Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Morning Review
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
    • Insider Transactions
  • inderesTV
  • Portfolio
  • Forum
  • Premium
  • Femme
  • Learn
    • Investing School
    • Q&A
    • Analysis School
  • About Us
    • Our Coverage
    • Team
Analyst Comment

Columbus: Q4 2023 momentum shows good start to its 'New Heights' strategy

By Kasper LihnHead of Research
Columbus

Today, Columbus released its full-year 2023 results. In 2023, revenue grew to DKK 1,540m, corresponding to 11% growth YoY, just below its guided range of DKK 1,550-1,600m due to currency headwinds. However, the company exceeded expectations on organic growth with 14.8% growth for the full year (vs. 8-12% 2023 guidance in constant currency), driven by a strong momentum in Q4 2023. All business lines delivered growth.

In 2023, EBITDA came in at DKK 118m (28% growth), just below the guided range of DKK 119-139m. However, the margin was 7.6%, within the guided range (guidance of 7.4%–9.0%). One of the most important KPIs in a consultancy business, efficiency, improved to 67% in 2023 vs. 63% in 2022. Although Q4 is seasonally strong, the margin improved to 9.6% in Q4 2023 (up from 8.1% in Q4 2022).

Cash flow from operations showed a positive development with DKK 77m (up from DKK 27.4m in 2022). This corresponds to a cash conversion to EBITDA of 65% (30% in 2022).

With 2024 being the first full year in the new strategy period, 'New Heights', running until 2026, the first guidance year will always be important to investors. In 2024, the company guides organic revenue growth in the range of 8-10%. The company indicates that there is still some reluctance in IT investments on the customer side due to general macroeconomic uncertainties. However, the management also stated on the teleconference that they have not seen any slowdown in the business in the first months of 2024. Looking at the EBITDA margin, Columbus expects a solid improvement, as the EBITDA margin is expected to rise to 9-10% (up from 7.6% in 2023). 

Next week on Wednesday, 20 March 2024 at 10:15, we will host a virtual live event with Columbus’ CEO & President Søren Krogh Knudsen and Group CFO Brian Iversen. The management will present the 2023 results and new 2024 guidance. Sign up for the virtual live event and ask your questions here: https://www.inderes.dk/videos/columbus-presentation-of-annual-report-2023

Disclaimer: HC Andersen Capital receives payment from Columbus for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 14:50, 13 March 2024. 

 

Login required

This content is only available for logged in users

Create account

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. The company serves more than 1,100 customers worldwide.

Read more on company page
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.