Brief: Wirtek Completes Acquisition And Raises Outlook For 2021

Wirtek A/S

29/04/2021 13:17

April 29 (Reuters) - Wirtek A/S  WIRTEK.CO :
    * REG-WIRTEK COMPLETES ACQUISITION AND RAISES OUTLOOK FOR
2021
    * REG-WIRTEK COMPLETES ACQUISITION AND RAISES OUTLOOK FOR
2021
    * BOARD OF DIRECTORS EXPECT ACQUISITION WILL FURTHER SUPPORT
COMBINED CLIENT BASE, GIVING CLIENTS ACCESS TO A LARGER AND
GROWING NUMBER OF HIGHLY SKILLED IT-PROFESSIONALS, WHILE AT SAME
TIME GIVING EXISTING AND NEW COLLEAGUES LARGER POSSIBILITIES TO
CONTINUE TO WORK WITH EXCITING CLIENTS AND TECHNOLOGIES
    * CHANGED OUTLOOK FOR 2021: SIGNIFICANT INCREASE IN REVENUE
AND
EBITDA
    * ACQUISITION WILL FURTHER ENHANCE WIRTEK'S COMPETENCES IN
E.G.,
CLOUD AND MOBILE TECHNOLOGIES.
    * FINAL PURCHASE PRICE WILL BE BETWEEN EUR 568,000 (DKK
4.2M) AND
EUR 1,452,000 (DKK 10.8M).
    * ALTHOUGH EFFECTIVE DATE OF ACQUISITION IS 1 JUNE 2021,
ACQUISITION IS STILL EXPECTED TO HAVE A SUBSTANTIAL POSITIVE
EFFECT ON BOTH REVENUE AND EBITDA IN WIRTEK FOR FISCAL YEAR
2021.
    * 2021 EXPECTATIONS EBITDA FOR FISCAL YEAR 2021 IS EXPECTED
TO BE
IN INTERVAL OF DKK 5.0M - 5.4M (UP FROM PREVIOUSLY EXPECTED DKK
3.5M - 3.8M), A GROWTH OF 55% - 68% COMPARED TO 2020.
    * WIRTEK THEREFORE INCREASES FISCAL YEAR 2021 EXPECTATIONS
AS
FOLLOWS: * REVENUE FOR FISCAL YEAR 2021 IS EXPECTED TO BE IN
INTERVAL OF DKK 42.0M - 44.0M (UP FROM PREVIOUSLY EXPECTED DKK
31.6M - 33.2M), A GROWTH OF 52% - 59% COMPARED TO 2020.

Source text for Eikon:  ID:nGNEbzJwLl 
Further company coverage:  WIRTEK.CO 

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