Columbus (COLUM) investor relations material

Executive summary

• Q1 2026 revenue declined by 4% year-over-year to DKK 418m, mainly due to challenging market conditions in Denmark and Sweden, while Norway showed strong recovery and the US and UK showed signs of improvement.

• EBITDA dropped 43% year-over-year to DKK 26m (margin 6.3%), reflecting weaker revenue and lower operational efficiency.

• Efficiency KPI remained stable at 62%, matching Q1 2025, with gradual improvement through the quarter and into April.

• Data & AI business line delivered strong 23% growth year-over-year, driven by successful customer engagement events, workshops, and new hires.

• Strategic focus remained on execution quality, cost discipline, and strengthening core business areas, notably Dynamics 365 and Data & AI.

Financial highlights

• Q1 2026 revenue was DKK 418m, down from DKK 434m in Q1 2025, with a minor negative currency effect.

• EBITDA was DKK 26m (margin 6.3%), down from DKK 46m (margin 10.7%) in Q1 2025.

• Contribution margin for Dynamics 365 dropped 21 percentage points to 22%; M3 at 22%, Digital Commerce at 12%, Data & AI at 4%, EIM at 52%.

• Profit before tax was DKK 13m, down from DKK 32m year-over-year.

• Cash flow from operating activities was negative at DKK -4m, compared to DKK 17m in Q1 2025.

Outlook and guidance

• Full-year 2026 guidance maintained: organic revenue growth of 0-5% and EBITDA margin of 8-10%.

• Management confident in margin recovery due to improved efficiency and phasing out subcontractors.

• Strong order backlog and improving demand expected to support higher activity levels for the remainder of 2026.

• Long-term ambitions of 10% revenue growth and 15% EBITDA margin remain, with strategy review ongoing and new strategy expected in November 2026.

• 85% of annual revenue typically comes from existing customers, providing high visibility.