contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


columbus-growth-challenged-but-sequential-margin-improvement

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Equities

Michael Friis

Columbus är ett internationellt konsultbolag med huvudkontor i Danmark. Bolaget har lokal närvaro i Norden, Storbritannien och USA och levererar digitala lösningar globalt. Lösningarna stöder affärskritiska processer inom branscher som tillverkning, detaljhandel, livsmedel och dryck samt life science. Tjänsterna omfattar moln, data och AI, ERP, CRM, digital handel och cybersäkerhet.

Columbus

Columbus has released preliminary 2025 results with revenue of DKK 1,576m (-5%) and EBITDA margin of 7.2% (2024: 9.2%), both at the lower end of guidance. Adjusted for one-offs, underlying margin improved to 7.9% (2024: 7.4%). Long-term "New Heights" targets postponed beyond 2026.

This morning, Columbus released its preliminary unaudited financial results for 2025. Based on these figures, we calculate Q4 2025 standalone revenue of DKK 385m (compared to DKK 416m in Q4 2024), representing a decline of -7.5%. EBITDA for Q4 2025 amounted to approx. DKK 35m, corresponding to an EBITDA margin of 9.2% (compared to 9.1% in Q4 2024). Notably, Q4 showed a sequential improvement of +2.3pp compared to the adjusted Q3 2025 margin of 6.9%, indicating that the rightsizing initiatives are gaining traction.
For the full year 2025, revenue came in at DKK 1,576m, a decline of -5% compared to 2024 (DKK 1,659m), and below the guidance of &quot;in line with 2024&quot; (~DKK 1.7bn). The reported EBITDA margin landed at 7.2% (2024: 9.2%), at the lower end of the 7&#x2013;9% guidance range.
It is important to note that both years were impacted by significant one-off items. 2024 benefited from positive one-offs of approx. DKK 30m, including the M3CS legal settlement and unachieved earn-out, which inflated the reported margin. Conversely, 2025 was burdened by negative one-offs of approx. DKK 10m related to redundancy costs and strategic review expenses. Adjusted for these items, the underlying EBITDA margin improved to 7.9% (2024: 7.4%), representing a +0.5pp improvement in the underlying business despite the revenue headwinds.
A key announcement concerns Columbus&apos; &quot;New Heights&quot; strategy. The company confirmed that its long-term financial ambitions of 10% annual revenue growth and 15% EBITDA margin will not be achieved by the end of 2026, marking the end of the current strategy period. The timing of these targets is now under review. As market growth has continued to be lower than when the &quot;New Heights&quot; strategy was announced, and looking at the 2025 results, the postponement of the timeline for the targets might not come as a big surprise to markets.
Management expects Columbus to return to revenue growth and deliver an improved EBITDA margin in 2026. This is backed by early signs of improving customer activity and new project wins from both existing and new customers in Q4 2025, although these were not sufficient to fully offset project postponements during the quarter. Financial guidance for 2026 will be announced with the Annual Report on 12 March 2026.
Disclaimer: HC Andersen Capital receives payment from Columbus for a Digital IR subscription agreement. /Michael Friis, 14:18 - 27 January 2026.