Interim Management Statement Q3 2010
Interim Management Statement Q3 2010
November 11, 2010 at 10:08 AM CET
Progress in the third Quarter In accordance with the regulations for listed companies' submission of interim statements, Columbus IT Partner A/S hereby submits the interim management statement for the period 01.01.2010 to 30.09.2010 (9 months). Revenues in Q3 totaled DKK 608.3 mill. and EBITDA totaled DKK 18.1 mill. In September 2009 Columbus IT concluded an agreement regarding the sale of its Retail industry solution, RCM, to Microsoft with revenue of DKK 12 mill. Adjusted for this revenue the Company has experienced an increase in EBITDA of DKK 8.8 mill. compared to the same period last year, corresponding to an increase of 95%. This increase is primarily a result of the continued focus on vertical solutions to specific retail-, food-, and industrial equipment manufacturing (IEM) companies as well as a concentrated focus on reduction of the Company´s costs. Compared to the same period last year, the Company has experienced considerable progress in revenue in the US, UK, Norway and Russia. Especially the US Company continues the positive development and growth is realized along with large cost savings. Columbus IT Partner A/S' previously announced guidance for 2010 is being maintained. For 2010 Columbus IT expects revenues in the level of DKK 890M and EBITDA of DKK 50-55M. Ib Kunøe Claus Hansen Chairman CEO Columbus IT Partner A/S Columbus IT Partner A/S For further information, please contact: CEO Claus Hansen, 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.