BALLERUP, March 29, 2011 (GLOBE NEWSWIRE) -- In 2010, Columbus IT continued to execute the company's strategy, which focuses on three clearly defined industries: retail, food and manufacturing. The strategy positions Columbus IT as the most innovative and leading supplier of business solutions to these three industries.
"In 2010, the market remained cautious due to the global economic situation; therefore, we have maintained a stringent focus on optimising the company's business operations. But this was also a year in which Columbus IT took a number of strategically important leaps. Seen in this light, the annual results are satisfactory; Columbus IT emerges from 2010 as a stronger, more focused and much more profitable company," says Columbus IT CEO Claus E. Hansen.
At the end of 2010, the group's balance sheet has improved significantly - Columbus IT has managed to replace an interest-bearing net debt of DKK 4.2m with a balance of DKK 52.4m. Thus, the company is well positioned for further investments in the realisation of the company's strategy and continued expansion.
"In the second half of 2010, Columbus IT saw the value of our clear focus on the three industries and particularly in the retail sector we have managed to position our business and solutions, winning strategically important retail customers worldwide. We have chosen to focus on three industries in which Columbus IT was already strong, and which offer considerable market potential," says Columbus IT CEO Claus E. Hansen.
Progress in strategically important markets
Particularly in the key growth markets, the UK and US, Columbus IT generated significant growth in 2010. In the UK, revenue increased by 42% and in the US revenue increased by 18% to DKK 112.5m.
"The UK and US are at the core of our focused industry strategy and a major part of Columbus IT's expertise and deep insight into the three industries stems from experience with global projects in these countries. At the same time, the market and the need for Columbus IT's three industry solution sets are particularly mature in these two countries. The next version of our industry-specific solution, targeting the manufacturing industry, will be deployed in all countries at the end of Q3 in 2011, supported by a global manufacturing competence centre. The roll out will begin in the US and progress east and will - in conjunction with the retail and food solutions - comprise the driving force behind Columbus IT's continued growth in the coming years," says Columbus IT CEO Claus E. Hansen.
Earnings before depreciation (EBITDA) amounted to DKK 50.1m, compared to DKK 35.4m in 2009, representing a 42% increase. Adjusted for currency exchange rates and the sale of the industry solution to Microsoft in 2009, EBITDA rose by 75%. The earnings are in line with previously announced expectations.
Further growth in 2011
In 2011, Columbus IT will continue to execute the company's strategy for increasing growth and profitability in the long term. The projects and initiatives launched in the autumn of 2010 will be intensified in 2011, which will entail significant costs for the group. The plan in 2011 is to spend approx. DKK 20m on internal projects, of which approx. DKK 13m will impact operations in the form of increased costs. Thus, EBITDA in 2011 is expected to be DKK 55m, or 10% above 2010. Revenue is expected to be around DKK 930m.
The annual report can be downloaded from www.columbusit.com or by contacting CFO Hans Henrik Thrane at [email protected] or on (+45) 29 69 06 69.
About Columbus IT
Columbus IT operates as a software and service company in the market for integrated business solutions based on Microsoft Dynamics, primarily for the retail, food and manufacturing industries. Columbus IT is one of the leading Microsoft Dynamics consultancies, with more than 1,000 employees operating worldwide and a total customer base of more than 5,000 companies. Read more at www.columbusit.com.
For more information:
CEO Claus E. Hansen, Columbus IT
E-mail: [email protected]
Mobile: +45 29 69 06 66
