review, the long-term goals have been updated. Financial and operational goals have been raised and adjusted as follows:

Read about our strategy

Financial Goals

DKK 130m

annual revenue by 2025

DKK 15m

pre-tax earnings by 2025

DKK 18m

EBITDA by 2025

Operational Goals

1 sourcing location

outside Romania by 2025

>85%

employee retention rate from 2024

Nasdaq Main Market

listing before the end of 2025

Outlook for this year

In 2024, we still see and expect a cautious market sentiment from our clients due to continued market uncertainties. Consequently, Wirtek predicts an organic revenue growth of 5% – 11% with an EBITDA-growth of 3% - 19% in 2024 compared to 2023. 

Latest announcement of expectations

2024 expectations

MDKK
2024
2023
Growth
Announced
12 Feb
20 March
Revenue
74.0 - 78.0
70.4
5% - 11%
EBITDA
6.5 - 7.5
6.3
3% - 19%

Doing business for more than 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
2022
Announcing Wirtek's Accelerate25XL strategy with raised financial goals based on a strong financial performance in 2021
2022
Recruiting experienced CFO and initiating implementation of a new ERP system
2023
New structure on 5 core business domains: Digitalization, Trade & E-commerce, Wireless Communication & Automation, Workforce & Facility Management, and Energy
2023
Martin Dommerby and Janie C. Nielsen bring new expertise to Wirtek's Board of Directors