Visma delivers a strong first quarter with excellent top-line revenue and continued profit growth. Total revenue growth was 29.5 percent, while EBITDA grew by over 30.2 percent over Q1 2017 to reach NOK 608 million.
Revenues in Visma’s three largest divisions grew by more than 20 percent year-on-year. The SMB division increased revenues by 24 percent, the Enterprise division grew by an impressive 51% (with the addition of Bluegarden), and Custom Solutions achieved 46 percent growth compared to the first quarter one year ago.
Strong cloud revenue
SaaS and SaaS transactions continue to be the strongest drivers of organic growth in Visma, and cloud annualised revenue grew by 51 percent to reach 6,660 million.
–The demand for SaaS services is steadily increasing, and we continue to focus our investment and development in this area. We are pleased to see such an impressive growth in cloud revenue in the first quarter, said CEO Øystein Moan.
Two cloud acquisitions
Visma continues its proactive and high-tempo acquisitions, completing two cloud software companies during the quarter, OptiWay and Co3. Swedish provider of geographic IT services OptiWay strengthens Visma’s offering in an area of high demand. Danish Co3 is an e-commerce software and solutions provider.
For more information, please contact:
Øystein Moan, CEO, Visma AS, +47 920 80 000