Interim Management Statement for Q3 2015 Release no.

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Nov 3, 2015 at 6:30 AM

Interim Management Statement for Q3 2015

Release no. 23/2015

In accordance with the regulations for listed companies’ submission of interim statements, Columbus A/S hereby submits the interim management statement for the period 01.01.2015-30.09.2015 (9 months).

Increased revenue in Q3 due to acquisitions and sale of Columbus Software Revenue in Q3 YTD amounted to DKK 800.3m (2014: DKK 627.1m), corresponding to an increase of 28% compared to the same period last year. The revenue growth is primarily driven by acquisitions and a significant growth in sale of Columbus Software.

EBITDA* amounted to DKK 51.1m (2014: DKK 45.5m), corresponding to an increase of 12% compared to the same period last year.

Columbus Software: Strong growth contributes to revenue and EBITDA increase Columbus’ software sale increased YoY by 60%. Both sale of Columbus licenses and Columbus subscriptions increased considerably.

The increase in sale of Columbus Software significantly contributes to the growth in the company’s total revenue and EBITDA in Q3 YTD.

Revenue growth in the consultancy business

The sale of consultancy services increased by 18% in Q3 YTD compared to Q3 YTD 2014. However, the productivity in the consultancy business is at the same level as last year, which is primarily due to operational challenges in Columbus’ Norwegian subsidiary.

Industry solutions in line with expectations

In Q3 YTD, sale of industry solutions to the food, retail and manufacturing industries constituted 78% of the total revenue, which is at the same level as last year. The acquisitions are not yet fully aligned with Columbus’ industry verticalization model. However, the development is in line with expectations and the result satisfactory.

Volume increase in Columbus’ Global Delivery Center

Columbus’ Global Delivery Center shows growth in delivery volume of 38% in Q3 YTD compared to Q3 2015 and delivers 5,887 global delivery days for customer support and implementations.

Acquisitions and organic growth strengthen Columbus’ position in the US

Columbus US subsidiary delivered strong progress in Q3 YTD due to both organic growth and acquisitions. In general , the US subsidiary has experienced increased customer intake during Q3.

On 1 July 2015, Columbus acquired the US consultancy business Sherwood Systems with more than 300 customers. The acquisition of Sherwood System supports Columbus’ strategy to expand and strengthen the company’s positon in the US market, stated earlier this year with the acquisition of the coast-to-coast consultancy InterDyn BMI. The integration of the two businesses are progressing as planned.

Continuous recovery of Columbus Norway

Columbus Norway is still facing operational challenges. Columbus continues to execute recovery plans including re-organization and staff reduction, while keeping a strong focus on increasing sales, and deliver profitable and high quality projects to customers.

Development in revenue

Revenue increased primarily due to the acquisitions and the growth in sale of Columbus Software.

DKK '000	YTD 2015	YTD 2014	2014
Columbus licenses	31,135	16,707	28,782
Columbus subscriptions	30,881	21,949	33,059
External licenses	66,919	46,277	73,891
External subscriptions	131,482	83,054	124,350
Consultancy	525,730	445,935	596,942
Other	14,166	13,153	21,267
Net revenue	800,313	627,075	878,291

EBITDA before share-based compensation	51,111	45,521	81,591
Share-based compensation	-944	-2,136	-2,887
EBITDA	50,167	43,385	78,704

Expectations to revenue and EBITDA are being maintained

The announced expectations to 2015 are being maintained, and thus Columbus expects revenue in the level of DKK 1.03bn and EBITDA* in the level of DKK 94m in 2015.

Latest developments

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 & President

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.

Income statement

DKK ´000	YTD 2015	YTD 2014	2014

Net revenue	800,313	627,075	878,291
External project costs	-193,139	-139,176	-204,491
Gross profit	607,174	487,899	673,800

Staff expenses and remuneration	-452,212	-355,284	-476,614
Other external costs	-106,322	-87,677	-117,004
Other operating income	2,494	604	1,440
Other operating cost	-23	-21	-31
EBITDA before share-based payment	51,111	45,521	81,591

Share-based payment	-944	-2,136	-2,887
EBITDA	50,167	43,385	78,704

Depreciation	-21,156	-17,555	-25,811
Operating profit (EBIT)	29,011	25,830	52,893

