The positive development in the first half of 2024 continued in the third quarter with revenue growth of 8%, an EBITDA growth of 42%, and an EBITDA margin of 7.9%. Continued strong demand for Columbus' core solutions for increased efficiency and greater business insight drive growth. The expectations for 2024 are maintained.
"We had a satisfactory third quarter of 2024, which underscores our ability to navigate and deliver in line with expectations despite the increasing market uncertainty. Extended decision-making processes have become a market condition, which we have particularly experienced in Sweden with a revenue decline of 11% in Q3 2024. However, this was more than compensated for by significant progress in the UK and Denmark with growth of 35% and 22%, respectively. Our customers seek help and advice for digital transformation, and that is our core competence," says CEO Søren Krogh Knudsen.
Continued growth and improved EBITDA margin
In the third quarter, Columbus' revenue increased by 8% to DKK 371 million, mainly driven by Dynamics, CXE, and Data & AI Business Lines, which grew by 8%, 23%, and 23%, respectively. The development covers strong progress in Denmark and the UK, while the market situation in Sweden and Norway remains uncertain. The effect of the efficiency measures implemented in the second quarter of 2024 is expected to be fully realized in the fourth quarter of 2024.
The operating result (EBITDA) was DKK 29 million in Q3 2024, corresponding to a growth of 42% compared to Q3 2023. The EBITDA margin in Q3 was 7.9%, an improvement of 1.9 percentage points compared to the third quarter of 2023.
The development in Q3 2024 is an important step towards Columbus' EBITDA15 goal in 2026.
Expectations for 2024 are maintained
Based on the development in the first three quarters of 2024, our strong pipeline, and order book, we maintain our expectations for 2024:
- Organic revenue growth is expected to be in the range of 8-10%
- EBITDA margin is expected to be in the range of 9-10%
Read the full Q3 2024 report here: https://ir.columbusglobal.com/news-releases/news-release-details/interim-report-q3-2024
Highlights Q3 2024
- Revenue growth of 8%, corresponding to a total revenue of DKK 371m (6% growth adjusted for acquisitions and currency)
- EBITDA increased by 42% to DKK 29m compared to DKK 21m in Q3 2023
- EBITDA margin was 7.9% compared to 6.0% in Q3 2023
- Efficiency was 60% in Q3 2024, which is on par with Q3 2023
Highlights YTD 2024
- Revenue growth of 10%, corresponding to a total revenue of DKK 1,243m (9% growth adjusted for acquisitions and currency)
- EBITDA increased by 47% to DKK 115m compared to DKK 78m for the same period in 2023
- EBITDA margin was 9.2% compared to 6.9% for the same period in 2023
- Efficiency was 62% YTD 2024 compared to 63% for the same period in 2023
Key figures
