Visma delivers a strong quarter and launches ground-breaking cloud services 

Visma delivered a strong third quarter and maintains its solid growth rate. Visma continues to grow organically with the strongest growth materializing in software and cloud. Cloud revenue during the first 9 months of 2012 increased with 33.5 percent compared with the same period in 2011.

Visma delivered a strong third quarter and maintains its solid growth rate. Visma delivered revenue of NOK 1 326 million, compared with NOK 1 171 during the same period last year, an increase of 13.2 percent. The EBITDA came in at NOK 309 million, compared with NOK 228 million in the third quarter 2011, representing an increase of 35.1 percent. This is the strongest third quarter profit growth, measured in percentage, during the last 5 years following the financial crisis. In actual figures, Visma delivers the strongest quarterly boost in EBITDA during a single third quarter for the last 10 years. Net cash flow from operations after tax at the end of the first three quarters of 2012 was NOK 769 million versus NOK 650 million in 2011.

“During the third quarter, we have also launched an integrated suite of cloud services. It is the first step towards a tomorrow where Visma is available with efficiency-increasing solutions and services in the cloud”, says Øystein Moan, CEO of Visma.  

Visma.net – strategic launch of new cloud services
Visma continues to deliver strong organic growth, especially within software and cloud, where the revenue growth is strongest. Cloud revenue during the first 9 months of 2012 increased with 33.5 percent compared with the same period in 2011. At the same time, cloud revenue in Visma continues to be higher than new on-premises software license sales. In September, Visma executed the largest product launch in Visma’s history with the introduction of Visma.net. The product is a pure cloud solution and will be introduced in all Visma markets during 2012. 

“Visma expects growth within cloud services to accelerate at the expense of on-premises products in the years to come. The cloud conversion is speeding up on a daily basis as customers are tapping into Visma’s cloud of services and solutions offered through Visma.net. Going forward, Visma’s cloud offering will expand rapidly as additional features, solutions and services are being launched. This enables both our existing and new customers to benefit from flexible and dynamic cloud based solutions tailored to their specific needs, both today and tomorrow”, Moan says. 

Consolidating Nordic
In July, Visma continued its consolidation of the Nordic ERP market with the acquisition of Norwegian DI Systemer. DI has a strong position in the accountancy segment. With this acquisition, Visma strengthened its position as the market leader in this important, strategic segment of the SME ERP market.

“Visma is very satisfied with the agreement. DI has almost 30 years of history, and is to be considered true accounting office ERP experts,” Moan says.

 

  3rd quarter 2012 3rd quarter 2011 Growth
Revenue 1 326 1 171 13.2%
EBITDA 309 228 35.1%
EBIT 222 155 43.8%
Profit before tax 123 85 44.7%

 

 

For more information, please contact:
Øystein Moan, CEO of Visma, +47 920 80 000