Columbus IT increases turnover and earnings in first half-year 2010

The Nordic region, Western Europe and the USA are all areas in which Columbus IT has achieved growth in the first 6 months of 2010. Only Eastern Europe has shown a slight decline. For the period as a whole, the management expresses satisfaction with the company’s result of DKK 5.4 million, compared to minus DKK 4.4 million last year. For the year as a whole, Columbus IT expects a turnover of about DKK 890 million and EBITDA of DKK 50-55 million.

Columbus IT, Danish owned and listed on the stock exchange, is pleased to announce a satisfactory first half-year result.

“An improvement in operating income of 23.1 per cent and a positive result of DKK 5.4 million, compared to minus DKK 4.4 million last year, are the key figures which clearly show that Columbus IT is essentially in good shape. Our total turnover of DKK 441.8 million bears witness to significant advancement and this, combined with a very promising pipeline, means that the first six months of 2010 have been quite satisfactory. We are maintaining our positive expectations for the year as a whole,” says Columbus IT’s CEO Claus E. Hansen.

Columbus IT has shown growth in Western Europe and especially in the UK and Norway the company has achieved impressive results. It is also pleasing to note its considerable success on the American market in terms of both turnover and results.

Eastern Europe is among the few markets to have proved challenging in the first halfyear.

Turnover in Eastern Europe totalled DKK 80.6 million in the first half-year of 2010, compared to DKK 87.3 million in the same period of 2009. In Eastern Europe, Columbus IT had a positive EBITDA for the period of DKK 1.2 million.

“Columbus IT’s focus on vertical solutions for companies in the retail, foodstuff and production industries gives large-scale operational advantages, as we only have to invest once in solution development, after which we can roll it out in many markets. We sow once, but reap again and again. Customers are increasingly demanding global, industry-specific solutions that do not require special modification – and this is what Columbus IT is able to provide. In this way, Columbus IT will come to define the industry standard within the selected verticals on which we are focusing,” says Columbus IT’s CEO Claus E. Hansen.

The first half-year of 2010 has also seen a takeover bid for Columbus IT.

“We take a positive view of the fact that Columbus IT is considered such an attractive company that bids are being made for us. The board of directors decided to reject the bid to acquire the company and given our very clear strategy regarding the further development of Columbus IT, the focus throughout the organisation is firmly on continued growth and increased profitability. We have noted growing demand for our industry-specific solutions,” CEO Claus E. Hansen adds.

As the first half-year came to a close, Microsoft granted Columbus IT due recognition by re-electing the company to two of the biggest and most prestigious forums: ‘Microsoft Inner Circle’ and ‘President’s Club’. At the same time, Columbus IT’s subsidiary company, the industrial and competency centre To-Increase, was named Global Microsoft ISV Partner of the Year.

“The staggering number of honours accorded to us by Microsoft cements Columbus IT’s position as one of the leading Microsoft partners in the world. I see these honours as an expression of the fact that Microsoft backs the course and strategy that Columbus IT has chosen to pursue, and with Microsoft’s choice of Columbus IT as a permanent partner in the retail sector in Europe our ties have become even closer,” Columbus IT’s CEO Claus E. Hansen concludes.

Source: Columbus IT

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