Columbus (One-pager): Encouraging forward-looking signs in an otherwise weak Q3 2025
Market headwinds and prolonged customer decision processes continued to weigh on Q3 2025 results. However, beneath the surface, there were some encouraging forward-looking signs. The company maintained its guidance, indicating a return to healthy growth in Q4 2025, while contribution margins suggest that the weaker-than-expected profitability is primarily a topline and not a structural issue.
We have updated our investment case one-pager to reflect the latest developments, including revised peer group data.
For more details on the results, you can watch the management presentation of the Q3 2025 results here: https://www.inderes.dk/videos/columbus-presentation-of-interim-report-q3-2025
Disclaimer: HC Andersen Capital receives payment from Columbus for a Digital IR subscription agreement. /Michael Friis 12:45, 10/11-2025.