COPENHAGEN, Nov. 11, 2002 (PRIMEZONE) -- Columbus IT Partner has become more efficient. The targeted work with reconstructing the company to adapt to the new market terms has succeeded. Despite the fact that the number of employees within the last year has been reduced by almost 20 percent from 1,033 to 842, net sales have been maintained.
- In the 1st-3rd quarters 2002 net sales amounted to DKK 457 million. Sales of Axapta-based solutions were DKK 268 million, equaling an increase of approx. 42 percent compared with the same period last year. - EBITDA made up DKK 19 million corresponding to an increase of DKK 68 million compared with the same period in 2001. - Staff costs and other external costs in the 1st-3rd quarters have been brought down by DKK 45 million compared with the same period last year. - Over the last three months, receivables have been reduced and the number of debtor days have consequently been brought down from 72 on 30 June 2002 to 60 on 30 September 2002. - Due to insecurities in the weak market, the expectations in Q4 for net sales are lowered. However, a positive EBITDA is still expected. So net sales of approx. DKK 600 million for the year are expected and an EBITDA in the level of DKK 20 million. Niels Heering Carsten Dilling, Chairman of the Board Chief Executive Officer Columbus IT Partner A/S Columbus IT Partner A/S
The entire 12-page earnings report, including the financial tables, can be found at the following link: http://reports.huginonline.com/881105/110256.pdf
For more information, please contact Carsten Dilling, CEO, or Jan Bitterhoff, Head of Investor Relations, tel: 45 70 20 50 00.