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Company announcement no. 30/2025
Strengthening efficiency – focusing on renewed growth
The third quarter of 2025 reflected continued market caution, particularly in the Nordics, where customer decision-making remained cautious. Revenue declined by 7% in Q3 2025, and adjusted EBITDA amounted to DKK 24m, corresponding to a margin of 6.9%. We maintain the full-year outlook last updated in July 2025, supported by signs of improving customer activity and a solid pipeline.
“We are navigating a challenging market with discipline and focus. The organizational changes made in Q3 are already strengthening our foundation and positioning Columbus for renewed growth as market activity improves,” says CEO & President, Søren Krogh Knudsen
Q3 2025 highlights
Revenue declined by 7%, amounting to DKK 347m. Adjusted for currency effect, the decline was 6%.
EBITDA amounted to DKK 16m, compared to DKK 29m in Q3 2024. When adjusted for other operating income and expenses, Q3 2025 amounted to DKK 24m.
The EBITDA margin was 4.5%, compared to 7.9% in Q3 2024. Adjusted for other operating income and expenses, the Q3 2025 EBITDA margin came in at 6.9%.
Efficiency of 58% in Q3 2025, compared to 60% in Q3 2024, and significantly below expectations for the quarter.
Cash flow from operating activities was DKK 7m compared to DKK 57m in Q3 2024.
YTD 2025 highlights
Revenue declined by 4%, amounting to DKK 1,191m. Adjusted for currency effects, the revenue decline was 5%.
EBITDA amounted to DKK 78m compared to DKK 115m YTD 2024. When adjusted for other operating income and expenses, EBITDA amounted to DKK 89m compared to DKK 87m YTD 2024.
EBITDA margin was 7.4% compared to 7.0% YTD 2024, when adjusted for other operating income and expenses.
Efficiency of 61% YTD 2025 compared to 62% YTD 2024.
Cash flow from operating activities was DKK 42m compared to DKK 96m YTD 2024.
Service revenue split on Business Lines | ||||||
DKK ´000 | Q3 2025 | Q3 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
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Dynamics 365 | 195,969 | 222,062 | -12% | 682,758 | 735,218 | -7% |
M3 | 71,672 | 66,377 | 8% | 240,258 | 241,386 | 0% |
Digital Commerce | 37,867 | 38,925 | -3% | 132,026 | 137,412 | -4% |
Data & AI | 18,867 | 22,254 | -15% | 64,868 | 63,066 | 3% |
Other Local Business | 4,769 | 5,539 | -14% | 15,513 | 17,274 | -10% |
Total sale of services | 329,144 | 355,157 | -7% | 1,135,423 | 1,194,356 | -5% |
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Total sale of products | 18,000 | 16,271 | 11% | 55,563 | 48,210 | 15% |
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Total net revenue | 347,144 | 371,428 | -7% | 1,190,986 | 1,242,566 | -4% |
Service revenue split on Market Units | ||||||
DKK ´000 | Q3 2025 | Q3 2024 | ∆% | YTD 2025 | YTD 2024 | ∆% |
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Sweden | 99,235 | 100,221 | -1% | 364,469 | 382,015 | -5% |
Denmark | 80,892 | 92,698 | -13% | 277,325 | 307,930 | -10% |
UK | 77,519 | 83,184 | -7% | 245,203 | 236,178 | 4% |
Norway | 38,930 | 46,630 | -17% | 142,418 | 173,359 | -18% |
US | 22,239 | 21,204 | 5% | 77,946 | 61,001 | 28% |
Other | 10,006 | 10,256 | -2% | 27,228 | 30,504 | -11% |
GDC | 323 | 964 | -66% | 834 | 3,369 | -75% |
Total sale of services | 329,144 | 355,157 | -7% | 1,135,423 | 1,194,356 | -5% |
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Total sale of products | 18,000 | 16,271 | 11% | 55,563 | 48,210 | 15% |
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Total net revenue | 347,144 | 371,428 | -7% | 1,190,986 | 1,242,566 | -4% |
Outlook for 2025
We maintain the full-year outlook last updated on 16 July 2025 (Company Announcement no. 11/2025), supported by progress in key initiatives, signs of improved customer activity and a solid pipeline:
Revenue is expected to be in line with 2024, i.e. in the level of DKK 1.7bn.
EBITDA margin is expected to be in the range of 7-9%.
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 6 November 2025 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and 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:
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.
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-conf.media-server.com/register/BIb50e8fcb2c4a40c6868f497b4aeb1ca0
Live presentation on 7 November 2025
HC Andersen Capital will host a live presentation of Q3 2025 results on 7 November 2025 at 11:00 CET. Presenters from Columbus A/S will be CEO & President Søren Krogh Knudsen and 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-q3-2025
A recording of the presentation will be available via the same link.
Ib Kunøe Søren Krogh Knudsen
Chairman of the Board CEO & President
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About Columbus
Columbus is an international consultancy headquartered in Denmark with more than 1,500 employees and 1,100 customers worldwide. Columbus delivers digital solutions supporting business-critical processes across industries such as Manufacturing, Retail, Food & Beverage, and Life Science. Services include Cloud Services, Data & AI, ERP, CRM, Digital Commerce, and Cybersecurity. Columbus has a local presence in the Nordics, the United Kingdom, and the United States – and global delivery – and is positioned to drive digital transformation and enable scalable growth.
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