Columbus has today published the quarterly report for Q2 2024, which showed satisfactory development in the majority of our business with particular strong progress in our largest business area, Cloud ERP representing 75% of our operations. Group revenue increased by 9% during the period, in line with expectations, and the EBITDA margin ended at 7%. During the quarter, we implemented several efficiency measures in line with our strategic goal to raise the EBITDA margin to 15% by 2026. The full effect of these measures will be seen in Q4 2024. Expectations for 2024 are maintained.
“Columbus delivered a strong revenue growth of 9% in Q2 2024, primarily driven by our core business, Cloud ERP. The Danish and UK markets are performing particularly well, and we are also experiencing high demand for our solutions within Data & AI. In line with our strategic focus to raise the EBITDA margin to 15% by the end of 2026, we have implemented efficiency measures this quarter,” says CEO & President, Søren Krogh Knudsen.
Q2 2024 highlights
- Revenue growth of 9% amounting to DKK 427m (8% growth adjusted for acquisitions and currency).
- EBITDA amounted to DKK 30m. compared to DKK 18m in Q2 2023.
- EBITDA margin was 7.0% compared to 4.6% in Q2 2023.
- Efficiency of 63% in Q2 2024, compared to 66% in Q2 2023.
YTD 2024 highlights
- Revenue growth of 12% amounting to DKK 871m. 10% growth adjusted for acquisitions and currency.
- EBITDA amounted to DKK 85m (DKK 65m adjusted for the M3CS legal case in Q1 2024), compared to DKK 57m H1 2023.
- EBITDA margin was 9.8% compared to 7.3% in H1 2023. Adjusted for the M3CS case in Q1 2024, EBITDA margin was 7.5%.
- Efficiency of 63% in H1 2024, compared to 65% in H1 2023.
Key figures
Outlook 2024 maintained
Based on the development in the first half of 2024, our strong pipeline and order backlog, we maintain our 2024 expectations:
- Revenue guidance expected to be in the range of 8-10% organic growth
- EBITDA margin expected to be in the range of 9-10%
Read the full report here: https://ir.columbusglobal.com/news-releases/news-release-details/interim-report-q2-2024