Visma achieved all-time high revenue of EUR 593 million in the third quarter of 2023, a growth of 15 percent compared to the same period last year. EBITDA was EUR 203 million, also a record level, and up 18 percent from Q3 22.
“It has been another eventful quarter for Visma, with continued growth and geographic expansion. Our positive development is driven by a combination of increased sales to existing and new customers, acquisitions of high-quality software companies and prudent cost management”, says Merete Hverven, CEO of Visma.
At the end of the quarter, Visma served 1.6 million customers in Europe and Latin America, a growth of 18% year-over-year.
“Our company continues to grow and thrive thanks to the tireless efforts of a team of nearly 15,000 highly skilled and engaged co-workers. Together, we deliver the mission-critical software our customers depend on to run their business with control and efficiency”, Hverven adds.
24 acquisitions in 2023
Visma made 8 acquisitions during Q3. In Belgium, the Group significantly strengthened its position by acquiring post-accounting software provider Silverfin, with nearly 320,000 end clients.
In Norway, the offering to the public sector was expanded with the acquisition of Acos, provider of cloud software for areas like document processing and archive systems. The first Visma flag was planted in Iceland with the acquisition of accounting software provider Payday, and the first ERP solution in Chile was secured with Laudus.
Visma has acquired a total of 24 software companies so far in 2023, and M&A remains an important driver of growth and innovation for the Group.
At the end of Q3, Visma’s Annualized Repeatable Revenue (ARR) reached EUR 2.2 billion, an increase of 24 percent year-over-year.
“As macroeconomic and geopolitical uncertainties continue to loom over our core markets, Visma’s SaaS business model with a high degree of subscription-based revenue remains a source of stability and strength”, Hverven says.
Key highlights for Q3 2023:
- Revenue of EUR 593 million, 15% growth year-over-year
- EBITDA of EUR 203 million, 18% growth year-over-year
- Annualized Repeatable Revenue (ARR) reached EUR 2 175 million
- Closed 8 acquisitions during the quarter
Q3 2023 by the numbers
For more information, please contact:
Lage Bøhren, Director of Communications, +47 921 57 801
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 15,000 employees and 1.6 million customers across Europe and Latin America. By simplifying and automating the work of businesses and organisations of all sizes, we enable a more efficient and prosperous society. Visit us at visma.com.