Columbus Interim Report Q2 2025

Company announcement no. 17/2025

Market caution reflected in Q2 results
Columbus experienced increased macro-economic headwinds in Q2 2025, leading to prolonged sales cycles and postponed IT project decisions. As a result, revenue decreased by 4% and EBITDA amounted to DKK 16m in Q2 2025, corresponding to an EBITDA margin of 4%, compared to 7% in Q2 2024. Despite the decline in revenue, we maintain a stable operational business with positive cashflow from operating activities, up 15% compared with Q2 2024. The outlook for 2025 has been adjusted to reflect current market conditions.

“While the current market conditions require us to adjust our short-term expectations, we remain confident in Columbus’ long-term growth potential and continue to execute our New Heights strategy with discipline and focus,” says CEO & President, Søren Krogh Knudsen

Q2 2025 highlights

• Revenue declined by 4%, amounting to DKK 410m. Adjusted for currency effect, the decline was 6%.
• EBITDA amounted to DKK 16m, compared to DKK 30m in Q2 2024. When adjusted for other operating income and expenses, Q2 2024 ended at DKK 22m.
• EBITDA margin was 4.0%, compared to 7.0% in Q2 2024. When adjusted for other operating income and expenses, Q2 2024 ended at 5.2%.
• Efficiency of 63% in Q2 2025, same level as Q2 2024, but below expectations.
• Solid cash flow achieved with DKK 18m from operating activities compared with DKK 16m in Q2 2024.

YTD 2025 highlights

• Revenue declined by 3%, amounting to DKK 844m. Adjusted for currency effects, the revenue decline was 4%.
• EBITDA amounted to DKK 63m compared to DKK 65m in H1 2024, when adjusted for the M3CS legal case.
• EBITDA margin was 7.4% compared to 7.5% in H1 2024, when adjusted for the M3CS legal case.
• Efficiency of 62% in H1 2025 compared to 63% in H1 2024.
• Cash flow from operating activities was DKK 35m compared to DKK 39m in H1 2024.