Company announcement no. 17/2025
Market caution reflected in Q2 results
Columbus experienced increased macro-economic headwinds in Q2 2025, leading to prolonged sales cycles and postponed IT project decisions. As a result, revenue decreased by 4% and EBITDA amounted to DKK 16m in Q2 2025, corresponding to an EBITDA margin of 4%, compared to 7% in Q2 2024. Despite the decline in revenue, we maintain a stable operational business with positive cashflow from operating activities, up 15% compared with Q2 2024. The outlook for 2025 has been adjusted to reflect current market conditions.
“While the current market conditions require us to adjust our short-term expectations, we remain confident in Columbus’ long-term growth potential and continue to execute our New Heights strategy with discipline and focus,” says CEO & President, Søren Krogh Knudsen
Q2 2025 highlights
- Revenue declined by 4%, amounting to DKK 410m. Adjusted for currency effect, the decline was 6%.
- EBITDA amounted to DKK 16m, compared to DKK 30m in Q2 2024. When adjusted for other operating income and expenses, Q2 2024 ended at DKK 22m.
- EBITDA margin was 4.0%, compared to 7.0% in Q2 2024. When adjusted for other operating income and expenses, Q2 2024 ended at 5.2%.
- Efficiency of 63% in Q2 2025, same level as Q2 2024, but below expectations.
- Solid cash flow achieved with DKK 18m from operating activities compared with DKK 16m in Q2 2024.
YTD 2025 highlights
- Revenue declined by 3%, amounting to DKK 844m. Adjusted for currency effects, the revenue decline was 4%.
- EBITDA amounted to DKK 63m compared to DKK 65m in H1 2024, when adjusted for the M3CS legal case.
- EBITDA margin was 7.4% compared to 7.5% in H1 2024, when adjusted for the M3CS legal case.
- Efficiency of 62% in H1 2025 compared to 63% in H1 2024.
- Cash flow from operating activities was DKK 35m compared to DKK 39m in H1 2024.
| Service revenue split on Business Lines | ||||||
| DKK ´000 | Q2 2025 | Q2 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
| Dynamics | 233,733 | 255,727 | -9% | 486,792 | 513,160 | -5% |
| M3 | 83,771 | 81,935 | 2% | 168,585 | 175,009 | -4% |
| Digital Commerce | 46,917 | 45,108 | 4% | 94,159 | 98,485 | -4% |
| Data & AI | 22,051 | 22,105 | 0% | 46,001 | 40,812 | 13% |
| Other Local Business | 5,786 | 5,486 | 5% | 10,744 | 11,735 | -8% |
| Total sale of services | 392,258 | 410,361 | -4% | 806,281 | 839,201 | -4% |
| Total sale of products | 17,629 | 16,538 | 7% | 37,561 | 31,937 | 18% |
| Total net revenue | 409,887 | 426,899 | -4% | 843,842 | 871,138 | -3% |
| Service revenue split on Market Units | ||||||
| DKK ´000 | Q2 2025 | Q2 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
| Sweden | 134,291 | 133,849 | 0% | 265,234 | 281,795 | -6% |
| Denmark | 94,116 | 106,917 | -12% | 196,434 | 215,234 | -9% |
| UK | 79,314 | 77,461 | 2% | 167,683 | 152,994 | 10% |
| Norway | 49,271 | 60,613 | -19% | 103,488 | 126,728 | -18% |
| US | 26,371 | 20,242 | 30% | 55,707 | 39,797 | 40% |
| Other | 8,647 | 10,144 | -15% | 17,222 | 20,248 | -15% |
| GDC | 248 | 1,135 | -78% | 513 | 2,405 | -79% |
| Total sale of services | 392,258 | 410,361 | -4% | 806,281 | 839,201 | -4% |
| Total sale of products | 17,629 | 16,538 | 7% | 37,561 | 31,937 | 18% |
| Total net revenue | 409,887 | 426,899 | -4% | 843,842 | 871,138 | -3% |
Outlook for 2025
Following H1 2025 developments, we revised our full-year outlook on 16 July 2025 (Company release no. 11/2025) due to ongoing macroeconomic challenges affecting customer decisions:
- Revenue is expected to be in line with 2024, i.e. approximately DKK 1.7bn.
- EBITDA margin is expected to be in the range of 7-9%.
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 21 August 2025 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and CFO Brian Iversen.
Webcast:
Please log in to the webcast via Columbus’ investor site where you can follow the presentation and submit your written questions during the call: https://ir.columbusglobal.com/calendar-and-events
Conference call:
- Participants are required to register in advance of the conference using the link provided below. Upon registering, each participant will be provided with Participant Dial In Numbers, and a unique Personal PIN.
- In the 10 minutes prior to call start time, Participants will need to use the conference access information provided in the e-mail received at the point of registering. Participants may also use the call me feature instead of dialling the nearest dial in number.
Online Registration to the call: https://register-conf.media-server.com/register/BI7ec5476b002b4fb5aafc615c22a635c8
Live presentation on 25 August 2025
HC Andersen Capital will host a live presentation of Q2 2025 results on 25 August 2025 at 11:00 CET. Presenters from Columbus A/S will be CEO & President Søren Krogh Knudsen and CFO Brian Iversen.
You can already now submit questions and sign up for the event via this link: https://www.inderes.dk/videos/columbus-presentation-of-interim-report-q2-2025
A recording of the presentation will be available via the same link.
Ib Kunøe Søren Krogh Knudsen
Chairman of the Board CEO & President
For further information, please contact: CEO & President, Søren Krogh Knudsen, +45 70 20 50 00
About Columbus
Columbus is a consultancy company helping organisations drive business value by defining, executing, and evolving their entire business. We deliver digital value through human intelligence, enabling our customers to innovate and grow. Our more than 1,500 digital explorers guide our customers through their digital transformation, delivering lasting value in Manufacturing, Retail & Distribution, Food & Beverage, and Life Science.
We advise, implement and manage business critical solutions within Cloud Services, Data & AI, Sales, Marketing, Customer & Field Service, Digital Commerce, Managed Services, Business Process Automation & Apps, Finance & Supply Chain, Enterprise Information Management, Cybersecurity and Transformation Strategy. Headquartered in Denmark, we have offices and partners worldwide – delivering locally on a global scale.
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