Financial income	5,142	4,942	6,371
Financial expense	-230	-684	-564
Profit before tax	33,923	30,088	58,700

Balance sheet

DKK ´000	YTD 2015	YTD 2014	2014

ASSETS

Goodwill	314,390	187,606	198,622
Other intangible assets	22,179	2,640	2,568
Development projects finalized	33,283	35,116	46,970
Development projects in progress	21,089	11,018	1,233
Intangible assets	390,941	236,380	249,393

Leasehold inprovements	109	161	148
Plant and operating equipment	12,781	7,683	8,500
Tangible assets	12,890	7,844	8,648

Deferred tax assets	21,745	17,885	19,400

Total long-term assets	425,576	262,109	277,441

Inventories	517	153	270

Trade receivables	134,228	117,400	144,091
Contract work in progress	13,936	13,133	8,491
Corporate tax	6,043	40	4,106
Other receivables	10,320	5,718	8,024
Prepayments	6,518	8,090	8,777
Receivables	171,045	144,381	173,488

Cash	40,802	81,788	99,018

Total short-term assets	212,364	226,322	272,777

TOTAL ASSETS	637,940	488,431	550,218

Balance sheet

DKK ´000	YTD 2015	YTD 2014	2014

EQUITY AND LIABILITIES

Share capital	142,123	137,831	137,831
Reserves on foreign currency translation	-8,279	-9,794	-12,693
Retained profit	216,472	171,096	186,980
Proposed dividends	0	0	13,783
Group shareholders equity	350,316	299,133	325,901
Minority interests	2,135	3,357	4,233
Equity	352,451	302,490	330,134

Deferred tax	421	207	281
Provisions	21,440	5,696	5,172
Other liabilities	0	1,270	1,270
Non-current liabilities	21,861	7,173	6,723

Debt to credit institutions	16,426	7,403	6
Client prepayments	31,862	20,339	19,542
Trade accounts payable	43,727	35,267	58,620
Corporate tax	8,493	4,606	7,430
Other liabilities	138,626	91,049	102,399
Accruals	24,494	20,104	25,364
Current liabilities	263,628	178,768	213,361

Total liabilities	285,489	185,941	220,084

TOTAL EQUITY AND LIABILITIES	637,940	488,431	550,218

Segment data

In order to support decisions about allocation of resources and assessment of performance of the segments, the Group’s internal reporting to the Board of Directors of the Parent Company is based on the following grouping of operating segments:

Strategic business areas	Description					Geographical segment
ISV (Independent Software Vendor)	Development and sale of industry-specific software within Columbus' three focus industries: Retail, food and manufacturing					No specific area
Consultancy	Sale and implementation of standard business systems.					Western Europe Eastern Europe North America

Information about the Group’s segment is stated below.

		Consultancy

DKK ´000	ISV	Western Europe	Eastern Europe	North America	HQ, GDC and Eliminations		Total

YTD 2015

Columbus licenses	22,766	10,689	2,484	4,597	-9,401		31,135
Columbus subscriptions	24,651	9,027	808	3,950	-7,555		30,881
External licenses	0	23,319	10,739	32,836	25		66,919
External subscriptions	-128	49,585	16,489	65,723	-187		131,482
Consultancy	12,318	291,574	67,931	166,491	-12,584		525,730
Other	463	5,771	1,360	6,487	85		14,166
Total net revenue	60,070	389,965	99,811	280,084	-29,617		800,313

Gross profit	52,061	293,284	72,695	177,415	11,719		607,174
EBITDA	28,247	30,159	5,673	7,194	-21,106		50,167



		Consultancy

DKK ´000	ISV	Western Europe	Eastern Europe	North America	HQ, GDC and Eliminations		Total

YTD 2014

Columbus licenses	11,807	7,599	1,835	1,583	-6,117		16,707
Columbus subscriptions	18,739	6,066	642	2,464	-5,962		21,949
External licenses	0	23,108	13,305	10,022	-158		46,277
External subscriptions	241	43,992	15,253	24,707	-1,139		83,054
Consultancy	10,471	294,025	81,689	68,573	-8,823		445,935
Other	625	7,788	2,026	2,539	175		13,153
Total net revenue	41,883	382,578	114,750	109,888	-22,024		627,075

Gross profit	38,029	286,548	86,949	74,171	2,202		487,899
EBITDA	17,516	33,959	10,281	1,129	-19,500		43,385

* EBITDA before share-based compensation

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Fluence Energy Faces Leadership Departures Amid Legal Woes

Fluence Energy's Rocky Road Continues It's chaos once again in the halls of Fluence Energy (NASDAQ:FLNC). The ship seems to drift further from solid ground as their CEO and CFO candidly decided to jump ship, shaking investor confidence even more vigorously. The market's reaction was swift and brutal: a nasty 9% share drop, leaving investors with more than just a headache....

