Annual Report and Financial Statements 2008

March 23, 2009 at 11:37 AM CET
Another year with solid growth in both revenues and results

CEO, Claus Hansen:

"2008 was yet another good year for Columbus IT. Our expectations from the
beginning of the year to revenues as well as earnings have been fulfilled - and
that in a year with turbu-lence on the financial market, which increasingly
started affecting our most important foreign markets. Revenues grew to DKK 990M
in 2008, corresponding to an increase of 11% com-pared to 2007. EBITDA of the
Group increased to DKK 60.6m in 2008, corresponding to an increase of 19%
compared to 2007. In 2008 seven minor subsidiaries were sold off as part of the
Group strategy towards focus on larger units in Europe and the US, and entering
2009 we feel that Columbus IT is the best prepared of the industry's major
players to handle the fi-nancial turbulence”. 

•	Revenues in 2008 totaled DKK 990.6M (DKK 892.4m in 2007), corresponding to an
increase of 11%. This is in line with the announced expectations, cf. release
no. 1 of February 19th 2009. 

•	Earnings before depreciation (EBITDA) totaled DKK 60.6M in 2008 (DKK 51.0M in
2007), correspond-ing to an increase of 19% compared to 2007. The result is in
line with the announced expectations. 

•	Revenues in the Nordic region amounted to DKK 381M in 2008 (DKK 335M in
2007), corresponding to an increase of 14%. EBITDA for the period totaled DKK
45.0M (DKK 26.3M in 2007), which is an in-crease of 71% compared to 2007. 

•	Revenues in Western Europe amounted to DKK 214M in 2008 (DKK 211M in 2007).
EBITDA for the period totaled DKK 24.3M (DKK 22.1M in 2007), corresponding to
an increase of 10% compared to 2007. 

•	Revenues in Eastern Europe amounted to DKK 226M in 2008 (DKK 180M in 2007),
corresponding to an increase of 26%. EBITDA for the period totaled DKK 12.9M
(DKK 16.5M in 2007), corresponding to a decrease of 22%. 

•	Revenues in North and South America amounted to DKK 170M in 2008 (DKK 166M in
2007), corres-ponding to an increase of 2%. EBITDA for the period totaled DKK
13.6M (DKK 17.4M in 2007), cor-responding to a decrease of 22%. 	
 
•	The Group's software development company, To-Increase, had gross revenues of
DKK 42.4M in 2008 (DKK 39.9M in 2007), corresponding to an increase of 6%.
EBITDA for the period amounted to DKK 17.6M (DKK 16.4M in 2007), corresponding
to an increase of 7%. 

•	The result after tax, and after an extraordinary goodwill impairment amounted
to DKK 23.3M in 2008, which is an increase of DKK 17.6M compared to 2007,
corresponding to an increase of 309%. 

•	Total equity increased to DKK 244.1M (DKK 225.5M in 2007), resulting in a
solvency ratio of 43.6% (39.1% in 2007). 

•	Due to the uncertainty about the extent and duration of the current global
financial turbulence, expec-tations to 2009 are reflecting considerable
uncertainty. Group revenues from the sold-off subsidiaries in seven countries
with effect from December 1st 2008 amounted to DKK 69M, corresponding to 7% of
total revenues. Due to both the strengthened krone rate and the expected
macroeconomic recession on the Group's markets, revenues in the remaining
subsidiaries of the Group are expected to be below 2008 level. Consequently and
due to the general financial uncertainty, earnings for 2009 are expected to be
considerably below 2008 level. 

Ib Kunøe 				Claus Hansen
Chairman				CEO
Columbus IT Partner A/S		Columbus IT Partner A/S
For further information, please contact:
CEO Claus Hansen, or CFO Heine Thorsgaard, T: +45 70 20 50 00.

Translation: In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version. 

The Annual Report for 2008 is expected to be available at:
www.columbusit.com/2008 on April 17th, 2009 at the latest.