Columbus Global

Columbus Q1 2022: On track delivering 7% revenue growth


Columbus realized a solid start to the year with high activity across the business and progress in the strategic business areas Data & Analytics, Customer Experience, Digital Commerce and Columbus Care. Columbus maintains expectations for 2022

”It has been an intense start to the year marked by the necessary decision to close our activities in Russia, but also a quarter with good progress in our remaining business – which has demanded investments in creating the foundation to fuel for growth.”, says CEO & President Søren Krogh Knudsen.

Important topline growth

In Q1 2022, revenue grew organically by 7% to DKK 393m compared to DKK 367m in Q1 2021. Columbus delivered good progress in all areas of the business with the majority of our Business Units delivering top-line growth.

Columbus’ Norwegian business continued their strong momentum from last year with 13% growth closely followed by Columbus Sweden growing by 10%. So did the strategic business areas Data & Analytics, Customer Experience, Digital Commerce and Columbus Care which grew by 200%, 23%, 17% and 15%, respectively. In addition, Columbus starts to see a stabilization of our US business with a growth of 5% in Q1 2022.

The scarcity of talent affects EBITDA

Columbus is like the rest of the IT industry affected by the high demand for talents which puts a pressure on salaries and causes high attrition. Despite these challenges, Columbus has been able to increase our average number Full time employees (FTE’s) by 70 in Q1 2022. This has been possible due to our employer branding activities and dedicated HR efforts.

Efficiency was 62% in Q1 2022, which is an improvement compared to 59% in Q4 2021. Many new hires, ramp up of new consultants and low utilization of our offshore center in India are affecting the efficiency and this remains a key focus for us in the coming quarters. Overall, EBITDA declined from DKK 38m to DKK 30m in Q1 2022, a decline of 23%.

Performance highlights for Q1 2022.

All numbers and comments are on the continued business (excluding the divested entities Russia, US SMB, To-Increase and Baltics):

  • Revenue increased by 7% in Q1 2022 to DKK 393m (Q1 2021: DKK 367m)+
  • EBITDA decreased to DKK 30m in Q1 2022 (Q1 2021: DKK 38m)
  • Negative effect of discontinuing Columbus Russia by DKK 25m
  • YTD efficiency 62%
  • Divestment of Columbus Russia
  • Strengthening our One Columbus culture

Outlook for 2022

Based on the financial performance in Q1 2022, current order book and pipeline, our full year guidance for 2022 will remain unchanged as follows.

  • Revenue is expected to be in the range of DKK 1,525m – 1,625m corresponding to an organic growth of 8% to 15%.
  • EBITDA is expected to be in the range of DKK 120m –145m corresponding to a growth of 34% to 62%.

Read the Q1 report here:



About Columbus Global

Columbus Global
Columbus Global
Lautrupvang 6
2750 Ballerup

About Columbus

Columbus is a global IT services and consulting company specialized in digital transformation. Our more than 1,550+ digital explorers collaborate with our customers in the manufacturing, retail & distribution, and food & process industries. We advise, implement and manage business critical solutions within Strategy & Change, Customer Experience, Digital Commerce, Data & Analytics, Application Management and Cloud ERP. Headquartered in Denmark, we have offices and partners worldwide - delivering locally on a global Columbus A/S is listed on Nasdaq Copenhagen – COLUM

Subscribe to releases from Columbus Global

Subscribe to all the latest releases from Columbus Global by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Columbus Global

New analysis of Columbus' financial results for 2021 published by Aktieinfo7.4.2022 14:50:28 CEST | Pressemeddelelse

The analyst company Aktieinfo has just published the latest analysis of Columbus' financial statements for 2021. The analysis concludes, among other things, that "We describe the financial results for 2021 as approved. It has been an eventful year with a new management, divestments, large investments, implementation of the new customer-centric strategy with digital advisory and at the same time implementation of a new global ERP platform – initiatives to increase revenue and earnings in the future". The analysis can be found here:

Columbus stands with the people of Ukraine22.3.2022 12:52:36 CET | Press release

We are deeply concerned about Russia’s invasion of Ukraine. Millions of lives are being impacted and we strongly condemn the acts of violence and aggression we are witnessing. Our overriding concern at this time is the wellbeing of our colleagues in Ukraine and their families. We have a small number of affiliated consultants in Ukraine, and we are taking every possible action to ensure their safety. We are coordinating financial, logistical, and practical help to the families who must leave the country and support those who have decided to remain. We believe it is our responsibility to help alleviate human suffering in our communities. To that end, Columbus is providing humanitarian aid through donations to UNICEF, Red Cross, Save the Children and Norwegian Refugee Council to support the critical lifesaving efforts and safety for the children and their families of Ukraine. Columbus and its employees have so far donated DKK 250,000. Many employees are engaged in local initiatives to sup

Organic growth and EBITDA margin increase in a year of transition16.3.2022 10:15:00 CET | Press release

2021 was a year of transformation for Columbus where we reached important milestones while delivering organic revenue growth of 5%. It was the first year of the Focus23 strategy where we initiated major changes to the operation to focus and simplify the business and increase operating efficiency to move into a position as trusted digital advisor”, says Chairman of the Board, Ib Kunøe. Performance highlights for 2021 The Columbus Group delivered a revenue of DKK 1,482 corresponding to a growth of 5%, mainly driven by: Top line growth in most Business Lines where Digital Commerce, Data & Analytics and Customer Experience & Engagement delivered double digit growth numbers Columbus Norway with a revenue growth of 47% Service revenue increased by 7% to DKK 1,267m Reported EBITDA grew by 8% to DKK 109m providing an EBITDA margin of 7.4%, mainly driven by: Strong development in Norway Improvement in the continuing business in the US Product revenue declined by 3.9% to DKK 215m Recurring Reven

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom