Growth in revenues and earnings
- strong results in the three most important markets: the Danish, the American,
and the Russian
• Columbus IT's revenues for Q1/2007 amounted to DKK 190M (DKK 168M in 2006),
corresponding to an increase of 13%.
• Strong, profitable results were achieved in the Group's three most important
markets: Denmark, United States of America, and Russia.
• The American subsidiaries landed ten new customers in Q1/2007, amongst others
in cooperation with Microsoft a contract with Dallas Cowboys, the third largest
sports club in the USA. The revenue for Columbus on that contract is DKK 15M.
The American subsidiaries are once again growing satisfactorily.
• Revenues of the Russian subsidiary for Q1/2007 amounted to DKK 20M and EBITDA
for the period amounted to DKK 2.6M. This is a strong improvement compared
Q1/2006 and a continuation of the very positive development from second half of
2006. The Russian subsidiary is clear of its earlier crises and once again
growing.
• The Group's software development company, To-Increase, is growing
satisfactorily and had revenues of DKK 7.1M in Q1/2007 and EBITDA for the
period amounted to DKK 2.9M.
• Strong growth in the Group's Dynamics NAV-related revenues, especially in
Denmark. Compared to the same period last year, the Dynamics NAV-related
revenues have increased by 55%, and comprised 25% of total revenues in Q1/2007.
• Operating profit (EBITDA) for the period was DKK 3.1M (DKK -4.4m in 2006),
which is in line with the management's expectations.
• The result before taxes amounted to DKK -2.5M for Q1/2007 (DKK -8.4m in 2006).
• Total equity at the end of Q1/2007 amounted to DKK 209.6M (DKK 160.3M in
2006), resulting in a solvency ratio of 42% (36% in 2006).
• Previously announced expectations for 2007 are being maintained, with total
Group revenues on the level of DKK 810-830M and an EBITDA of DKK 33-37M.
Ib Kunøe Michael Gaardboe
Chairman CEO
Columbus IT Partner A/S Columbus IT Partner A/S
For further information, please contact:
CEO Michael Gaardboe or CFO Sven Madsen, T: +45 70 20 50 00
Translation: In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.
