Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Increased revenues at Columbus IT

Posted by fidest press agency su giovedì, 18 agosto 2011

Gefion fountain, Copenhagen

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Copenhagen. Despite an increase in revenues of 3 % to DKK 455.4 million for the first six-month period of 2011 compared to 2010’s first six-month period revenues of DKK 441.8 million, the overall result for Columbus IT has dropped for the first six-month period of 2011. The result before depreciation and amortisation (EBITDA) has decreased from DKK 16.1 million in the first six-month period of 2010 to DKK 8.2 million in the first six-month period of 2011, caused by the restructuring in France, which is taking longer than expected. As a consequence, Columbus IT has revised its 2011 result forecast to DKK 40 million, while maintaining the DKK 930 million revenues forecast.
In the first six months of 2011, Columbus IT made progress in Western Europe, Eastern Europe and the USA. Every country in Western Europe reports significant bottom-line progress. Revenues in Western Europe have increased by 10 % compared to the first six-month period of 2010 – from DKK 80.7 million in the first six-month period of 2010 to DKK 89.1 million in the first six-month period of 2011, and EBITDA has increased by 286 %, from DKK 2.1 million in the first six-month period of 2010 to DKK 6.0 million in the first six-month period of 2011.
Revenues in Eastern Europe have increased by 12 %, from DKK 80.8 million in the first six-month period of 2010 to DKK 90.4 million in the first six-month period of 2011. EBITDA for the period has increased by 308% from DKK 1.2 million in the first six-month period of 2010 to DKK 4.9 million in the first six-month period of 2011. The Lithuanian company has experienced positive progress in 2011 compared to a loss in 2010, and the Russian company has also significantly boosted growth in Eastern Europe.
Revenues in North America have increased by 6 %, from DKK 57.7 million in the first six-month period of 2010 to DKK 61.2 million in the first six-month period of 2011. EBITDA for the period has dropped by 56 % from DKK 5.7 million in the first six-month period of 2010 to DKK 2.5 million in the first six-month period of 2011. Investments in new staff, increased marketing activities related to the new strategic initiatives and increased loss on debts have all contributed to the decrease in EBITDA.
Revenues in the Nordic countries dropped by 5 %, from DKK 204.7 million in the first six-month period of 2010 to DKK 195.2 million in the first six-month period of 2011. EBITDA for the period has decreased by 10 % from DKK 15.7 million in the first six-month period of 2010 to DKK 14.2 million in the first six-month period of 2011. The drop in revenues was due to loss of market share in the Danish NAV business, however, to some degree this has been counterbalanced by progress in the Norwegian company. http://www.columbusit.com

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