Interim Report Q2 2024

Company announcement no. 15/2024

Key Business Lines sustaining momentum in Q2

The development in Q2 2024 reflects a strong momentum in the majority of our business with particular strong performance in our largest area, Cloud ERP, representing 75% of our operations. Overall, the revenue growth of 9% in Q2 2024 was in line with expectations. The EBITDA margin for the quarter was 7%. Our unconditional focus on achieving a 15% EBITDA margin by 2026 led to a streamlining and performance exercise in Q2 2024 with full effect in Q4 2024. We maintain our 2024 full-year financial expectations.

“We delivered a strong revenue growth of 9% in Q2 2024 driven by solid development in our core ERP business. However, our relentless focus on achieving a 15% EBITDA margin by 2026 led to necessary streamlining of the organization during the 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.

Service revenue split on Business Lines

DKK ´000	Q2 2024	Q2 2023	∆%	YTD 2024	YTD 2023	∆%

Dynamics	224,026	191,261	17%	454,062	387,640	17%
M3	81,935	74,717	10%	175,010	155,313	13%
Digital Commerce	45,108	50,203	-10%	98,487	108,883	-10%
Data & AI	22,105	18,719	18%	40,812	38,085	7%
CXE	23,775	15,853	50%	43,202	31,455	37%
Security	7,926	12,301	-36%	15,893	12,301	29%
Other Local Business	5,486	7,438	-26%	11,735	13,693	-14%
Total sale of services	410,361	370,492	11%	839,201	747,370	12%

Total sale of products	16,538	19,980	-17%	31,937	33,602	-5%

Total net revenue	426,899	390,472	9%	871,138	780,972	12%

Service revenue split on Market Units

DKK ´000	Q2 2024	Q2 2023	∆%	YTD 2024	YTD 2023	∆%

Sweden	133,849	147,730	-9%	281,795	293,594	-4%
Denmark	106,917	83,636	28%	215,234	164,086	31%
Norway	60,613	57,338	6%	126,728	129,146	-2%
UK	77,461	54,037	43%	152,994	99,743	53%
US	20,242	19,339	5%	39,797	41,359	-4%
Other	10,144	7,438	36%	20,248	17,497	16%
GDC	1,135	974	17%	2,405	1,945	24%
Total sale of services	410,361	370,492	11%	839,201	747,370	12%

Total sale of products	16,538	19,980	-17%	31,937	33,602	-5%

Total net revenue	426,899	390,472	9%	871,138	780,972	12%

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%

Live webcast and conference call on 22 August 2024
Columbus is hosting a live webcast and conference call on 22 August 2024 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen.

Webcast: Please login to the webcast via Columbus’ investor site where you can follow the presentation and submit your written questions during the call: https://ir.columbusglobal.com/calendar-and-events

Conference call:

1. Participants are required to register in advance of the conference using the link provided below. Upon registering, each participant will be provided with Participant Dial In Numbers, and a unique Personal PIN.

2. In the 10 minutes prior to call start time, Participants will need to use the conference access information provided in the e-mail received at the point of registering. Participants may also use the call me feature instead of dialling the nearest dial in number.

Online registration to the call: https://register.vevent.com/register/BIeaffc0f600a74f4e9c64fb4262b99bf0

Live presentation on 23 August 2024
H C Andersen Capital will host a live presentation of Q2 2024 results on 23 August 2024 at 13:00 CET. Presenters from Columbus A/S will be CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen.

You can already now submit questions and sign up for the event via this link: https://www.inderes.dk/videos/columbus-presentation-of-interim-report-q2-2024

A recording of the presentation will be available via the same link.

For further information, please contact:

Søren Krogh Knudsen, CEO & President, Tel.: +45 7020 5000

About Columbus
Columbus is a global digital consultancy specialized in solving complex challenges for customers in the manufacturing, retail & distribution, food & beverage, and life science industries. With over 1,600 digital advisors in more than ten countries, we deliver business-critical solutions in areas such as CloudERP, Data & Analytics, Application Management, Digital Commerce, Cybersecurity, AI Innovation, and ESG. With headquarters in Denmark and presence worldwide, we ensure local delivery of our services on a global scale. www.columbusglobal.com

For more information visit www.columbusglobal.com.

Attachment