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Visma continues strong growth with 26% increase in Q3 revenue and record acquisition pace

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Visma continues strong growth with 26% increase in Q3 revenue and record acquisition pace

Total revenue grew 25,5% to reach NOK 4 626 million, while EBITDA increased 37,7% to NOK 1 557 million.

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All divisions deliver strong Q3

With customers continuing to demand mission-critical cloud software, all four of Visma’s core divisions delivered strong growth in Q3 compared to one year ago. Software Nordic & International grew revenue by 24,5%, Software Benelux by 25,1%, Custom Solutions by 30,4%, and Commerce Solutions by 27,4%.


Continued cloud growth

Visma’s Cloud Annualised revenue, a forward-looking indicator of future cloud revenue, reached NOK 15,1 billion year on year in Q3, an increase of 34,6%. This was due to organic growth as well as a strong acquisition pace.

Visma has now eclipsed 1,1 million customer contracts. 880 000 of these are cloud contracts, an increase of 25,8% over one year ago. The demand for modern cloud solutions has increased over the course of the pandemic as more and more customers see the benefit of accessing their software from anywhere.


Eight new acquisitions

Visma had eight new acquisitions in Q3, bringing the total to 23 through Q3. Among the most notable were two new acquisitions in the Netherlands, SaaS accounting providers Yuki and Cash Software. Together with several other units in the Netherlands, they have formed an ecosystem of complementary cloud solutions for accounting offices in the region.

Visma is also increasing its focus on the real estate segment in Norway, having acquired three companies within this vertical during the quarter.

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Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 13,600 employees, 1,100,000 private and public sector customers across the Nordics, Benelux, Central and Eastern Europe and Latin America, and net revenue of €1,741 million in 2020, we are committed to making tomorrow better than today. Visit us at visma.com.

Press contacts

Aase Settevik

Aase Settevik

Press contact Director of Brand & Communication +47 920 49 559

Shaping the future of society through technology

Visma is a leading provider of mission-critical business software for a more efficient and resilient society. By simplifying and automating the work of companies and organisations of all sizes, we improve people's everyday lives. With 13,500 employees, 1,400,000 private and public sector customers across Europe and Latin America, and net revenue of € 2,081 million in 2021, we are committed to making tomorrow better than today. Visit us at visma.com.

Visma
Karenslyst Allé 56
0277 Oslo
Norway