Columbus IT Partner A/S
18.08.2011 10:35
---------------------------------------------------------------------------
Press Release
Copenhagen, 18th of August 2011
Despite an increase in revenues of 3 % to DKK 455.4 million for the first
six-month period of 2011 compared to 2010's first six-month period revenues of
DKK 441.8 million, the overall result for Columbus IT has dropped for the first
six-month period of 2011. The result before depreciation and amortisation
(EBITDA) has decreased from DKK 16.1 million in the first six-month period of
2010 to DKK 8.2 million in the first six-month period of 2011, caused by the
restructuring in France, which is taking longer than expected. As a
consequence, Columbus IT has revised its 2011 result forecast to DKK 40
million, while maintaining the DKK 930 million revenues forecast.
'Business is going really well in Norway, UK, the Baltics and Russia and all of
these countries are delivering remarkable results, while the American, Polish
and Dutch companies have not developed exactly as expected. In France, we've
yet to experience growth due to the recently completed restructuring, which is
holding back the otherwise excellent result in Western Europe. Despite an
expected increase in revenues, the half-yearly overall result did not meet our
expectations, and this is why we have decided to scale down our forecast for
the overall result for the financial year. With significant progress in several
markets, we continue to forecast total revenues of DKK 930 million for the
financial year,' says CEO Thomas Honore, Columbus IT.
Engines of growth
In the first six months of 2011, Columbus IT made progress in Western Europe,
Eastern Europe and the USA. Every country in Western Europe reports significant
bottom-line progress. Revenues in Western Europe have increased by 10 %
compared to the first six-month period of 2010 - from DKK 80.7 million in the
first six-month period of 2010 to DKK 89.1 million in the first six-month
period of 2011, and EBITDA has increased by 286 %, from DKK 2.1 million in the
first six-month period of 2010 to DKK 6.0 million in the first six-month period
of 2011.
Revenues in Eastern Europe have increased by 12 %, from DKK 80.8 million in the
first six-month period of 2010 to DKK 90.4 million in the first six-month
period of 2011. EBITDA for the period has increased by 308% from DKK 1.2
million in the first six-month period of 2010 to DKK 4.9 million in the first
six-month period of 2011. The Lithuanian company has experienced positive
progress in 2011 compared to a loss in 2010, and the Russian company has also
significantly boosted growth in Eastern Europe.
Revenues in North America have increased by 6 %, from DKK 57.7 million in the
first six-month period of 2010 to DKK 61.2 million in the first six-month
period of 2011. EBITDA for the period has dropped by 56 % from DKK 5.7 million
in the first six-month period of 2010 to DKK 2.5 million in the first six-month
period of 2011. Investments in new staff, increased marketing activities
related to the new strategic initiatives and increased loss on debts have all
contributed to the decrease in EBITDA.
The Nordic countries
Revenues in the Nordic countries dropped by 5 %, from DKK 204.7 million in the
first six-month period of 2010 to DKK 195.2 million in the first six-month
period of 2011. EBITDA for the period has decreased by 10 % from DKK 15.7
million in the first six-month period of 2010 to DKK 14.2 million in the first
six-month period of 2011. The drop in revenues was due to loss of market share
in the Danish NAV business, however, to some degree this has been
counterbalanced by progress in the Norwegian company.
Realising the strategy
'We are well underway in realising the reported strategy and have invested in
new key employees, who are operating globally holding core competencies in the
retail, food and manufacturing industries. At the same time, we have invested
in marketing and other activities thus focusing the global organisation on
these specific industries. I am convinced that the new strategy will increase
earnings in both the consulting and software businesses. We're on the right
track, and the many new global corporate groups that we have won in our target
industries during the past six months confirm this,' says CEO Thomas Honore,
Columbus IT.
Download the half-yearly report at: www.columbusit.comor contact CFO, Hans
Henrik Thrane by e-mail: hht@dk.columbusit.comor tel.: +45 29 69 06 69.
Further information
CEO Thomas Honore, Columbus IT
E-mail: tho@dk.columbusit.com
Mobile: +45 29 69 07 16
About Columbus IT
Columbus IT operates as a software and service company in the market for
integrated business solutions based on Microsoft Dynamics primarily to the
retail, food and industrial equipment manufacturing (IEM) industries. Columbus
IT is one of the leading Microsoft Dynamics consulting companies, employing
more than 1,000 staff operating in more than 25 countries and with a total
customer base of more than 5,000 companies. Read more at www.columbusit.com.
Click on, or paste the following link into your web browser, to view the
associated documents
https://newsclient.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmen
tId=358971
News Source: NASDAQ OMX
18.08.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Columbus IT Partner A/S
Denmark
Phone:
Fax:
E-mail:
Internet:
ISIN: DK0010268366
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: Increased revenues at Columbus IT
| Source: EQS Group AG