2019 results in line with guidance – COVID-19 measures implemented

Release no. 6/2020

Columbus achieved 2019 results in line with guidance even though the US business did not perform satisfactorily. The positive development continued in the first two months of 2020; however, realities have changed and implementation of measures to deal with the COVID-19 situation has Columbus’ full attention for the wellbeing of employees and customers.
 
In 2019, Columbus delivered organic growth of 4% amounting to revenues of DKK 1,932m*. EBITDA grew by 15% adjusted for the IFRS 16 effect (39% without adjustment), and Earnings Before Tax amounted to DKK 49m after write down of goodwill of DKK 90m. Outlook for 2020 and long-term guidance will be released when having a better insight into the impact and temporary market slowdown. 

Columbus A/S has today published the Annual Report 2019, cf. release no. 5/2020.

In 2019, Columbus delivered a revenue of DKK 1,932m, corresponding to an increase of 4%*. EBITDA increased from DKK 171m to DKK 238m, including IFRS 16 effect of DKK 41m (39%). Adjusted for IFRS 16 effect, EBITDA has increased by 15%.  

The earnings before tax amounted to DKK 49m, corresponding to a decrease of 58% compared to 2018.
 
Compared to guidance for the year:

• Revenue in the level of DKK 2bn
• EBITDA in the level of DKK 240m

The guidance on revenue and EBITDA were met. However, the write down of goodwill in the US was not satisfactory.

“We are content with the results for 2019, where we delivered increase in revenue and EBITDA while succeeding in integrating former iStone, delivering strong growth in new business areas and increasing cloud and recurring  revenue. We foresee a challenging first half of 2020 due to the uncertainty caused by the coronavirus, however we are fully focused on adapting our business and commercial activities to the changing situation, while maintaining our ability to service our customers in the best way possible”, says Thomas Honoré, CEO & President in Columbus.

COVID-19 causes short-term negative impact
Until end of February, our business has shown a good start to the year with overall revenue growth, despite a continued decline in our US business unit.

Since the outbreak of the coronavirus, we are starting to see that our customers are holding back investments due to a temporary production or sales decrease or even shutdown as a direct consequence of the coronavirus.

Columbus expects to see a substantial, short-term negative impact on customer demand which is already starting to materialize in some of our markets.

Columbus has taken steps to ensure the health and safety of our employees, customers and partners while continuing to serve our customers best possible.