Danish business consultancy Columbus A/S reported a return to organic growth in the second quarter of 2026, posting a 2% increase after five consecutive quarters of negative growth that began in early 2024. The company’s EBITDA margin held steady at 4% year-over-year, remaining below its full-year target range of 8% to 10% despite improvements in operational efficiency.
Revenue growth was uneven across business lines and regions. Dynamics saw a modest 1% increase, while the Infor M3 segment declined 3%. The Data & AI unit continued its strong performance, expanding 40% in Q2 and 31% in the first half of 2026. Geographically, Norway’s Dynamics Norway unit led growth with a 52% increase, while the United Kingdom reported flat growth in reported terms but positive performance in local currency. Sweden and Denmark remained weak, with continued negative growth.
Operational metrics improved, with billability—a key efficiency measure—rising to 65% from the prior-year quarter. Gross profit margin for the last twelve months stood at 89%, reflecting the company’s shift toward fixed-price and outcome-based contracts. Management highlighted enhanced delivery speed and reduced write-offs, with consultants now up to ten times more productive than 12 to 18 months ago.
Full-year 2026 guidance remained unchanged, with Columbus targeting organic revenue growth of 0% to 5% and an EBITDA margin of 8% to 10%. The company’s share price edged up 0.4% to $9.92, within a 52-week range of $9.26 to $10.50. Valuation metrics included a P/E ratio of 210 and an EV/EBITDA multiple of 27, according to real-time data.
CEO Søren Krogh Knudsen noted the revenue rebound as a meaningful inflection point, while CFO Brian Iversen emphasized the relative ease of achieving profitability in a growth environment compared with periods of decline. The company also acknowledged rising customer interest in AI-related advisory services, though token costs remain a secondary financial consideration at present.
