White Pearl Technology Group AB Unveils Five-Year Strategic Growth Plan

The Board of Directors has today approved White Pearl Technology Group AB’s (WPTG) strategic growth plan for the next five years.

Key Points:

• WPTG targets estimated annual revenue growth of 20-25% over the next five years.

• 2023 performance: Revenue increased by 31% to SEK 239.6 million, and EBITDA margin improved to 14.1%.

• Expansion plans include strengthening presence in existing markets and entering new ones, particularly in North America and the Nordics.

• Focus on enhancing proprietary solutions, AI and machine learning innovation, and strategic acquisitions.

Marco Marangoni, CEO of WPTG, commented on the company's vision: "Our 2023 results demonstrate the strength of our business model and the growing demand for our services. Looking ahead, we're focused on leveraging our diverse portfolio and emerging market expertise to drive sustainable growth and innovation. WPTG's significant growth trajectory is fuelled by the great people we have across companies in the group."

Estimated Growth Targets (in SEK millions):

Notes: These figures are forecasts and include envisaged acquisitions. They exclude depreciation, interest, taxes and write-offs. The basis for preparation is the company's current financial position, market conditions, and anticipated future developments.

The Ayima write-off, relating to the recent acquisition, is expected to be a one-time, non-cash charge of approximately SEK 20M that will be accounted for in the Q3 2024 financials. This is in line with our previous communication around Ayima.

Strategic Growth Pillars:

1. Global Delivery Network Expansion: WPTG plans to strengthen its presence in existing markets while strategically entering new ones. The company will focus on enhancing its delivery capabilities in Africa, the Middle East, and South America while also expanding into Europe and North America.
2. Proprietary Solutions & IP Enhancement: Significant investment in research and development is planned to enhance WPTG's proprietary technologies. This includes further development of solutions like Office Tech Tools tailored for diverse market needs.
3. AI & Machine Learning Innovation: WPTG will intensify its focus on AI and machine learning technologies, integrating these into existing services and developing new AI-driven solutions. This initiative aims to improve operational efficiency and create innovative products for clients.
4. Business Process Outsourcing: WPTG will expand its BPO offerings in Africa and Latin America, focusing on document management systems (DMS), HR, accounting, and other key business processes.
5. Strategic Acquisitions: The company will pursue strategic acquisitions to complement organic growth, focusing on companies that bring complementary technologies, expand market reach, or enhance service offerings.

Service Portfolio Enhancement:

WPTG continues to evolve its comprehensive service offering across ICT Services, System Integration, Hardware Solutions, Business Software, and Digital Innovation.

North American Expansion:

A key focus of WPTG's growth strategy is its expansion into North America.

Ashley de Klerk, COO of WPTG, commented, "North America represents a crucial next step in our global growth strategy. We're bringing our unique blend of emerging market agility and cutting-edge solutions to address the evolving needs of North American businesses."

"Our acquisition strategy aligns with our commitment to the market. We will expand in the Nordics, North America, and Latin America while complementing our current operations in the Middle East, Africa, and India," added Vikas Gupta, Chief Investment Officer.

Chetan Ottam, Group CFO, concluded, "Our five-year plan is not just about growth in numbers. It's about creating sustainable value for our clients, our employees, and our shareholders. We're committed to driving digital transformation responsibly and setting new standards in the tech industry."

This press release contains forward-looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology, such as "believe", "expect", "anticipate", "intend", "plan", "estimate", "project", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and investments. All statements other than statements of historical facts included in this document are forward-looking statements. The Company undertakes no obligation to update these forward-looking statements.

This information is regulated information that White Pearl Technology Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out below at 08:00 CET on 23 September 2024.

For more information, please contact:

Investor Relations Manager

White Pearl Technology Group AB

Email: ir@whitepearltech.com

Phone: +46 707 340804

The company’s Certified Adviser is Amudova AB, email: info@amudova.se.

About White Pearl Technology Group AB:

White Pearl Technology Group AB (WPTG) is a global technology company specialising in digital transformation solutions. With a presence in over 30 countries and a team of more than 650 experts, WPTG helps organisations navigate the complexities of the digital age, offering services ranging from ICT and system integration to business software and digital innovation.