Company announcement no. 69/2026
Improved profitability in Q3
Columbus recorded another quarter of improving business activity in Q3 2026. Revenue amounted to DKK 367m, corresponding to 6% growth, while adjusted EBITDA reached DKK 38m, corresponding to an adjusted EBITDA margin of 10.3%. The improved profitability was supported by an increase in our efficiency rate to 62%, compared with 58% in Q3 last year. This was a satisfactory performance for the quarter.
Columbus reported revenue of DKK 367m in Q3 2026, an increase of 6% compared to Q3 2025. Currency effects had a minor positive impact on revenue during the quarter. YTD 2026 revenue increased by 1% compared to YTD 2025.
EBITDA adjusted for other operating income and expenses amounted to DKK 38m, corresponding to a margin of 10.3%, up from 6.9% in Q3 2025. YTD 2026, EBITDA adjusted for other operating income and expenses amounted to DKK 81m, corresponding to an EBITDA margin of 6.7%, down 0.7 percentage points compared to YTD 2025. Earnings were below expectations, after a challenging start in the first half of 2026.
"Q3 showed continued improvement in activity resulting in strong revenue growth and uptake in profitability. While we are satisfied with the development in the quarter, our priority remains clear: to improve profitability and ensure that growth creates greater value", says CEO & President, Søren Krogh Knudsen
Q3 2026 highlights
- Revenue increased by 6% to DKK 367m
- EBITDA adjusted for other operating income and expenses amounted to DKK 38m, compared to DKK 24m in Q3 2025.
- EBITDA margin adjusted for other operating income and expenses was 10.3%, up from 6.9% in Q3 2025.
- Efficiency increased to 62% in Q3 2026 from 58% in same period last year.
- Cash flow from operating activities amounted to DKK 55m, compared to DKK 7m in Q3 2025, primarily driven by changes in working capital.
YTD 2026 highlights
- Revenue increased by 1% to DKK 1,205m.
- EBITDA adjusted for other operating income and expenses amounted to DKK 81m compared to DKK 89m YTD 2025.
- EBITDA margin adjusted for other operating income and expenses was 6.7% compared to 7.4% YTD 2025.
- Efficiency increased to 63% YTD 2026, up from 61% compared to YTD 2025.
- Cash flow from operating activities was DKK 14m compared to DKK 42m YTD 2025 driven by changes in working capital.
Service revenue split by Business Lines
| DKK '000 | Q3 2026 | Q3 2025 | ?% | YTD 2026 | YTD 2025 | ?% |
| Dynamics 365 | 211,823 | 195,969 | 8% | 681,925 | 682,758 | 0% |
| M3 | 70,795 | 71,672 | -1% | 235,553 | 240,258 | -2% |
| Digital Commerce | 34,323 | 37,867 | -9% | 120,595 | 132,026 | -9% |
| Data & AI | 24,010 | 18,867 | 27% | 84,303 | 64,868 | 30% |
| EIM | 7,639 | 4,769 | 60% | 21,741 | 15,513 | 40% |
| Total sale of services | 348,590 | 329,144 | 6% | 1,144,117 | 1,135,423 | 1% |
| Total sale of products | 18,576 | 18,000 | 3% | 60,855 | 55,563 | 10% |
| Total net revenue | 367,166 | 347,144 | 6% | 1,204,972 | 1,190,986 | 1% |
Service revenue split by Market Units
| DKK '000 | Q3 2026 | Q3 2025 | ?% | YTD 2026 | YTD 2025 | ?% |
| Sweden | 96,656 | 99,235 | -3% | 341,512 | 364,469 | -6% |
| Denmark | 73,476 | 80,892 | -9% | 243,513 | 277,325 | -12% |
| UK | 78,464 | 77,519 | 1% | 237,048 | 245,203 | -3% |
| Norway | 59,926 | 38,930 | 54% | 203,249 | 142,418 | 43% |
| US | 27,697 | 22,239 | 25% | 82,321 | 77,946 | 6% |
| Other | 11,737 | 10,006 | 17% | 34,860 | 27,228 | 28% |
| GDC | 634 | 323 | 96% | 1,614 | 834 | 94% |
| Total sale of services | 348,590 | 329,144 | 6% | 1,144,117 | 1,135,423 | 1% |
| Total sale of products | 18,576 | 18,000 | 3% | 60,855 | 55,563 | 10% |
| Total net revenue | 367,166 | 347,144 | 6% | 1,204,972 | 1,190,986 | 1% |
Outlook for 2026
Following low activity in the first half of 2026 and a major restructuring completed in Q3 2026, we revised our full-year outlook as announced in Company release no. 65/2026 on 22 October 2026. We now expect:
- Organic revenue growth to be in the range of 2-3%
- EBITDA margin to be approximately 6%.
Live webcast and conference call at 13:00 CET on 5 November
Columbus is hosting a live webcast and conference call on 5 November 2026 at 13:00 CET. CEO & President Søren Krogh Knudsen and CFO Brian Iversen will present the Q3 2026 results and the new strategy; ASTRA 29, which was announced earlier today in company release no. 68/2026.
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 |
