Interim Report Q2 2023
Company announcement no. 15/2023
Progress continues in Q2
11% revenue growth in Q2 2023 including a negative impact from currencies of 5 percentage points. EBITDA result was DKK 18m corresponding to an EBITDA margin of 4.6% which is on par with last year. Our role as trusted advisor is being proof pointed by welcoming new customers in our key segments and extending engagements with our existing customers.
“We have had a busy first half of 2023 expanding our customer list with prominent names across all Business Lines, and we are glad that our revenue numbers speak for themselves solidly moving towards our financial ambition of 10% organic growth from 2023”, says CEO & President, Søren Krogh Knudsen
Q2 2023 highlights
- Revenue growth of 11% amounting to DKK 390m. 16% growth adjusted for acquisitions and currency.
- EBITDA amounted to DKK 18m.
- EBITDA margin was 4.6% compared to 4.7% in Q2 2022.
- Efficiency of 70% in Q2 2023, a 6 percentage point increase compared to Q2 2022.
- Improved cash flow from operating activities amounting to DKK 12m.
- Business Line Security introduced.
- Established AI Innovation Program.
H1 2023 highlights
- Revenue growth of 9% amounting to DKK 781m. 14% growth adjusted for acquisitions and currency.
- EBITDA growth of 24% amounting to DKK 57m.
- EBITDA margin was 7.3% compared to 6.4% in H1 2022.
- Efficiency was 69% in H1 2023.
- Acquisition of ICY Security ApS.
Service revenue split on Business Lines
| DKK ´000 | Q2 2023 | Q2 2022 | ∆% | YTD 2023 | YTD 2022 | ∆% |
| Dynamics | 191,261 | 177,230 | 7.9% | 387,640 | 358,925 | 8.0% |
| M3 | 74,717 | 77,108 | -3.1% | 155,313 | 158,711 | -2.1% |
| Digital Commerce | 50,203 | 47,032 | 6.7% | 108,883 | 92,962 | 17.1% |
| Data & Analytics | 18,719 | 14,289 | 31.0% | 38,085 | 29,633 | 28.5% |
| Customer Experience & Engagement | 15,853 | 12,538 | 26.4% | 31,455 | 24,065 | 30.7% |
| Security | 12,301 | 0 | 100.0% | 12,301 | 0 | 100.0% |
| Strategy & Change | 3,302 | 1,935 | 70.6% | 5,121 | 4,374 | 181.2% |
| Other Local Business | 4,136 | 4,261 | -2.9% | 8,572 | 8,765 | -2.2% |
| Total sale of services | 370,492 | 334,393 | 10.8% | 747,370 | 677,435 | 10.3% |
| Total sale of products | 19,980 | 16,764 | 19.2% | 33,602 | 37,539 | -10.5% |
| Total net revenue | 390,472 | 351,157 | 11.2% | 780,972 | 714,974 | 9.2% |
Service revenue split on Market Units
| DKK ´000 | Q2 2023 | Q2 2022 | ∆% | YTD 2023 | YTD 2022 | ∆% |
| Sweden | 147,730 | 141,747 | 4.2% | 293,594 | 280,845 | 4.5% |
| Denmark | 83,636 | 60,924 | 37.3% | 164,086 | 126,490 | 29.7% |
| Norway | 57,338 | 67,262 | -14.8% | 129,146 | 137,262 | -5.9% |
| UK | 54,037 | 38,079 | 41.9% | 99,743 | 78,068 | 27.8% |
| US | 19,339 | 18,302 | 5.7% | 41,359 | 38,263 | 8.1% |
| Other | 7,438 | 7,282 | 2.1% | 17,497 | 14,557 | 20.2% |
| GDC | 974 | 797 | 22.2% | 1,945 | 1,950 | -0.3% |
| Total sale of services | 370,492 | 334,393 | 10.8% | 747,370 | 677,435 | 10.3% |
| Total sale of products | 19,980 | 16,764 | 19.2% | 33,602 | 37,539 | -10.5% |
| Total net revenue | 390,472 | 351,157 | 11.2% | 780,972 | 714,974 | 9.2% |
Outlook 2023 maintained
Based on the development in the first half of 2023, our strong pipeline and order backlog, we maintain our 2023 expectations:
- Revenue guidance expected to be in the range of DKK 1,550m – 1,600m, corresponding to an organic growth of 8-12% (constant currencies)
- EBITDA guidance expected to be in the range of DKK 119m – 139m, equal to a margin of 7.4 - 9.0%
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 24 August 2023 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen.
Webcast: Please login 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:
For further information, please contact:
- Søren Krogh Knudsen, CEO & President, Tel.:
About Columbus
Columbus is a global IT services and consulting company specialized in digital transformation. Our more than 1,550+ 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. . Columbus A/S is listed on
For more information visit .
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