Columbus A/S, the Danish enterprise software consulting firm, reported a return to organic revenue growth in the second quarter of 2026 after five consecutive quarters of decline. The company’s Q2 revenue rose 2% year-over-year to 420 million Danish kroner, marking a rebound from a low of -8% in Q4 2025 and -4% in Q1 2026.
Total EBITDA increased 2% to 17 million DKK, though the EBITDA margin remained flat at 4.0%, well below the full-year target range of 8–10%. Operational efficiency improved, with billability rising to 65% from 63% in the same period last year. The company also reduced its workforce by 70 full-time equivalents year-over-year, from 1,492 to 1,422.
The strongest growth came from the Data & AI segment, which surged 40% to 31 million DKK, while the Dynamics 365 business line, the company’s largest, grew 1% to 236 million DKK. Contribution margins for Dynamics 365 slipped 1 percentage point to 20%. Digital Commerce revenue fell 8% to 43 million DKK, and M3 declined 3% to 81 million DKK, with its contribution margin dropping 8 percentage points to 13%.
Geographically, Norway led with a 52% revenue increase to 75 million DKK, while Denmark and Sweden both declined by 12% and 8%, respectively. The United States grew 6% to 28 million DKK, and other markets collectively rose 27% to 11 million DKK.
For the first half of 2026, Columbus reported a 1% decline in total revenue, with Norway again the standout performer at 38% growth to 143 million DKK. The Data & AI segment rose 31% to 60 million DKK, while Dynamics 365 and M3 both declined. The company maintained its full-year organic revenue growth guidance of 0–5% and kept its EBITDA margin target at 8–10%.
Columbus’s shares were up 0.4% at 9.92 DKK following the announcement, within a 52-week range of 9.26 to 10.50 DKK.
