Company announcement no. 35/2026
After a cautious start to the year, activity levels improved gradually throughout the first quarter, with a strengthening towards the end of Q1. Performance for the quarter was below expectations, with revenue decreasing by 4% and EBITDA of DKK 26m, corresponding to a margin of 6.3%. Entering Q2, activity levels have continued to improve, supported by a strengthened pipeline and solid order intake. While market conditions remain cautious, this provides a stronger foundation for converting gradually improving demand into profitable growth in Q2 and the coming quarters.
Columbus reported revenue of DKK 418m in Q1 2026, a decrease of 4% compared to Q1 2025. Currency effects had a minor negative impact on revenue during the quarter.
Market uncertainty persisted in Q1, impacting both activity levels and performance. EBITDA amounted to DKK 26m in Q1 2026, corresponding to a margin of 6.3%, down from 10.7% in Q1 2025. The earnings development was below expectations, primarily due to a slow start to the year.
"We are acting on what we can control. Execution is stronger, the pipeline has improved, and we are positioned to convert gradually improving demand into profitable growth in Q2", says CEO & President, Søren Krogh Knudsen
Performance highlights Q1 2026
- Revenue decreased by 4%, amounting to DKK 418m impacted by a slightly negative currency effect.
- EBITDA amounted to DKK 26m, compared to DKK 46m in Q1 2025.
- The EBITDA margin was 6.3%, compared to 10.7% in Q1 2025.
- Efficiency of 62% in Q1 2026, in line with Q1 2025, but still below expectations for the quarter.
- Cash flow from operating activities amounted to DKK -4m, compared to DKK 17m in Q1 2025, primarily driven by lower EBITDA and changes in working capital.
Service revenue split on Business Lines
| DKK '000 | Q1 2026 | Q1 2025 | ?% |
| Dynamics 365 | 233,695 | 253,059 | -8% |
| M3 | 83,888 | 84,814 | -1% |
| Digital Commerce | 42,923 | 47,242 | -9% |
| Data & AI | 29,413 | 23,950 | 23% |
| EIM | 6,682 | 4,958 | 35% |
| Total sale of services | 396,601 | 414,023 | -4% |
| Total sale of products | 21,446 | 19,932 | 8% |
| Total net revenue | 418,047 | 433,955 | -4% |
Service revenue split on Market Units
| DKK '000 | Q1 2026 | Q1 2025 | ?% |
| Sweden | 121,569 | 130,943 | -7% |
| Denmark | 87,318 | 102,318 | -15% |
| UK | 80,272 | 88,369 | -9% |
| Norway | 68,453 | 54,217 | 26% |
| US | 26,597 | 29,336 | -9% |
| Other | 12,149 | 8,575 | 42% |
| GDC | 243 | 265 | -8% |
| Total sale of services | 396,601 | 414,023 | -4% |
| Total sale of products | 21,446 | 19,932 | 8% |
| Total net revenue | 418,047 | 433,955 | -4% |
Outlook for 2026 maintained
Based on the development in the first quarter of 2026, our strong pipeline and order backlog, we maintain our full year financial expectations:
- Organic revenue growth is expected to be in the range of 0-5%
- EBITDA margin is expected to be in the range of 8-10%.
Live webcast and conference call
Columbus is hosting a live webcast and conference call on 7 May 2026 at 13:00 CET. CEO & President Søren Krogh Knudsen and CFO Brian Iversen will present and comment on the Group's financial and business performance.
To register for the webcast, which includes the option to ask questions in writing, please use this link
To register for the telephone conference, which includes the option to ask questions orally, please use this link
A recorded version of the presentation will be made available on-demand at Columbus Investor site as soon as possible after the event: https://ir.columbusglobal.com/
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 |
