Annual Report 2024
Company announcement no. 2/2025
2024 financial performance: Continued growth and solid EBITDA margin
Columbus’ revenue amounted to DKK 1,659m in 2024, corresponding to an increase of 8%. Organically, revenue grew by 7%. EBITDA increased by 30% to DKK 153m.
Most of our global Business Lines have been performing well in 2024, with our largest business, Dynamics, delivering 11% growth. The M3 business is back to growth delivering 6% growth, while Data & AI is capitalizing on the emerging technological trends, delivering 15% growth. Our CXE business continues to perform, delivering 29% growth. Digital Commerce faced challenges throughout the year, particularly in our Swedish market, resulting in a decline of 8%.
Our performance in the UK and Danish markets has been strong, growing by 38% and 25%, respectively, in service revenue, reflecting our ability to capitalize on favorable market dynamics. However, economic nervousness in Sweden and Norway led to extended decision cycles and postponed projects, resulting in a 9% decline in Sweden and a 3% decline in Norway.
Overall, revenue growth of 8% and 7% adjusted for acquisitions and currency is considered satisfactory in a challenging market.
"Columbus has successfully transformed into a consultancy firm, driving growth and profitability. We are now ready to take the next step with a potential change in ownership, further accelerating our growth and success."
Chairman of the Board, Ib Kunøe
"2024 has been transformative for Columbus. Despite global uncertainties, we delivered satisfactory results, demonstrating adaptability and resilience."
CEO & President Søren Krogh Knudsen.
Performance highlights 2024
- Revenue growth of 8% amounting to DKK 1,659m
- EBITDA amounted to DKK 153m, corresponding to an increase of 30%
- Recurring revenue amounted to DKK 232m, corresponding to an increase of 13%
- Profit before tax amounted to DKK 58m, corresponding to an increase of 47%
- Efficiency ranged between 60% and 63%, with an average of 62%
Service revenue split on Business Lines
| DKK ´000 | 2024 | 2023 | ∆% |
| Dynamics | 893,968 | 804,322 | 11% |
| M3 | 320,982 | 301,472 | 6% |
| Digital Commerce | 180,550 | 195,418 | -8% |
| Data & AI | 88,482 | 77,233 | 15% |
| CXE | 86,785 | 67,248 | 29% |
| Other Local Business | 22,225 | 29,363 | -24% |
| Total sale of services | 1,592,992 | 1,475,056 | 8% |
| Total sale of products | 66,450 | 64,899 | 2% |
| Total net revenue | 1,659,442 | 1,539,955 | 8% |
Service revenue split on Market Units
| DKK ´000 | 2024 | 2023 | ∆% |
| Sweden | 507,141 | 557,072 | -9% |
| Denmark | 413,391 | 331,807 | 25% |
| Norway | 227,573 | 234,391 | -3% |
| UK | 316,975 | 229,317 | 38% |
| US | 84,126 | 82,608 | 2% |
| Other | 40,091 | 35,531 | 13% |
| GDC | 3,695 | 4,330 | -15% |
| Total sale of services | 1,592,992 | 1,475,056 | 8% |
| Total sale of products | 66,450 | 64,899 | 2% |
| Total net revenue | 1,659,442 | 1,539,955 | 8% |
Outlook for 2025
Based on the financial performance in 2024 and the current order book and pipeline forecast, we maintain our full year guidance for 2025, as announced in Company release no. 1/2025 of 17 January 2025:
| Outlook 2025 | Realized 2024 | |
| Organic revenue growth | 7-9% | 7% |
| EBITDA margin | 10-12% | 9.2% |
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 13 March 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:
1. 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.
2. 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 14 March 2025
HC Andersen Capital will host a live presentation of 2024 results on 14 March 2025 at 10:00 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.
For further information, please contact:
- Søren Krogh Knudsen, CEO & President, Tel.:
About Columbus
Columbus is a global digital consultancy specialized in solving complex challenges for customers in the manufacturing, retail & distribution, food & beverage, and life science industries. With over 1,500 digital advisors in more than ten countries, we deliver business-critical solutions in areas such as CloudERP, Data & Analytics, Application Management, Digital Commerce, Cybersecurity, AI Innovation, and ESG. With headquarters in Denmark and presence worldwide, we ensure local delivery of our services on a global scale.
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