With an EBITDA growth of 7%, Columbus delivers a satisfactory first half of 2019, and maintains full year expectations
Ballerup, 22 August 2019: Today, Columbus released the financial results for the first half of 2019. The company delivered a revenue of DKK 977m which is an organic growth of 2%. EBITDA increased to DKK 102m, an organic growth of 7%.
Good progress in the business despite a slow Q2
In general, Columbus saw good progress, especially in the M3 and Commerce practices.
Sales of Columbus Care also continued to be strong with 16% growth in the first half of the year, as well as sales of cloud services growing by 47%.
Columbus started the year with an organic revenue growth of 7% in Q1, however Q2 was slower, causing reduced growth overall within the first half of the year. Columbus Software sales, the turnaround in the US, a challenging customer project in Norway and the Brexit impact, caused the lower growth in Q2 than we expected. However, despite these challenges, Columbus still delivers.
“I am satisfied with the result for the first half of the year, where we delivered 7% EBITDA growth despite a slow Q2. In general, we see good progress in our business with many new initiatives and a successful integration process”, says CEO & President in Columbus, Thomas Honoré.
Integration of iStone on track
The integration of iStone and the Stronger Together program, is being executed according to plan and the company experiences a range of synergies across the business such as a Nordic Finance Team and a merged organisation in Norway. The Swedish Commerce business is expanding its business to UK and Denmark and Columbus’ Global Delivery Centre in India has been expanded with M3, Dynamics and AMS resources. Today, the former iStone operates under the Columbus name with one common website and an overall stronger brand.
Growth in new business areas
First half of 2019 was characterised by increased investments in building new offerings within the framework of 9 Doors to Digital Leadership®. In the first half of the year, Columbus launched a range of new offerings which are seeing good traction in the market with Enterprise customers for larger deals. The sales within the new business areas, Analytics & Business Insight, Customer Experience and Application Management (Columbus Care) continued to deliver growth.
The 9 Doors to Digital Leadership® means that Columbus can deliver “end-to-end” digital solutions that helps our customers to maximise, transform and futureproof their businesses digitally”.
Maintains expectations to 2019
Columbus maintains the announced expectations for 2019, with a revenue of DKK 2bn and EBITDA of DKK 240m.
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