One of Microsoft’s largest business applications partners has been forced to push out its growth ambitions after “market caution” dented its 2025 numbers.
Copenhagen-headquartered Columbus is a Microsoft Dynamics specialist with 1,500 staff and offices in Denmark, Sweden, Norway, UK, US, Germany, Poland, Czech Republic and Chile.
It ranked 117th in Oxygen 250 2026.
Under its ‘New Heights’ growth strategy unveiled in November 2023, Columbus aims to achieve 10% CAGR and an EBITDA margin of 15% by the end of 2026.
But its 2025 numbers went backwards, with preliminary results unveiled this morning showing revenue declining 5% to DKK 1.58bn (£184m) and EBITDA margin shrinking from 9.2% to 7.2%.
Columbus chalked this up to “market caution”, saying customers are “maintaining a more conservative investment approach”.
Although its ambitions outlined under New Heights “remain unchanged”, Columbus conceded it can no longer achieve its aims by the end of 2026.
“The timing of the ambitions is being reviewed as part of the ongoing strategy process,” it stated.
Columbus observed some “early signs of improving customers activity” in Q4 and expects to return to revenue and EBITDA margin growth in 2026.
The UK is Columbus’ third-largest operation behind Sweden and Denmark, generating 19% of its DKK 1.66bn 2024 revenues.
The Nasdaq Copenhagen-listed outfit generated some 96% of the total from services (mainly Dynamics), and 4% from product.
