Interim Report for 3rd quarter 2021: Columbus delivers 11% revenue growth

The revenue increased by 11% in the third quarter to DKK 323m (Q3 2020: DKK 290m), and for the first nine months the revenue growth was 2%, corresponding to DKK 1,090m (Q3 YTD 2020: DKK 1,066m). The development in revenue is due to positive progress especially in the Swedish, Norwegian and UK markets. Columbus Denmark and US showed a decrease in revenue, which is primarily caused by a decline in the sale of software.

The service revenue increased by 12% to DKK 273m. (Q3 2020: DKK 243m), driven by all Business Lines, where especially Columbus Care (Application Management), Digital Commerce and Data & Analytics delivered great progress.

Investments in the expansion of the workforce
Operating profit (normalized EBITDA) decreased by 83% in Q3 2021 to DKK 4m. (Q3 2020: DKK 22m) and by 6% for the first nine months of the year to DKK 78m. (Q3 YTD 2020: DKK 96m). The decline is due to large investments in the recruitment and training of new employees for all areas of the business as well as extraordinary costs in connection with Columbus’ new ERP-platform and external consulting.

During the third quarter, Columbus welcomed 171 new employees. Despite a large number of new employees, customer work remained high amounting to 57% vs. 53% last year, which is a result of an intensive training program which ensures that new consultants can quickly be included in customer projects.

In connection with the Focus-23 strategy Columbus has defined 17 strategic acceleration tracks, including extensive talent and leadership development as well as commercial optimization to sustainability, which will ensure that Columbus strengthens its market position within Digital Advisory.

”We are satisfied with the revenue growth and the overall development in Q3. Columbus experiences great demand, and it’s very important that we constantly invest in the right employees and competencies. Therefore, it is also a fantastic achievement that we have been able to hire 171 new employees in a single quarter”, says Søren Krogh Knudsen, CEO & President in Columbus.