Despite an overall decline in revenue of 8%, amounting to DKK 421m, Columbus delivered a strong EBITDA result in Q1 2021 of DKK 55m, corresponding to an increase of 40% and an increased EBTIDA margin of 13%, rising from 8.6%. The positive development is due to high efficiency in the consultancy business as well as tight cost control and lower travel cost.
The revenue development covers solid progress in the strategic business areas; Digital Commerce, Data & Analytics, and Customer Experience – as well as Columbus’ Norwegian business unit delivering a strong quarter.
Performance highlights for Q1 2021
- Revenue declined by 8% in Q1 2021 to DKK 421m (Q1 2020: 457m)
- EBITDA increased by 40% in Q1 2021 to DKK 55m (Q1 2020: 39m)
- Record-high EBITDA margin of 13% due to high utilization in our consultancy business
- Extraordinary dividend payout of DKK 6 per share, corresponding to DKK 776m
Columbus maintains the expectations for 2021
During Q4, Columbus began to see the market picking up, and therefore Columbus started onboarding people which is expected throughout 2021. In Q1 2020 market demand has significantly increased and Columbus has built a solid pipeline with expected growth for Q2 2021 across the business. Columbus’ outlook for full-year 2021 will remain unchanged as follows:
- Revenue is expected to be in the range of DKK 1,650m and DKK 1,800m.
- EBITDA is expected to be in the range of DKK 125m and DKK 150m.
Søren Krogh Knudsen will be joining Columbus 7 June 2021
The divestment of the software company, To-Increase was completed on 26 January and end of March Columbus announced the divestments of the Baltic companies in Estonia and Lithuania. These were important milestones in executing our Focus23 strategy as well as the global re-organizing towards a more customer-centric and simplified operation. Columbus’ ambition is to become digital advisors for larger customers driving increased customer value.
Søren Krogh Knudsen will join Columbus on 7 June 2021 as CEO & President and will with his background within the management consultancy industry and change management together with the existing management group drive the implementation of the Focus23 strategy with the goal of gradually increasing organic revenue to minimum 10% annually from 2023.
“Despite an overall decline in revenue of 8% in the first quarter of 2021, Columbus delivered a significant EBITDA growth of 40%. With a profitable result, the initial execution of Focus23 in Q1, and the forthcoming onboarding of our new CEO Søren Krogh Knudsen, we are confident that 2021 will be a successful year for Columbus”, says Chairman of the Board, Ib Kunøe.