Company announcement no. 2/2023
2022 financial performance: Investment in organic growth
Columbus continued to grow revenue, which amounted to DKK 1,389m in 2022, corresponding to an increase of 9%. EBITDA increased by 3% to DKK 91.8m.
All major Business Lines and most Market Units contributed to the revenue growth, especially the strategic Business Lines Digital commerce, Data & Analytics and Customer Experience & Engagement delivered solid growth.
“We are satisfied with our results in 2022 delivering yet another year with organic growth. Our stronger position with larger customers and strengthened organization are the results of our focused growth strategy - but we also recognize that profitability must be improved in 2023”, says Chairman of the Board, Ib Kunøe
“Industry focus has truly proven its value and by the end of 2022 74% of our customers originated from our core industries. In 2023, we will also be selective in our new sales activities to further position Columbus as a trusted advisor for larger customers looking for integrity, proven track record and high levels of industry-specific expertise”, says CEO & President, Søren Krogh Knudsen.
Performance highlights 2022
- Revenue growth of 9% amounting to DKK 1,389m
- EBITDA amounted to DKK 91.8m
- Recurring revenue amounted to DKK 192m, corresponding to an increase of 8%
- Profit after tax amounted to DKK 30m
- Efficiency of 63%
Operational highlights 2022
- Our new CFO Brian Iversen joined Columbus
- Divestment of Russian subsidiary
- Launch of global customer development program
- Improved efficiency in the Global Delivery Center in India
- Merge of Project and Care Business Lines
- Strengthening the Digital Advisory focus
- Launch of new sustainability strategy
- Continued focus on One-Columbus culture
Service revenue split on Business Lines
| DKK ´000 | 2022 | 2021 | ∆% |
| Dynamics | 646,128 | 619,793 | 4.2% |
| M3 | 302,958 | 296,832 | 2.1% |
| Digital Commerce | 192,233 | 157,184 | 22.3% |
| Data & Analytics | 59,332 | 37,676 | 57.5% |
| Customer Experience & Engagement | 45,179 | 30,008 | 50.6% |
| Strategy & Change | 6,513 | 0 | 100.0% |
| Other Local Business | 64,699 | 68,798 | -6.0% |
| Total sale of services | 1,317,042 | 1,210,291 | 8.8% |
| Total sale of products | 72,392 | 68,893 | 5.1% |
| Total net revenue | 1,389,434 | 1,279,184 | 8.6% |
Service revenue split on Market Units
| DKK ´000 | 2022 | 2021 | ∆% |
| Sweden | 525,024 | 483,888 | 8.5% |
| Denmark | 252,862 | 247,979 | 2.0% |
| Norway | 262,271 | 230,828 | 13.6% |
| UK | 159,916 | 137,767 | 16.1% |
| US | 80,284 | 80,915 | -0.8% |
| Other | 32,337 | 26,666 | 21.3% |
| GDC | 4,348 | 2,248 | 93.4% |
| Total sale of services | 1,317,042 | 1,210,291 | 8.8% |
| Total sale of products | 72,392 | 68,893 | 5.1% |
| Total net revenue | 1,389,434 | 1,279,184 | 8.6% |
Outlook for 2023
In 2023 we expect organic growth close to or above 10% and earnings improvements through enhanced efficiency and focus on contract profitability. Our full year guidance for 2023 is as follows:
- Revenue expected to be in the range of DKK 1,500m – 1,550m, corresponding to a growth of 8-12%
- EBITDA is expected to be in the range of DKK 115m – 135m corresponding to a margin of 7.4% - 9.0%.
In Q4 2023, we will launch our new strategy with long-term operational og financial goals.
For full details, see attached Annual Report 2022.
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 15 March 2023 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen.
Webcast: Please log in 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/BI290b8a91b3524a7f9268d1c89f7bd879
For further information, please contact:
- Søren Krogh Knudsen, CEO & President, Tel.: +45 7020 5000
- Tine Rasmussen, Communication Director, TRA@columbusglobal.com, Tel.: +45 2969 0677
About Columbus
Columbus is a global IT services and consulting company specialized in digital transformation. Our more than 1,550+ digital explorers collaborate with our customers in the manufacturing, retail & distribution, and food & process industries. We advise, implement and manage business critical solutions within Strategy & Change, Customer Experience, Digital Commerce, Data & Analytics, Application Management and Cloud ERP. Headquartered in Denmark, we have offices and partners worldwide - delivering locally on a global scale. www.columbusglobal.com. Columbus A/S is listed on Nasdaq Copenhagen – COLUM
For more information visit www.columbusglobal.com.
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