Annual Report 2024
In This Article:
Company announcement no. 2/2025
2024 financial performance: Continued growth and solid EBITDA margin
Columbus’ revenue amounted to DKK 1,659m in 2024, corresponding to an increase of 8%. Organically, revenue grew by 7%. EBITDA increased by 30% to DKK 153m.
Most of our global Business Lines have been performing well in 2024, with our largest business, Dynamics, delivering 11% growth. The M3 business is back to growth delivering 6% growth, while Data & AI is capitalizing on the emerging technological trends, delivering 15% growth. Our CXE business continues to perform, delivering 29% growth. Digital Commerce faced challenges throughout the year, particularly in our Swedish market, resulting in a decline of 8%.
Our performance in the UK and Danish markets has been strong, growing by 38% and 25%, respectively, in service revenue, reflecting our ability to capitalize on favorable market dynamics. However, economic nervousness in Sweden and Norway led to extended decision cycles and postponed projects, resulting in a 9% decline in Sweden and a 3% decline in Norway.
Overall, revenue growth of 8% and 7% adjusted for acquisitions and currency is considered satisfactory in a challenging market.
"Columbus has successfully transformed into a consultancy firm, driving growth and profitability. We are now ready to take the next step with a potential change in ownership, further accelerating our growth and success."
Chairman of the Board, Ib Kunøe
"2024 has been transformative for Columbus. Despite global uncertainties, we delivered satisfactory results, demonstrating adaptability and resilience."
CEO & President Søren Krogh Knudsen.
Performance highlights 2024
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Revenue growth of 8% amounting to DKK 1,659m
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EBITDA amounted to DKK 153m, corresponding to an increase of 30%
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Recurring revenue amounted to DKK 232m, corresponding to an increase of 13%
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Profit before tax amounted to DKK 58m, corresponding to an increase of 47%
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Efficiency ranged between 60% and 63%, with an average of 62%
Service revenue split on Business Lines
| DKK ´000 | 2024 | 2023 | ∆% |
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| Dynamics | 893,968 | 804,322 | 11% |
| M3 | 320,982 | 301,472 | 6% |
| Digital Commerce | 180,550 | 195,418 | -8% |
| Data & AI | 88,482 | 77,233 | 15% |
| CXE | 86,785 | 67,248 | 29% |
| Other Local Business | 22,225 | 29,363 | -24% |
| Total sale of services | 1,592,992 | 1,475,056 | 8% |
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| Total sale of products | 66,450 | 64,899 | 2% |
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| Total net revenue | 1,659,442 | 1,539,955 | 8% |
Service revenue split on Market Units
| DKK ´000 | 2024 | 2023 | ∆% |
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| Sweden | 507,141 | 557,072 | -9% |
| Denmark | 413,391 | 331,807 | 25% |
| Norway | 227,573 | 234,391 | -3% |
| UK | 316,975 | 229,317 | 38% |
| US | 84,126 | 82,608 | 2% |
| Other | 40,091 | 35,531 | 13% |
| GDC | 3,695 | 4,330 | -15% |
| Total sale of services | 1,592,992 | 1,475,056 | 8% |
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| Total sale of products | 66,450 | 64,899 | 2% |
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| Total net revenue | 1,659,442 | 1,539,955 | 8% |
Outlook for 2025
Based on the financial performance in 2024 and the current order book and pipeline forecast, we maintain our full year guidance for 2025, as announced in Company release no. 1/2025 of 17 January 2025: