Q1 / 2008
Q1 / 2008
May 8, 2008 at 11:44 AM CEST
Organic growth results in increase in revenues of 18% and increase in EBITDA of 124% com-pared to Q1 2007 • Columbus IT's revenues for Q1/2008 totaled DKK 219M (DKK 185M in Q1/2007), corresponding to an increase of 18%. • Earnings before depreciation (EBITDA) for the period totaled DKK 8.2M (DKK 3.6M in Q1/2007) cor-responding to an increase of 124% compared to Q1/2007. The result is in line with the Management's expectations. • Revenues in the Danish subsidiary amounted to DKK 64.6M in Q1/2008 (DKK 53.0M in Q1/2007), corresponding to an increase of 22%. EBITDA for the period totaled DKK 3.9M, which is an increase of 64% compared to Q1/2007. • Revenues in the subsidiary in the US amounted to DKK 28.0M in Q1/2008 (DKK 28.5M in Q1/2007). Adjusted for foreign currency translation revenues grew by 13%. EBITDA for the period totaled DKK 3.7M (DKK 3.3M in Q1/2007). Adjusted for foreign currency translation EBITDA grew by 30%. • Revenues in the Russian subsidiary amounted to DKK 31.2M in Q1/2008 (DKK 19.9M in Q1/2007), corresponding to an increase of 57%. EBITDA totaled only DKK 1.8M in Q1/2008 compared to DKK 2.6M in Q1/2007. The decline in EBITDA is caused by costs following a growth in staff of 38 com-pared to same period last year. • The Group's software development company, To-Increase B.V., had revenues of DKK 6.3M in Q1/2008 to other Microsoft resellers (DKK 7.1M in Q1/2007). EBITDA amounted to DKK 1.2M in Q1/2008 (DKK 2.9M in Q1/2007). The decrease is due partly to decline in sales and partly due to in-vestments in the company's presales force. • The result before tax amounted to DKK 1.2M for Q1/2008 (DKK -1.6M in Q1/2007). • Total equity at the end of Q1/2008 amounted to DKK 224.5M (DKK 209.6M in Q1/2007), resulting in a solvency ratio of 41.2% (42.1% in 2007). • Previously announced expectations for 2008 are being maintained, with total Group revenues on the level of DKK 1,000M and an EBITDA of DKK 60-65M. Ib Kunøe Michael Gaardboe Chairman CEO Columbus IT Partner A/S Columbus IT Partner A/S For further information, please contact: CEO Michael Gaardboe, 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.