Visma achieved revenue of EUR 2.1 billion in 2022, a growth of 19 percent over 2021. Revenue from SaaS (Software as a Service) and related cloud services made up 85 percent of Group revenue in 2022, up from 81 percent in 2021. EBITDA for the full year was EUR 587 million, increasing by 11 percent compared to 2021.
Visma now serves over 1.4 million customers across Europe and Latin America, a growth of 26 per cent compared to the year before. Close to 22 million e-invoices and 11 million payslips flow through the Group’s systems every month.
“Visma will continue to do what we do best. We will build locally relevant and standardised cloud software that automates business administration, connects data, keeps societies running efficiently, and gives companies the financial confidence they are after”, says Merete Hverven, CEO of Visma.
A year of record investments
During 2022, Visma divested its businesses within IT consulting and Cloud Infrastructure Services (CIS), further sharpening the Group’s strategic focus on SaaS and standardised software. Visma is reinvesting the proceeds from these transactions in new growth opportunities within these core areas.
Acquiring other great software companies is an integral part of Visma’s growth strategy, enabling the Group to expand and improve its product offerings both in existing and new markets.
In total, Visma acquired 42 companies in eight countries for a record combined consideration of EUR 1.1 billion. These included the Group’s first acquisitions in France and Germany, two of Europe’s largest markets for business software.
To meet our customer’s expectations for secure, efficient and user-friendly software, Visma also invested an all time high figure of EUR 424 million in product development during 2022. This constitutes nearly 21 per cent of the Group’s total revenue, a share which is among the highest in the software industry.
One such investment during 2022 was the establishment of Visma’s ninth competence centre, “Visma Tech Portugal”, in the city of Porto. It will serve as a hub for innovation within areas like cyber security, AI, product design and other areas.
“We apply AI, machine learning and data science to increase our customers’ efficiency and competitiveness. Additionally, connecting products through APIs remains a top priority, ensuring that our customers have seamless data synchronisation across their business functions”, Hverven adds.
Riding the wave of digital transformation
While 2022 was a year of increased financial uncertainty for businesses and consumers, Visma continues to see significant growth potential for its mission-critical cloud software.
Only 34 per cent of businesses in the EU make use of cloud computing, according to The Digital Economy and Society Index (DESI). DESI also reveals a substantial gap between large companies and SMEs (small and medium-sized enterprises) in the use of basic digital solutions, like ERP software, and e-commerce.
To reach its target of 75 per cent of companies adopting cloud and other advanced technologies by 2030, the EU has dedicated EUR 127 billion to digital related reforms and investments in the national Recovery and Resilience Plans.
More than half of this amount is planned to be spent on the digitalisation of public services and businesses, in particular SMEs. These are segments where Visma has established a leading position.
“Europe’s journey to the cloud is just getting started, and we see continued strong demand for our mission-critical software to drive increased efficiency and smarter digital solutions, both in the public and private sector”, Hverven says.
2022 by the numbers
*Restated to reflect sale of IT consulting business and Cloud Infrastructure Services (CIS)
For more information, please contact:
Lage Bøhren, Head of Communication +47 921 57 801
Visma is a leading provider of mission-critical cloud software, with revenue of € 2.06 billion in 2022, 14,000 employees and 1.4 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.