Columbus continues the progress and delivers revenue growth of 52% and growth in EBITDA* of 22% in the first 9 months. The acquisitions of iStone and HiGH Software and sale of Columbus Software drive the growth...
With a revenue increase of 52% (DKK 1,381m) and EBITDA* growth of 22% (DKK 119m) Columbus delivered three solid quarters in a row.
The revenue growth was primarily driven by the acquisition of iStone which Columbus announced on 2 January 2018 and secondarily by the acquisition of HiGH Software on 9 January 2018. The increase in EBITDA* was also driven by the mentioned acquisitions as well as the sale of Columbus Software.
”Columbus delivers great progress in the first nine months where the acquisition of iStone lead to a significant growth in revenue and earnings. At the same time, we showed progress in our strategic business areas such as Columbus Software, Columbus Care and cloud services, which overall means that we continue to deliver a satisfactory result”, says CEO in Columbus, Thomas Honoré.
Strong progress in the sale of Columbus Software
The sale of Columbus Software grew by 34%. Both the sale of Columbus’ existing software portfolio and HiGH Software’s portfolio within rental and leasing solutions increased. The conversion to the cloud continues and the sale of Columbus’ own software products shows great progress in a growing market.
High activity drives the growth in the services business
The service revenue increased by 72% in the first 9 months (DKK 1,063m). The growth was primarily driven by the acquisitions of iStone and HiGH Software and secondarily by general high activity level in the services business. Columbus Care delivers significant progress of 49% growth. Columbus Care ensures high availability of the critical applications and infrastructure in the business and is an area with strong increasing demand from Columbus’ customers.
Increase in recurring revenue
In the first 9 months, recurring revenue increased by 26% now constituting 22.5% of the total revenue in Columbus. The progress was driven by acquisitions, Columbus Care and cloud-services. Recurring revenue is based on long-term customer relations and consists of Columbus Software subscriptions, external software licenses, cloud and Columbus Care contracts.
Columbus maintains expectations to 2018
Columbus maintains the announced expectations to 2018 with a revenue in the level of DKK 2bn and EBITDA* in the level of DKK 200m.
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*EBITDA before share-based payment