Annual Report 2023

Company announcement no. 8/2024

2023 financial performance: Continued solid organic growth

Columbus’ revenue amounted to DKK 1,540m in 2023, corresponding to an increase of 11% and 15% adjusted for currency and acquisition. EBITDA increased by 28% to DKK 118m.

All major Business Lines contributed to the revenue growth, especially our strategic Business Lines Data & Analytics and Customer Experience & Engagement showed continued rapid growth, delivering 30% and 49% respectively. Columbus’ largest Business Line, Dynamics also continued the strong development in 2023 with 12% growth.

The Market Units in the UK and Denmark demonstrated strong progress in 2023, growing service revenue by 43% and 31% respectively. The largest Market Unit, Sweden, showed strong momentum in a market affected by a challenging economy, growing service revenue by 14% in constant currency. However, the Market Unit in Norway saw a more mixed picture during the year after a long period of strong growth, delivering a growth of 0.4% in constant currency.

“The strong underlying development in Q4 2023 is expected to continue in 2024. However, we closely monitor the external conditions as the geopolitical uncertainty quickly could affect the market development”.
Chairman of the Board, Ib Kunøe

“After three years of streamlining the company, Columbus is now ready to unfold the earnings potential and reach new heights. We have the organization in place to roll out the initiatives of the EBITDA15 program to improve profitability”.
CEO & President Søren Krogh Knudsen.

Performance highlights 2023

  • Revenue growth of 11% amounting to DKK 1,540m
  • EBITDA amounted to DKK 118m, corresponding to an increase of 28%
  • Recurring revenue amounted to DKK 205m, corresponding to an increase of 6%
  • Profit before tax amounted to DKK 39m, corresponding to an increase of 23%
  • Efficiency of 67%

Operational highlights 2023

  • Acquisition of ICY Security
  • Launch of new three-year strategy – “New Heights”
  • Entering the life science industry
  • Accelerated our sustainability efforts
  • Initiated a global AI Innovation Program

Service revenue split on Business Lines

DKK ´000 2023 2022 ∆%
Dynamics 778,901 693,988 12.2%
M3 301,472 303,231 -0.6%
Digital Commerce 195,418 192,262 1.6%
Data & Analytics 77,233 59,653 29.5%
Customer Experience & Engagement 67,248 45,179 48.8%
Security 29,538 0
Strategy & Change 8,389 6,513 28.8%
Other Local Business 16,857 16,216 4.0%
Total sale of services 1,475,056 1,317,042 12.0%
Total sale of products 64,899 72,392 -10.4%
Total net revenue 1,539,955 1,389,434 10.8%

Service revenue split on Market Units

DKK ´000 2023 2022 ∆%
Sweden 557,072 525,024 6.1%
Denmark 331,809 252,862 31.2%
Norway 234,391 262,271 -10.6%
UK 229,317 159,916 43.4%
US 82,608 80,284 2.9%
Other 35,531 32,337 9.9%
GDC 4,328 4,348 -0.5%
Total sale of services 1,475,056 1,317,042 12.0%
Total sale of products 64,899 72,392 -10.4%
Total net revenue 1,539,955 1,389,434 10.8%

Outlook for 2024
Based on the financial performance in 2023 and the current order book and pipeline forecast, our full year guidance for 2024 is as follows:

  Outlook 2024 Realized 2023 Outlook 2023
Organic revenue growth 8-10% 14.8% 8-12%
EBITDA margin 9-10% 7.6% 7.4-9.0%

Live webcast and conference call
Columbus is hosting a live webcast and conference call on 13 March 2024 at 13:00 CET. The webcast is hosted by CEO & President Søren Krogh Knudsen and Group 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:

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:

For further information, please contact:

  • Søren Krogh Knudsen, CEO & President, Tel.: +45 7020 5000
  • Tine Rasmussen, Communication Director, [email protected], Tel.: +45 2969 0677

About Columbus

Columbus is a global digital consultancy specialized in solving complex challenges for customers in the manufacturing, retail & distribution, food & beverage, and life science industries. With over 1,600 digital advisors in more than ten countries, we deliver business-critical solutions in areas such as CloudERP, Data & Analytics, Application Management, Digital Commerce, Cybersecurity, AI Innovation, and ESG. With headquarters in Denmark and presence worldwide, we ensure local delivery of our services on a global scale.


  • COLUMBUS-2023-12-31-en
  • Annual Report 2023

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