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:
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 0% – 15% in 2024 compared to 2023.
2024 expectations
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.