Total revenue reached EUR 491 million, while EBITDA increased 25,0% to EUR 134 million.
All business areas demonstrated strong growth
Visma began 2021 with an updated structure including four key business areas, all of which saw strong growth compared to Q1 of 2020. Visma Nordics grew by 14,4%; Visma Benelux by an impressive 29,6%; Visma Custom Solutions by 15,0%; and Visma’s geographical expansion areas by 60,2%. These areas include Central and Eastern Europe as well as Latin America.
Visma achieved an Annualised Repeatable Revenue of EUR 1 448 million, a growth of 20% compared to one year ago. Visma also generated a new high of 18 million monthly invoices across its software portfolio in Q1.
Visma now serves over 1 050 000 customers and saw growth of 38,1% in cloud customer contracts compared to one year ago. Revenues from cloud subscriptions and transactions continue to be Visma’s primary growth driver, increasing 33,4% year over year to EUR 256 million.
Strong acquisition activity
Visma welcomed 8 new companies to the Visma family in Q1. In Finland, Visma was joined by digital signature specialist Signom. In Norway, Visma acquired the leading content-as-a-service provider Sticos. In Denmark, Visma welcomed the consulting and talent business IT Minds, digital booking specialist Temponizer, and time planning company TimeMsystem. The real estate software vertical was expanded with the acquisition of Webtop.
In the Netherlands, Visma acquired cloud logistics and wholesale solution provider Brincr, as well as order-to-cash provider Outstanding 24.