Visma had another strong quarter with excellent top-line revenue and continued profit growth. Total revenue growth was 26.1% while EBITDA grew strongly as well by 23.5% over Q2 2017 to reach NOK 577 million.
Revenues in each of Visma's four largest divisions (representing over 98% of EBITDA) grew well in excess of 20% year-on-year. The SMB Division grew revenues by 21%, Enterprise grew by an impressive 42%, Custom Solutions achieved 39% growth, and Commerce Solutions grew 25% compared to the second quarter a year ago.
Increased cloud revenue
Saas and Saas transactions continue to be the strongest driver of organic growth in Visma and cloud annualized revenue grew by 59% to reach NOK 6 882m.
Five new high-growth acquisitions
Visma continues its proactive and high tempo acquisitions activity completing five acquisitions for the quarter. Visma acquired two fast growing pure Saas companies in SmartDok (a leading time-tracking, WFM solution for the Norwegian construction sector) and Tampuuri (the leading Finnish real estate management software). In addition, the Custom Solutions division acquired the leading Danish Bl consulting company, Kapacity, and the Finnish leading edge Al company Weoptit. The fifth company was the Swedish e-commerce company Wikinggruppen, who develops solutions on its own IP platform.
- These companies fit well with the Visma eco-system. They are valuable additions to Visma’s portfolio, says Øystein Moan, CEO in Visma.
For more information, please contact:
Øystein Moan, CEO, Visma AS, +47 920 80 000