Lilly's Obesity Breakthroughs: A Step Beyond the Scale

Pushing the Boundaries of Obesity Treatment Alright, let's cut through the noise and get to what really matters here. Eli Lilly is taking on obesity treatment like it's Clash of the Titans at this year's ObesityWeek 2026 in Washington, D.C. Forget just dropping pounds—Lilly wants to reshape how we think about obesity entirely. They're not just leaning into the scale,...

Gaine Expands Healthcare Data Solutions Ahead of HLTH 2026

Ever felt like healthcare systems are still stuck in a bygone era, struggling with data flinging through the void? Well, Gaine Technology is throwing down its gauntlet to change that narrative. Successful in pharmaceuticals and life sciences, they're turbocharging their Consent and Preference Management solution across the vast, tangled web of healthcare markets just in...

Manhattan Associates Faces Investigation by KSF Law Firm

KSF Digs Into Manhattan Associates' Claims In the swirl of the financial world, you rarely see an investigation that doesn’t raise a few eyebrows. This time, it's Manhattan Associates, Inc. (NasdaqGS: MANH) squarely in the crosshairs of Kahn Swick & Foti, LLC (KSF), a pivotal player in securities litigation. You’ve got to wonder what dirt might be uncovered here,...

Novo's Research Unlocks New Insights into Food Noise

Unpacking the Science Behind Food Noise When folks think about losing weight, most picture shedding pounds and fitting into those elusive smaller jeans. But get this—there’s a curveball called ‘food noise’ that’s making waves in obesity treatment. Novo Nordisk’s semaglutide injections are shaking things up, cutting down on those persistent thoughts about food....

Novo's CagriSema Trial Shows Promising Obesity Results

Novo's Latest Weight Loss Gamble Well, look what we have here. Novo Nordisk is shaking up the obesity treatment scene with some bold numbers from their REDEFINE 9 trial. The investigational CagriSema combo of amylin analog and GLP-1 receptor agonist has churned out an eyeball-popping near 21% weight loss. For context, we're staring down the barrel of numbers far meatier...

Breakthrough T1D Pushes Global T1D Awareness Forward

Shining a Light on T1D with Global Efforts In a world where a change in lifestyle can happen at the drop of a hat, Breakthrough T1D is making waves by expanding their global "See T1D" campaign in honor of World Diabetes Day. This isn't your run-of-the-mill awareness push—this is about propelling an understanding of what life truly entails for those living with type 1...

Servier's Data on Tovorafenib Shows Promise in pLGG

New Light on a Critical Challenge Talk about a fight in the dark. Pediatric low-grade glioma (pLGG) is a menace that families dread, an uphill battle with odds that feel relentless. Enter Servier and its four-year updated data on OJEMDA® (tovorafenib), a beacon of hope for kids battling these tricky brain tumors. Results, presented at the SNO meeting, are fresh off the...

CARsgen's CAR-T Breakthrough on China's Insurance List

A Game Changer for CAR-T Therapies There's a breeze of optimism blowing from Shanghai these days—a rare sensation in this market of endless skirmishes. CARsgen Therapeutics Holdings Limited, a company entrenched in the development of cutting-edge CAR T-cell therapies, just notched a victory. They've announced that their CAR T-cell therapy product, satricabtagene...

Advanta's Game-Changer: Acquiring Misr Hytech to Expand in Africa

Advanta's Strategic Move into Africa Alright, let's cut to the chase. Advanta is making a big splash with its acquisition of Misr Hytech, a move that's going to shake things up in Africa's agricultural sector. This isn't just another merger to gloss over with your morning coffee. We're talking about a deal that's supposed to wrap up by January 31, 2027, bringing together...