Interim Report for 3rd quarter 2021: Columbus delivers 11% revenue growth
Columbus delivers a quarter with satisfactory revenue growth of 11% and progress in most business areas. EBITDA is impacted by large investments in the recruitment of 171 new employees, new ERP platform and external consulting costs.
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.
About Columbus Global
Columbus is a global IT services and consulting company specialized in digital transformation. Our more than 1,500 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 scale
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
Michaël Navon new global leader for the Strategy & Change Business Line5.7.2022 09:25:19 CEST | Press release
Columbus has appointed Michaël Navon as Business Line Executive for the strategic business area Strategy & Change, where he will lead the development and growth of digital and strategic advisory for customers.
Brian Iversen new CFO in Columbus and an important part of Columbus’ strategic transformation4.7.2022 14:34:19 CEST | Press release
Brian Iversen will take up the position as Chief Financial Officer (CFO) and member of the Executive Board in Columbus, joining Columbus 1 October. Brian Iversen joins from a position as Vice President of Group Finance in GN Store Nord where he has played a key role in transforming and optimizing GN Store Nord financial processes globally. Brian will succeed Hans Henrik Thrane, who will leave Columbus 31 August.
Columbus appoints Claes Reinholdt Kongsdam as Market Director for the Danish Market Unit17.6.2022 10:23:43 CEST | Press release
Columbus has appointed Claes Reinholdt Kongsdam as Market Director for the Danish Market Unit. Claes Reinholdt Kongsdam will lead Columbus’ growth strategy in Denmark with focus on delivering value to customers and strengthening its market position within digital advisory.
New analysis of Columbus' financial result for Q1 2022 published by Aktieinfo20.5.2022 11:37:43 CEST | Press release
The analyst company Aktieinfo has just published the latest analysis of Columbus' financial statements for Q1 2022
Columbus Q1 2022: On track delivering 7% revenue growth10.5.2022 09:25:05 CEST | Press release
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
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