Release no. 30/2013
In accordance with the regulations for listed companies’ submission of interim statements, Columbus A/S hereby submits the interim management statement for the period 01.01.2013-30.09.2013 (9 months).
Revenues in Q3 YTD amounted to DKK 636.2m (2012: DKK 623.2m), corresponding to an increase of 2.1%. EBITDA* amounted to DKK 41.3m (2012: DKK 25.5m), corresponding to an increase of 62%.
| DKK ´000 | YTD 2013 | YTD 2012 | Q3 2013 | Q3 2012 |
| Net revenues | 636,207 | 623,235 | 182,617 | 181,588 |
| EBITDA before share-based compensation | 41,288 | 25,558 | 6,628 | 5,599 |
| Share-based compensation | -1,179 | -332 | -781 | -111 |
| EBITDA | 40,109 | 25,226 | 5,847 | 5,488 |
Columbus continues the focus on sale of industry solutions. In total revenues from Columbus’ focus industries increased to 54% of revenues, primarily driven by the industry solution Manufacturing. Due to the industry focus Columbus is able to deliver more value to our customers, strengthen our competitive advantage and increase earnings in sale of own software and in the consultancy business.
Manufacturing segment drives the growth in industry solutions
Development in revenues
| Revenues | YTD 2013 | YTD 2012 | Q3 2013 | Q3 2012 |
| DKKm | DKKm | DKKm | DKKm | |
| Columbus software licenses | 18.9 | 20.6 | 6.0 | 5.0 |
| Columbus maintenance | 19.7 | 14.8 | 5.2 | 4.2 |
| External software licenses | 61.0 | 91.9 | 10.4 | 18.0 |
| External maintenance | 103.5 | 100.0 | 26.8 | 24.7 |
| Consultancy | 417.7 | 381.7 | 129.5 | 123.8 |
| Other | 15.4 | 14.2 | 4.7 | 5.8 |
| Total | 636.2 | 623.2 | 182.6 | 181.6 |
Revenues from external software licenses declined. The main reason for this is that our main supplier, Microsoft, is changing their sales model. The most significant change in the sales model is that Columbus is not responsible for invoicing and does not carry the debtor risk. Instead Columbus receives a sales commission. Moreover, the sales commission is earned over three years instead of one. This development is expected, but happens faster than first expected. Columbus considers this development a possibility to increase the sale of consultancy services and own software, as the total initial investment in business systems for customers becomes smaller.
Columbus maintenance increased by 33% YTD
In total, revenues from Columbus licenses and maintenance increased by DKK 3.2m YTD, corresponding to 11% compared to the same period last year. In Q3 isolated revenues from own software increased by 22% compared to the same period last year, which is considered satisfactory.
Invoiceable work increased from 49% to 52%
The sale of consultancy services increased by 9% YTD. At the same time the productivity in the consultancy business increased, and consequently invoiceable hours increased from 49% to 52%. The development is satisfactory and is the primary reason for the considerable increase in EBITDA.
The announced expectations to 2013 are being maintained, and thus Columbus expects revenues in the level of DKK 900m and an EBITDA in the level of DKK 60m.
No events or transactions with a material effect on the company’s financial position have occurred since the balance sheet date.
Ib Kunøe Thomas Honoré
Chairman CEO
Columbus A/S Columbus A/S
For further information, please contact:
CEO Thomas Honoré, 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.
* EBITDA before share-based compensation
