Visma had a transformative end to the year with the divestiture of the BPO Division and several Saas acquisitions completed. Fourth quarter 2016 was strong with excellent top-line revenue and profit growth.
In the fourth quarter, Visma delivered revenue of NOK 2 120 million, compared with NOK 1 911 million during the same period last year, an increase of 10.9 percent. The EBITDA came in at NOK 507 million, compared with NOK 423 million in the fourth quarter 2015, representing an increase of 20.0 percent.
Revenues in the Enterprise segment grew by 17.2 percent and revenues in SMB grew by 7.4 percent compared to the fourth quarter 2015.
SaaS and SaaS transactions continue to be the strongest driver of organic growth in Visma.
Revenue from SaaS Software solutions grew by 25.6 percent, year-on-year.
Divestiture of BPO and acquisition activity
Visma completed the sale of the BPO division during the quarter. By selling the BPO division, Visma group has become a “pure-play” SaaS/software business.
- This was a win-win transaction. Potential market conflicts between the software activities of Visma when addressing the accountancy market has been removed, says Øystein Moan, CEO Visma.
In line with the strategy to re-invest in the core software business, Visma completed the acquisition of five software companies during the fourth quarter. Four of these were 100 percent pure SaaS SMB software businesses. These included Dinero, TransPA, Movenium and ValueFrame.
-These businesses will have meaningful market synergies with existing Visma business units. Visma will continue its strategy of both organic and acquisitive growth. We have several interesting acquisition dialogues in process for 2017, says Moan.