<img src="https://secure.leadforensics.com/133892.png" alt="" style="display:none;">

2021 was a year of transformation for Columbus where we reached important milestones while delivering organic revenue growth of 5%. It was the first year of the Focus23 strategy where we initiated major changes to the operation to focus and simplify the business and increase operating efficiency to move into a position as trusted digital advisor”, says Chairman of the Board, Ib Kunøe

Performance highlights for 2021

  • The Columbus Group delivered a revenue of DKK 1,482 corresponding to a growth of 5%, mainly driven by:
    • Top line growth in most Business Lines where Digital Commerce, Data & Analytics and Customer Experience & Engagement delivered double digit growth numbers
    • Columbus Norway with a revenue growth of 47%
  • Service revenue increased by 7% to DKK 1,267m
  • Reported EBITDA grew by 8% to DKK 109m providing an EBITDA margin of 7.4%, mainly driven by:
    • Strong development in Norway
    • Improvement in the continuing business in the US
  • Product revenue declined by 3.9% to DKK 215m
  • Recurring Revenue improved by 12.2% to DKK 319m, constituting 22% of total revenue
  • Result for the year after tax increased to DKK 61m, a growth of 158%.
  • Cash flow from continued operations was negative DKK 109m. The primary reason for the decline is an instalment of bank loans of DKK 100m
  • Equity increased by DKK 29m since 31 December 2020, primarily due to the positive net result. With a total equity of DKK 741m, Columbus has a solvency of 58% (2020: 43%)

Key strategic milestones during 2021

In summary, we reached important strategic milestones during 2021:

  • New CEO & President for Columbus, Søren Krogh Knudsen joined Columbus in June 2021
  • Divestment of To-Increase and Columbus’ Microsoft Dynamics US SMB Business Unit
  • Completed a comprehensive strategic acceleration program
  • Implemented a new global customer-centric operating model
  • Implemented new global ERP platform
  • Launched common company values

Exiting the Russian market

With a part of Columbus’ business in Russia and Ukraine, Columbus is impacted by Russia’s invasion of the sovereign state of Ukraine.

Columbus has with effect from 3 March stopped new sales and hiring in Russia, but continues to serve existing contracts. Columbus will respect all present and future sanctions.

Columbus is currently investigating various options for how to exit the Russian market.

Outlook for 2022

2022 will be the first year for Columbus to operate in the new global organizational structure with global Business Lines and local Market Units. The new structure will ensure the foundation to streamline operations in order to improve efficiency and profitability.

Based on the financial performance in 2021, current order book and pipeline forecast, our guidance for full-year 2022 is as follows:

  • Revenue is expected to be in the range of DKK 1,525m – 1,625m corresponding to an organic growth of 8% to 15%, respectively, excluding Russia.
  • EBITDA is expected to be in the range of DKK 120m –145m corresponding to a margin of 7.4% to 9.5%.

Discuss this post

Recommended posts

These days, if your company isn't engaged in or at least thinking about digital transformation, you're in a distinct minority.
User Acceptance Testing gives an organization the chance to test its software (a new implementation, an upgrade or even a customization) by leveraging real-world examples and personnel who will be using the software routinely. It is often the final stage of the implementation process—conducted to ensure that system requirements meet business needs while allowing for issues (if any) to be fixed before the system goes live (which is the premise of effective application management service).
It is now widely recognized how crucial it is for companies to strengthen overview and insight into their data, and to use it efficiently and systematically. This in-vogue phenomenon—known as digital transformation—allows organizations to optimize processes, supply chain value and competitiveness. Accurate identification of optimal trading opportunities via new technologies is an added benefit.
According to Gartner’s Digital Transformation in Manufacturing report for 2020, 36% of CIOs in the heavy manufacturing sector have recently faced disruption, which has made their competitiveness and operating costs fall behind their peers.
The goal in manufacturing has long been optimal operational agility. That seemingly unreachable objective means peak levels of both efficiency and effectiveness, where you only produce what the customers want, when they want it – zero waste, 100% service level, at the lowest cost possible.
right-arrow share search phone phone-filled menu filter envelope envelope-filled close checkmark caret-down arrow-up arrow-right arrow-left arrow-down