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Wirtek raises both revenue and EBITDA expectations for 2021

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Company Announcement no. 13/2021
This company announcement contains inside information

The Board of Directors for Wirtek A/S raises the financial expectations for the second time this year based on preliminary financial results for Q2 2021 and an updated prognosis for second half of 2021.

The integration of the CoreBuild acquisition is progressing very well. The financial results of Wirtek’s organic business for the first 6 months of 2021 combined with the financial results of the first month of CoreBuild business exceeds our expectations. Additionally, the current outlook for the combined business for second half of 2021 also exceeds our expectations.

Consequently, the Board of Directors has decided to raise the expectations for 2021:

  • The revenue expectation is raised to DKK 44.5m – 45.5m (up from previously DKK 42.0m – 44.0m), a growth of 61% - 65% compared to 2020.

  • The EBITDA expectation is raised to DKK 5.9m – 6.3m (up from previously DKK 5.0m – 5.4m), a growth of 83% - 95% compared to 2020.

Wirtek will, as planned, publish our interim financial report for Q2 2021 on 10 August 2021 where further details about the results for Q2 2021 and the outlook for second half of 2021 will be communicated.

Further information

  • Michael Aaen, CEO, Wirtek A/S, Phone: +45 2529 7575, E-mail: ir@wirtek.com
    Niels Jernes Vej 10, 9220 Aalborg Ø, www.wirtek.com

  • Kent Mousten Sørensen, Chairman, Wirtek A/S, Phone: +45 2125 9001

  • Per Vestergaard, Certified Advisor, CDI Global, Phone: +45 2176 4317

About Wirtek

Wirtek is a Danish IT outsourcing company. Since 2001, we have been teaming up with companies to help them create great software solutions and electronic equipment products.

Several clients have been with us for more than 10 years, so we can confidently say that in outsourcing, the quality of the relationship matters just as much as the quality of the delivered software. Our clients get state-of-the-art technical solutions and a committed team that works with them as if it were their own.

Wirtek has offices in Denmark (HQ + sales) and four development and test centres in Romania, and we are 180+ colleagues. Wirtek was listed at Nasdaq First North Growth Market Denmark in 2006.

Ticker Code: WIRTEK (DK0060040913)

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