Q2 2024 Columbus A/S Earnings Call Transcript
Key Points
- Columbus A/S (OCSE:COLUM) delivered a 9% growth in Q2 2024, amounting to DKK427 million.
- Strong performance from Cloud ERP business lines, Dynamics and M3, which make up around 75% of the total business.
- Recurring revenue increased by 13%, mainly due to the acquisition of Endless Gain last year.
- Cash flow from operating activities remained positive at DKK16 million, marking an increase of DKK12 million.
- New partnerships and extended agreements, such as with Schur and FedEx, underscore Columbus A/S's commitment to long-term client relationships.
- Security and digital commerce business lines did not meet expectations and experienced a decline in Q2.
- Profit before tax declined by DKK5.7 million due to extraordinary adjustments related to the acquisition of ICY Security.
- Efficiency declined from 66% last year to 63% this year, primarily due to setbacks in security and digital commerce.
- The overall business line contribution was slightly below expectations, driven mainly by underperformance in Security and Digital Commerce.
- Sweden experienced a negative development of 9%, with significant declines in Digital Commerce and Dynamics.
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Good afternoon, everyone. Thank you for joining today's webcast. Yeah, as the operator just said, my name is Søren Krogh Knudsen, and I'm the CEO and President of Columbus, and I'm accompanied by Brian Iversen, our Group CFO.
And at today's call, I will be covering the financial and operational highlights for Q2 first, then Brian will cover the financial performance for Q2 and in a little bit more detail and guidance for the rest of the year and for the full year. We will then end the presentation with a short Q&A session.
So let's go to slide 4 to begin the presentation. The financial highlights for the second quarter of 2024. So Columbus delivered a 9% growth this quarter, that amounts to DKK427 million. And the growth is primarily driven by a very robust performance in the majority of the business. And in particular, we see strong performance from our Cloud ERP business lines, the ones that we call Dynamics and M3, which combined make up
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