Visma had a successful year with strong revenue growth and a sharp increase in cloud revenue, exemplifying the focus and growth of cloud computing within the Visma organisation. The fourth quarter saw excellent top-line revenue and continued profit growth.
Continued revenue growth
Revenues in each of Visma's three largest divisions (representing more than 95 percent of EBITDA) grew more than 20 percent year-on-year. The SMB division increased revenues by 23 percent, the Enterprise division grew by an impressive 72 percent (with the addition of Bluegarden) and Custom Solutions achieved 32 percent growth compared to the fourth quarter one year ago. SaaS and SaaS transactions continue to be the strongest drivers of organic growth.
Increased revenue and focus on cloud computing
At the end of Q4, revenue from cloud computing saw an annualised run rate exceeding NOK 6,400 million, an increase of 63 percent (including the effects of Bluegarden). Also, SaaS customer contracts grew by 30.1 percent year-on-year. Out of 750.000 customer contracts in Visma, 500,000 are now for SaaS products.
- The demand for Saas services is steadily increasing, and we continue to invest considerably in this area. We are continuously launching new SaaS products, and we are in the process of moving all our activities to a cloud model, said Øystein Moan, CEO of Visma.
Strategic cloud acquisitions
Visma continues its high tempo acquisitions activity in the SaaS segment, completing 18 acquisitions for the full year. During the quarter, Visma made three Saas acquisitions: OCTO3 in Finland (leading edge software developer), e-identitet in Sweden (cloud authentication services) and Admincontrol in Norway (leading Nordic provider of secure boardroom information portals).
For more information, please contact:
Øystein Moan, CEO, Visma AS, +47 920 80 000