Wirtek yesterday published its third-quarter report, in which the company maintained its guidance for the financial year.
In the third quarter, Wirtek achieved revenue of DKK 15.2 million with EBITDA of DKK 0.5 million. For the first three quarters of the year, revenue amounts to DKK 46.6 million with EBITDA of DKK 2.3 million, corresponding to a 2.2% decline in revenue but an improvement of DKK 2.5 million in EBITDA.
The result reflects the company's focus on moving from hourly-based services to projects and recurring revenue. The company is therefore currently accepting lower revenue during this transition in order to lift earnings in the longer term. Fixed-price work still makes up a small share of the company's services business, which is by far its largest business area, but in a fixed-price project the customer has certainty about costs, and both parties can benefit from Wirtek's engineers using AI to deliver more efficiently.
In the third quarter, Wirtek completed the acquisition of DitaExchange, which gives the company's Solutions division an established subscription-based software product with recurring revenue. In 2025, DitaExchange grew its recurring revenue by 22% to approximately DKK 2.9 million while also having 0% customer churn. The acquisition was paid in cash through a combination of a fixed payment and a multi-year earn-out.
For the year, Wirtek maintains its guidance of revenue of DKK 65-70 million with EBITDA of DKK 3-6 million. This corresponds to expected revenue growth of 1-9% and an EBITDA improvement of 76-253%. A number of projects are planned for the fourth quarter, and as these move into the delivery phase, EBITDA is expected to improve significantly compared with the third quarter.