Columbus Interim Report Q3 2025

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	∆%
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%
Total sale of products	18,000	16,271	11%	55,563	48,210	15%
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	∆%
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%
Total sale of products	18,000	16,271	11%	55,563	48,210	15%
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:

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-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

For further information, please contact: CEO & President, Søren Krogh Knudsen, +45 70 20 50 00

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.

Attachment

• Columbus Interim report Q3 2025