Q1 / 2007
Q1 / 2007
May 10, 2007 at 11:22 AM CEST
Growth in revenues and earnings - strong results in the three most important markets: the Danish, the American, and the Russian • Columbus IT's revenues for Q1/2007 amounted to DKK 190M (DKK 168M in 2006), corresponding to an increase of 13%. • Strong, profitable results were achieved in the Group's three most important markets: Denmark, United States of America, and Russia. • The American subsidiaries landed ten new customers in Q1/2007, amongst others in cooperation with Microsoft a contract with Dallas Cowboys, the third largest sports club in the USA. The revenue for Columbus on that contract is DKK 15M. The American subsidiaries are once again growing satisfactorily. • Revenues of the Russian subsidiary for Q1/2007 amounted to DKK 20M and EBITDA for the period amounted to DKK 2.6M. This is a strong improvement compared Q1/2006 and a continuation of the very positive development from second half of 2006. The Russian subsidiary is clear of its earlier crises and once again growing. • The Group's software development company, To-Increase, is growing satisfactorily and had revenues of DKK 7.1M in Q1/2007 and EBITDA for the period amounted to DKK 2.9M. • Strong growth in the Group's Dynamics NAV-related revenues, especially in Denmark. Compared to the same period last year, the Dynamics NAV-related revenues have increased by 55%, and comprised 25% of total revenues in Q1/2007. • Operating profit (EBITDA) for the period was DKK 3.1M (DKK -4.4m in 2006), which is in line with the management's expectations. • The result before taxes amounted to DKK -2.5M for Q1/2007 (DKK -8.4m in 2006). • Total equity at the end of Q1/2007 amounted to DKK 209.6M (DKK 160.3M in 2006), resulting in a solvency ratio of 42% (36% in 2006). • Previously announced expectations for 2007 are being maintained, with total Group revenues on the level of DKK 810-830M and an EBITDA of DKK 33-37M. Ib Kunøe Michael Gaardboe Chairman CEO Columbus IT Partner A/S Columbus IT Partner A/S For further information, please contact: CEO Michael Gaardboe or CFO Sven Madsen, 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.