Columbus A/S Q2 2024 Financial Results
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Key Business Lines Sustaining Momentum in Q2 2024
The development in Q2 2024 reflects strong momentum in the majority of our business, with particularly strong performance in our largest area, Cloud ERP, representing 75% of our operations. Overall, the revenue growth of 9% in Q2 2024 was in line with expectations. The EBITDA margin for the quarter was 7%. Our unconditional focus on achieving a 15% EBITDA margin by 2026 led to a streamlining and performance exercise in Q2 2024, with full effect anticipated in Q4 2024. We continue to maintain our 2024 full-year financial expectations.
“We delivered a strong revenue growth of 9% in Q2 2024 driven by solid development in our core ERP business. However, our relentless focus on achieving a 15% EBITDA margin by 2026 necessitated a streamlining of the organization during the quarter,” states CEO & President, Søren Krogh Knudsen.
Highlights from Q2 2024
- Revenue growth of 9%, amounting to DKK 427m, with an 8% growth adjusted for acquisitions and currency.
- EBITDA amounted to DKK 30m, compared to DKK 18m in Q2 2023.
- EBITDA margin was 7.0%, compared to 4.6% in Q2 2023.
- Overall efficiency was recorded at 63% in Q2 2024, down from 66% in Q2 2023.
Year-To-Date Highlights for 2024
- Revenue growth of 12%, totaling DKK 871m, with 10% growth adjusted for acquisitions and currency.
- Year-to-date EBITDA amounted to DKK 85m (DKK 65m adjusted for the M3CS legal case in Q1 2024), against DKK 57m in H1 2023.
- EBITDA margin was 9.8% compared to 7.3% in H1 2023, and 7.5% when adjusting for the M3CS case in Q1 2024.
- Year-to-date efficiency remained at 63% compared to 65% in H1 2023.
Service Revenue Split by Business Lines
The following summary indicates the revenue across different segments of service lines:
- Dynamics: Q2 2024 revenue was DKK 224m, reflecting a 17% increase from Q2 2023.
- M3: Revenue of DKK 81m in Q2 2024, showing a 10% increase year-on-year.
- Digital Commerce: Q2 2024 saw a revenue drop to DKK 45m, a 10% decrease.
- Data & AI: Revenue for Q2 2024 increased by 18% to DKK 22m.
- CXE: Revenue jumped by 50% to DKK 23m in Q2 2024.
- Security: Revenue dropped to DKK 7m, marking a 36% decrease.
- Other Local Business: Q2 2024 resulted in DKK 5m, a drop of 26% from last year.
In total, service sales amounted to DKK 410m for Q2 2024, up 11% from DKK 370m in Q2 2023.
Market Outlook for 2024
Based on developments occurring in the first half of 2024, as well as a strong project pipeline and order backlog, the company maintains its 2024 expectations:
- Revenue guidance suggests an organic growth range of 8-10%.
- The EBITDA margin is expected to be within the 9-10% range.
Upcoming Events and Financial Presentations
Columbus A/S will host a live webcast and conference call, providing details about the Q2 2024 results:
The conference is scheduled, with the CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen presenting the financial results.
For more information, please contact:
- Søren Krogh Knudsen, CEO & President, Tel.: +45 7020 5000
Frequently Asked Questions
What were the main highlights of Columbus A/S's Q2 2024 report?
Columbus A/S reported a 9% revenue growth, achieving DKK 427m, and maintained a 7% EBITDA margin for the quarter.
How did the revenue perform in the first half of 2024?
The first half of 2024 saw a 12% revenue increase to DKK 871m, indicating a positive growth trend for the company.
What are the future growth expectations for Columbus A/S?
The company projects organic revenue growth between 8-10% and aims for an EBITDA margin in the range of 9-10% for 2024.
Who can be contacted for further information regarding the report?
Søren Krogh Knudsen, CEO & President, can be reached at +45 7020 5000 for additional inquiries.
When will the financial presentation take place?
The financial presentation of Q2 results will be held soon, following the release of the interim report, with a live stream available for interested participants.
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