Columbus Interim Report Q3 2025
Company announcement no. 30/2025
Strengthening efficiency – focusing on renewed growth
The third quarter of 2025 reflected continued market caution, particularly in the Nordics, where customer decision-making remained cautious. Revenue declined by 7% in Q3 2025, and adjusted EBITDA amounted to DKK 24m, corresponding to a margin of 6.9%. We maintain the full-year outlook last updated in July 2025, supported by signs of improving customer activity and a solid pipeline.
“We are navigating a challenging market with discipline and focus. The organizational changes made in Q3 are already strengthening our foundation and positioning Columbus for renewed growth as market activity improves,” says CEO & President, Søren Krogh Knudsen
Q3 2025 highlights
- Revenue declined by 7%, amounting to DKK 347m. Adjusted for currency effect, the decline was 6%.
- EBITDA amounted to DKK 16m, compared to DKK 29m in Q3 2024. When adjusted for other operating income and expenses, Q3 2025 amounted to DKK 24m.
- The EBITDA margin was 4.5%, compared to 7.9% in Q3 2024. Adjusted for other operating income and expenses, the Q3 2025 EBITDA margin came in at 6.9%.
- Efficiency of 58% in Q3 2025, compared to 60% in Q3 2024, and significantly below expectations for the quarter.
- Cash flow from operating activities was DKK 7m compared to DKK 57m in Q3 2024.
YTD 2025 highlights
- Revenue declined by 4%, amounting to DKK 1,191m. Adjusted for currency effects, the revenue decline was 5%.
- EBITDA amounted to DKK 78m compared to DKK 115m YTD 2024. When adjusted for other operating income and expenses, EBITDA amounted to DKK 89m compared to DKK 87m YTD 2024.
- EBITDA margin was 7.4% compared to 7.0% YTD 2024, when adjusted for other operating income and expenses.
- Efficiency of 61% YTD 2025 compared to 62% YTD 2024.
- Cash flow from operating activities was DKK 42m compared to DKK 96m YTD 2024.
| Service revenue split on Business Lines | ||||||
| DKK ´000 | Q3 2025 | Q3 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
| Dynamics 365 | 195,969 | 222,062 | -12% | 682,758 | 735,218 | -7% |
| M3 | 71,672 | 66,377 | 8% | 240,258 | 241,386 | 0% |
| Digital Commerce | 37,867 | 38,925 | -3% | 132,026 | 137,412 | -4% |
| Data & AI | 18,867 | 22,254 | -15% | 64,868 | 63,066 | 3% |
| Other Local Business | 4,769 | 5,539 | -14% | 15,513 | 17,274 | -10% |
| Total sale of services | 329,144 | 355,157 | -7% | 1,135,423 | 1,194,356 | -5% |
| Total sale of products | 18,000 | 16,271 | 11% | 55,563 | 48,210 | 15% |
| Total net revenue | 347,144 | 371,428 | -7% | 1,190,986 | 1,242,566 | -4% |
| Service revenue split on Market Units | ||||||
| DKK ´000 | Q3 2025 | Q3 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
| Sweden | 99,235 | 100,221 | -1% | 364,469 | 382,015 | -5% |
| Denmark | 80,892 | 92,698 | -13% | 277,325 | 307,930 | -10% |
| UK | 77,519 | 83,184 | -7% | 245,203 | 236,178 | 4% |
| Norway | 38,930 | 46,630 | -17% | 142,418 | 173,359 | -18% |
| US | 22,239 | 21,204 | 5% | 77,946 | 61,001 | 28% |
| Other | 10,006 | 10,256 | -2% | 27,228 | 30,504 | -11% |
| GDC | 323 | 964 | -66% | 834 | 3,369 | -75% |
| Total sale of services | 329,144 | 355,157 | -7% | 1,135,423 | 1,194,356 | -5% |
| Total sale of products | 18,000 | 16,271 | 11% | 55,563 | 48,210 | 15% |
| Total net revenue | 347,144 | 371,428 | -7% | 1,190,986 | 1,242,566 | -4% |
Outlook for 2025
We maintain the full-year outlook last updated on 16 July 2025 (Company Announcement no. 11/2025), supported by progress in key initiatives, signs of improved customer activity and a solid pipeline:
- Revenue is expected to be in line with 2024, i.e. in the level of 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 6 November 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:
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:
Live presentation on 7 November 2025
HC Andersen Capital will host a live presentation of Q3 2025 results on 7 November 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:
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, |
About Columbus
Columbus is an international consultancy headquartered in Denmark with more than 1,500 employees and 1,100 customers worldwide. Columbus delivers digital solutions supporting business-critical processes across industries such as Manufacturing, Retail, Food & Beverage, and Life Science. Services include Cloud Services, Data & AI, ERP, CRM, Digital Commerce, and Cybersecurity. Columbus has a local presence in the Nordics, the United Kingdom, and the United States – and global delivery – and is positioned to drive digital transformation and enable scalable growth.
Attachment
