Interim Report for 2nd quarter 2021: Solid result – execution of the Focus23 strategy progresses as planned
Columbus delivered a satisfactory result for the second quarter with progress across the business which has led to an increased focus on recruiting new talent to keep up with demand. The execution of the Focus23 strategy is progressing as planned including the implementation of a new customer-focused organization model.
The revenue increased by 6% in Q2 2021 to DKK 426m and compensated for the decrease in revenue in the first quarter. In the first half of 2021, revenue was DKK 847m which is on par with last year (H1 2020: DKK 859m). The increase in revenue is due to high demand in all markets where especially the business areas Digital Commerce, Data & Analytics and Customer Experience delivered strong growth. Columbus’ Norwegian business unit has also delivered a strong quarter.
EBITDA increased by 12% in Q2 2021 to DKK 31m, which is due to a higher utilization in the consultancy business which increased from 55% to 59%. As a result of the positive market development, Columbus is in the process of recruiting new employees for all areas of the business.
The execution of the Focus23 strategy is proceeding according to plan with reorganization of the company into global Business Units and local Market Units. The new structure entails an increased focus on customers and a simplified operation with faster decision-making.
“We are satisfied with the result for Q2 and the first 6 months overall. Columbus has reached the first milestones in executing the Focus23 strategy, comprising the re-organization of the company in a new customer focused matrix structure. It is time to unleash the full potential of our skilled employees, relevant end-to-end solutions and the increasing demand for digitalization services”, says CEO and President Søren Krogh Knudsen.
Performance highlights for Q2 2021:
- Revenue increased by 6% in Q2 2021 to DKK 426m (Q2 2020: 402m)
- EBITDA increased by 12% in Q2 2021 to DKK 31m (Q2 2020: DKK 28m)
- Profit before tax increased by 14% to DKK 13m (Q2 2020: 12m)
- Customer hours increased from 55% to 59%
- Extraordinary dividend pay-out of DKK 6 per share, amounting to DKK 776m in total.
Outlook for 2021
Columbus maintains outlook for 2021:
- Revenue is expected to be in the range of DKK 1,650m and DKK 1,800m.
- EBITDA is expected to be in the range of DKK 125m and DKK 150m.
About Columbus Global
Columbus is a global digital consultancy headquartered in Ballerup, Denmark. Our mission is to help ambitious companies transform, maximize, and futureproof their business digitally. Columbus employs more than 1,800 digital advisors focused on the retail & distribution, food and manufacturing industries. We offer end-to-end digital solutions like cloud, digital commerce, data & analytics and application management that help our customers run a sustainable. Columbus has offices and partners all over the world and we can deliver our solutions and services locally – on a global scale.
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Latest releases from Columbus Global
Welcome to Søren Krogh Knudsen7.6.2021 16:04:21 CEST | Press release
Today, we welcome our new CEO & President Søren Krogh Knudsen to Columbus.
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Columbus has come off to a strong start of the year with EBITDA growth of 40% and an improved EBITDA margin of 13%. Columbus maintains the expectations for 2021.
Søren Krogh Knudsen appointed new CEO of Columbus23.4.2021 09:11:42 CEST | Pressemeddelelse
Søren Krogh Knudsen will take up the position as President & CEO of Columbus. Søren joins from a position as Partner and Regional Head of PA Consulting Group in the Nordics as well as Global Head of Sales for PA Consulting Group. He is an experienced international leader within the management consultancy industry and has a very strong track record.
Columbus divests subsidiaries in Estonia and Lithuania to further focus the business30.3.2021 11:03:41 CEST | Press release
Columbus has divested the subsidiaries in Estonia and Lithuania. The divestment is part of Columbus’ Focus23 strategy to strengthen Columbus’ focus on larger companies in key markets.
Annual Report 2020: Satisfying result in a challenging year16.3.2021 09:49:11 CET | Pressemeddelelse
Today, Columbus has published the annual report for 2020 - a year where the company demonstrated the ability to act in the changing market conditions. Revenue decreased by 6% but with a rapid adjustment of the cost base, its was possible to increase normalized EBITDA margin to 7.3%. 2020 was also the year, where we launched our new growth strategy, Focus23. The new strategy focuses on digital advisory of larger customers in key markets and consequently it was decided to divest the software company To-Increase and the Private Cloud business.
Columbus is awarded Global Partner 2020 of the Year by Medius15.3.2021 13:45:03 CET | Nyhed
Columbus has been named Global Partner 2020 of the Year by Medius, thanks to strong sales and satisfied customers.
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